Managed Support Services Share Discussion Threads

[a0148009] 04/11/2010 11:58

toad6

Tell us the facts about your experience to justify your opinion.

I agree you have not accused him of being up to no good - but have said he may be creating a smoke screen to cover his own fraudulent activities which is libelous.

Share your experience with us.

AO

[davidosh] 04/11/2010 11:26

How will he gain personally by discrediting the Worthingtons ?

[toad6] 04/11/2010 11:25

It's not emotive at all - it's fact. I have seen his behaviour first hand. I have also not accused him of being up to no good. I have suggested that he will find himself in trouble for what I believe has been a campaign to discredit the Worthingtons for his own personal gain by manipulating the system. If I'm wrong - I'll admit it. I'm pretty sure I'll not be though...

[davidosh] 04/11/2010 09:57

What is your beef with SB guys...? You are using very strong and emotive wording and suggesting a current director is up to no good. Do you have any evidence you can share or are you talking from a previous experience and making assumptions ?

[a0148009] 04/11/2010 09:44

As you guys have strong opinions of SB I assume you have had previous contact with him.

He was invited to go into the Company by institutional investors to sort out the mess which was far worse than anyone expected.

Interest in very small cap companies like this attract only limited institutional investors and are often a long burn it therefore requires a great deal of patience.

AO

[iiinvester] 04/11/2010 09:11

AO - and enough with the copy and pasting....its dull and we can all re-read it if we want to.

[a0148009] 04/11/2010 09:05

From the preliminary results 2009.

"Legal

The Group has taken legal advice from Queen's Counsel in respect of certain
matters relating to acquisitions made by the previous management team.

As a result of that advice the Board has instructed solicitors to serve a formal
claim under the protocol provisions of the Civil Procedure Rules against HWCA
Limited and HW Corporate Finance LLP. HWCA Limited were the Group's auditors
until November 2007."


"The Board has taken steps with third parties such that legal redress can be
pursued vigorously but without distracting management or incurring material
cost."

You have to be careful what you put in writing even on a bulletin board libelous statements eg "Maybe SB was just creating a smoke screen for HIS fraudulent activities." you may be asked to substantiate.

Looks to me like a no hay no pay legal arrangement with solicitors.
The auditors and advisers are being pursued and it is possible the former directors could also face legal action - depending the outcome.
There is no doubt that the financial controls were appalling.

AO

[iiinvester] 04/11/2010 08:41

Seems to me SB has alledged a lot of things about a lot of people but none have been proven. Blue Oar mayhave been sloppy but thats not fraud.

Maybe SB was just creating a smoke screen for HIS fraudulent activities. It will all come out in the end, wouldnt suprise me if the fraud office wwere casting their eyes over that idiot.

[toad6] 04/11/2010 08:34

Blue Oar made procedural errors and their work was sloppy, they got rightfully punished. SB alledges corruption and fraud by old management - the two are not linked in any way...SB will be found wanting in a very big way.

[iiinvester] 04/11/2010 08:34

AO - copying and pasting articles written years ago isnt a discussion! Im tending to believe toad6. SB has done nothing but line his own pockets since he bullyed his way into MSS, certainly nothing for the shareholders.

[davidosh] 03/11/2010 23:35

Did SB manage to get any money back for shareholders for all these illdoings re Worthington Nicholls though ? The LSE extracting 250k from Blue Oar just goes into their kitty no doubt !

[a0148009] 03/11/2010 17:53

Also



AO

[a0148009] 03/11/2010 17:38

Extract from link.


"That name may not mean a lot to you. But perhaps the name Worthington Nicholls will. Worthington Nicholls was a stock market high-flyer, promising to grow rapidly through the installation of air conditioning systems.

But in 2007 it all came crashing down, amidst allegations of inadequate financial management, misleading statements to the stock market and some ill-judged acquisitions. Official investigations are still rumbling on, but in the meantime Beart has taken control, restored financial discipline, got rid of unwanted activities and people – and changed the name of Worthington Nicholls to Managed Support Services."

Lets wait and see the figures in December.

AO

[toad6] 03/11/2010 16:23

So what on Earth are BlueOar's failings to do with Worthington Family prosecution? You've just underlined the problem.

[toad6] 03/11/2010 15:52

davidosh

...any wrongdoing by the previous management; specifically the Worthington family. Remember that they were adivised by a whole team of professionals. For the Worthington family to have set the whole thing up to defraud investors and to run rings around the City would have needed collusion on a truely massive scale and would have needed to have been perpetrated by Brokers, Corporate Finance Advisors, their lawyers, Worthington Nicholls' lawyers, the auditors and non-execs. Think about it, why would they have done that just so an elderly man who already had a private offer for the Group could float a business? There is no reason. Ever heard of Occam's Razor?

[toad6] 03/11/2010 15:42

No, I mean bully in the true sense. Using physical posturing and threats to pressurise people who are neither educated enough or specifically worldly-wise to counter his aggression.

[davidosh] 03/11/2010 15:35

What was fabricated ?

[a0148009] 03/11/2010 15:25

If you mean by bully he does not suffer fools gladly I agree.

AO

[davidosh] 03/11/2010 13:11

What happened about the legal action against the old Worthington Nicholls directors ? Was it dropped ?

[sheila16] 02/11/2010 22:25

going nowhere. (and not in the positive sense)