Merchant House Share Discussion Threads

[sirraman] 01/3/2013 15:05

what happened to the new boys on the MHG BoD who bought in the money just befor this delisted....are they still running this show to see if theycan get it re-listed sometime or have they just written off their investment here...???

[zitec] 20/2/2013 21:43

Merchant Capital Liquidation - Official Notice

>

Don't want to get anyones hopes up but depending on how much bad debt they have pushed into Merchant Capital there remains the slight glimmer that Merchant House Group PLC may continue in some form. They still have MHFS, a new shiny address and those big director related holdings tied up.

For better or worse, this doesn't look over yet.

[edjodav] 19/2/2013 20:32

HOLMES THE POLICE WILL EVENTUALLY GET YOU

[mike111d] 19/2/2013 18:58

Not sure if any of you have seen this:

"Revealed: Police believe a crime was committed during Craig Whyte's takeover of Rangers"

The probe will also look at obligations which Whyte failed to fulfil and allegedly lied about. Under the Share Purchase Agreement, he promised to invest £27.5million from his own funds or from companies controlled by him.

Instead, he raised £27.4million from Ticketus, JLT Benefit Solutions and Merchant House Group – secured against future Rangers season ticket sales.

Link to the article in full here:



It would appear that the net continues to close.

[zitec] 19/2/2013 12:59

Merchant Movements

Some developments, new notice on MHG and MCap sites with new number for MHG and new address!? Looks like Shipley LLP(liquidators) are taking all MCap queries now. The FSA Register for MCap is only one person now, an Icelandic chap who was part of Merchant Pensum for you old schoolers.

MHFS appears to be still in tact and running by the looks.

There will be some more news this week I reckon on MCap.

[mike111d] 14/2/2013 19:31

This was far from just being down to Rangers:



and now he wants to clear his name, too little too late IMO:

[loverat] 14/2/2013 05:50

More frustration on TMF regarding the bondholders.

[loverat] 11/2/2013 23:01

No problem -

[beginner3] 11/2/2013 22:39

Loverat-when you get few minutes, please log on to OCH group to pay your share of the funds pls

[loverat] 11/2/2013 22:36

Simply amazing isn't it?

There are some colourful characters in the world of investing. I thought Simon Littlewood, who incidentally had a connection with one director here was a one off. Nope - I think Craig Whyte wins the prize by a whisker because of the wide scale of his business ventures which have ended in controversy.

You have to wonder why the directors here rubbed shoulders with such people. Perhaps they thought Whyte was an amusing and lovable rogue. It certainly has opened my eyes and given me and others a very useful insight into the lack of integrity and hypocrisy of some individuals.

[mike111d] 11/2/2013 22:19

Oh what a tangled web we weave:

[andy] 25/1/2013 14:48

Hmmm!


Reyker's head office is 17 Moorgate, London, EC2R 6AR

Telephone [phone] (all Merchant queries must be in writing please)

[dubois] 24/1/2013 22:10

Ezlington

That was what was posted in FT. Be good if they are wrong and you can take your preofits in a couple of years

[zitec] 24/1/2013 16:20

Richard Spurway, ex Merchant House Group MD just joined Worthington Group board. After David Simpson has left after just 6 months.

Spurway seems to have worked at MHFS and registered many MHG related domain names.



Look at that convertible loan deal at WRN a few months back. Almost a carbon copy of the one done here in June 2010 by Whyte.

He's been pulling the strings at WRN for a couple of years now. Their pension fund is trying to claim £3m alongside Merchant Turnaround PLC for £1m the cash stuck in the Collyer Bristow account following the Rangers admin.

[loverat] 24/1/2013 05:55

Morning

I wonder if any of you lot who are TMF posters could just copy Zitec's link over there. It does not look as if it has been posted and might be useful to them.

Thanks

[moormoney] 23/1/2013 23:36

Sorry The Ross, I hope you recover your losses elsewhere. You have been a true gentleman all through this sorry saga. I've been left high and dry with my investment in CCH who disappeared almost overnight and now this. Eel, VMP the list goes on, there are so many robbers out there it leaves as bitter taste.
We have had some good posters on here so thank you all and good luck.

[the ross] 23/1/2013 22:07

Yep L. I'm done now sadly got some other holdings left but that's it for me. Will be bidding you all goodbye in the near and distant as sadly caught out way too deep here. Have sat it out however and took the decisions myself so learnt a valuable lesson. Made different contacts along the way and over the last few weeks. I'll leave it there and say no more. What I will say is, this has impacted everyone. Even some that have tried to help sort out the problems at MHG. So money lost all round on a big scale. Question is now if us that are registered will be classed as anything but that fact. Cant see others on the list of larger investors being happy to lose their investments and will be higher up the queue of course from whatever is left.

Still cant understand how investment would come in to try save something that couldn't effectively be saved even though profits were being reported. There in lies the quandary.

Cheers All and all the best with your investments in the future.

[loverat] 23/1/2013 21:48

Well, if I understood that correctly that summary might give some comfort to bondholders in the turnaround companies. However I wonder why they have not been paid the coupon for many months.

It really is a sorry state of affairs. I may have alluded to the MO of the management here several years go but sadly I got caught out by bad timing.

When things get tough, shut up shop, divert queries to someone else and then disappear.

It absolutely beggars belief. Those people who have assisted and been colleagues/friends of these directors ought to be ashamed of themselves.

[mike111d] 23/1/2013 18:45

This should not come as a surprise all things considered.

Sorry for your losses folks and as already stated I hope that you are able to make them up elsewhere.