Mayflower Share Discussion Threads

[hvs] 13/9/2006 18:42

Why are they not going after the CEO who mislead the investors with his WIND FARMS ?

[nipper33] 13/9/2006 17:31

Isn't there a £200m deficit with HSBC,so £3.7m is just the tip,oooh!

[tufts] 13/9/2006 13:08

I wonder who the word others referred to.

[soysoy] 12/9/2006 22:58

ACCOUNTANCY HEARINGS OPEN
By Nikki Tait

Published: September 12 2006 03:00 | Last updated: September 12 2006 03:00

The first public hearings of the Accountancy Investigation and Discipline Board opened with allegations of irregularities in the use of an invoice discounting facility at Mayflower, the failed busmaker, writes Nikki Tait.

The complaint was brought against Ian Shelton, former financial controller of Transbus, a Mayflower subsidiary.

Lawyers told the AIDB tribunal Mr Shelton had signed a claim for £3.7m, which was sent to HSBC, the facility's provider, in December 2003. The controller, they alleged, knew that claim to be false because invoices had not been sent out and many of the chassis to which these referred had not been made.

Mr Shelton says he was acting on the instructions of others, did not know the terms of the facility agreement at the time and did not intend to mislead.

The AIDB's executive council also alleges Mr Shelton was complicit in Transbus maintaining spreadsheets that held false details about the dates on which Transbus received payments from customers involved in the invoice discounting facility. The tribunal will hear separate complaints against PwC, Mayflower's former auditor, and David Donnelly, former finance director.

[soysoy] 10/9/2006 13:47

Is anyone going tomorrow




The following Disciplinary Tribunal has been appointed to hear the Complaints in relation to PwC, David Donnelly and Ian Shelton:


Chairman: Robert Rhodes QC Further to the announcement dated 5th April 2006, the Disciplinary Tribunal to hear the Complaints against PricewaterhouseCoopers LLP, David Thomas Donnelly and Ian Jon Shelton will take place at of The International Dispute Resolution Centre Limited, 70 Fleet Street, London.

The hearing of the Complaint against Mr Ian Jon Shelton will be heard separately and will commence on 11th September 2006. The hearing of the Complaints against PricewaterhouseCoopers and Mr Donnelly will commence on 25th September 2006.

In the light of evidence which has recently been filed by the Respondents, Executive Counsel has decided not to proceed with a Complaint against David Donnelly relating to disclosures made in the 2002 Mayflower Accounts in respect of the Company's ability to continue as a going concern.

The remainder of the Complaints against Mr Donnelly, PricewaterhouseCoopers and Mr Shelton will be heard by the Tribunal.

[nipper33] 24/7/2006 06:52

What about the 20m pension hole?

[soysoy] 23/7/2006 12:40

School on how to be bent and get away with it, usely have to have a Tie

[crazy russian] 22/7/2006 16:44

what school did he go to?

[ricra] 21/7/2006 22:56

Looks as if Simpson will get away scot free then

[soysoy] 19/7/2006 22:28

Its open to the public
SO BOOK YOUR HOLS

[soysoy] 19/7/2006 22:23

News - Headlines


18/07/2006

Date finally set for Mayflower hearings

PwC and company directors face accounting questions




Dates have finally been set to hear complaints against David Donnelly, former finance director of bus builder Mayflower, Ian Shelton, an employee of subsidiary Transbus, and ex-auditor PricewaterhouseCoopers.

It is two years since the newly-formed Accountancy Investigation and Discipline Board started to investigate Mayflower and its subsidiaries, its first ever case.

PwC was added last September.

This week the AIDB said a disciplinary tribunal would hear the complaint against Shelton in London beginning 11 September. The complaints against PwC and Donnelly will be heard separately beginning on 25 September.

The executive counsel has decided to drop a complaint against Donnelly relating to disclosures in the 2002 Mayflower accounts in respect of the company's ability to continue as a going concern.

The cases focus on alleged accounting irregularities.

The Mayflower affair goes back nearly three and a half years when the company, which once boasted former prime minister John Major as a non-executive director, was forced to rewrite its accounts on the advice of PwC.

In April Mayflower called in administrators Deloitte after funding proposals failed and the company was left heavily in debt from previous acquisitions.

Some parts of the business were successfully sold off, but a £20m black hole was found at Transbus, and 300 staff were made redundant.

A PwC spokeswoman said today the firm was 'surprised' that the AIDB had chosen to file disciplinary complaints against it and maintained its position that they were 'misconceived'.

'We look forward to explaining why that is,' she added.

[soysoy] 19/7/2006 22:14

The Mayflower Corporation Plc

AIDB PN 8 17 July 2006


Further to the announcement dated 5th April 2006, the Disciplinary Tribunal to hear the Complaints against PricewaterhouseCoopers LLP, David Thomas Donnelly and Ian Jon Shelton will take place at of The International Dispute Resolution Centre Limited, 70 Fleet Street, London.

The hearing of the Complaint against Mr Ian Jon Shelton will be heard separately and will commence on 11th September 2006. The hearing of the Complaints against PricewaterhouseCoopers and Mr Donnelly will commence on 25th September 2006.

In the light of evidence which has recently been filed by the Respondents, Executive Counsel has decided not to proceed with a Complaint against David Donnelly relating to disclosures made in the 2002 Mayflower Accounts in respect of the Company's ability to continue as a going concern.

The remainder of the Complaints against Mr Donnelly, PricewaterhouseCoopers and Mr Shelton will be heard by the Tribunal.

[Abuse team] 02/6/2006 20:32

Post removed by ADVFN

[scribbler101] 02/6/2006 20:04

In Welsh - "IAWN" means "great".

But this thread is a more English "YAWN"

[hvs] 02/6/2006 18:09

JakNife,

Please get a life ask the wife !!

[soysoy] 02/6/2006 17:58

Lowtrawler
Thanks for your support

[lowtrawler] 02/6/2006 16:25

JakNife

As I recall it you were attacked on 2 fronts:

1. You had previous "form" with Anomolous who had offered to support SoySoy and (I may be wrong in this) you started to post on the mfw board only by following Anomolous around. From what I could see, you persistently attacked Anomolous presumably in a similar running feud to the one we are witnessing with SoySoy. I can recall that a number of unsupported allegations were made against you to which you took exception. The allegations against you were persistent and serious.
2. You were rubbished for suggesting nothing would come from SoySoys efforts.

I can understand why you would be upset at the former but your persistence has been directed towards the latter. Having provided advice that soysoy was wasting his time, surely it is his business whether he chooses to take your advice or not? Constantly attacking on this front does nothing to address the main issue of unsupported allegations being made against you.

Those allegations are now several years old and typical of bulletin Board patter. Once made, they are usually forgotten about by the following day never mind several years down the line. If you can't accept that, you really shouldn't post on bulletin boards.

All I am saying is that the reasoning behind your pursuit of soysoy is misdirected and should be put behind you. I think soysoy should be left to finalise the work he has done whether you believe there has been value in it or not.

[scribbler101] 26/5/2006 14:30

JakN - IIRC soysoy explained after some previous comment on his spelling that he was autistic or something and had trouble with spelign.

[nipper33] 26/5/2006 07:46

Way to go Enron ---way to go Mayflower!

[soysoy] 25/5/2006 18:37

yes it`s best to ignore Jaknife
I will post next time I have some news