Veritas-IT - unpaid invoices.....

[thescoobydoo]

madbilly

your silence is deafening Madbilly?

you seem to want facts, simply put I billed more for the company than I cost them, I was brought on to build the contract base in the London office I did that.

So can you see my frustration that the company that I joined five months ago and was told was cash rich and looking to expand no longer exists?

So possibly you can answer my question who are you?

[NickNick]

Moving On

Moving away from the personal attacks

In my situation, and I understand that this differs for everyone, my end client is in negotiations with a few agencies for one of them to buy the contract book from Veritas. The new agency will take on board the debt owed the contractors and pay this back week on week to the affected contractors. (not sure of a payment schedule at this stage though) Which works fine as long as you are working for this end client through that agency, but if not, then you're on your own.

I believe that the end client will not be dealing with any agency connected to the Veritas Directors.

Any thoughts on how this will pan out?

[i_want_my_money]

The latest from BDO

I called BDO on Friday and was told that they were going to work over the weekend to get contracts drawn up for a buyer to hopefully be signed today (Monday).

However, do not get excited as the existing company would go into administration with its debts and a new company formed with its assets (the contracts etc.).

Has anyone else been told this or have anything further to add?

[outofwork]

update

Cassie said today that there was no change. They have until tomorrow to get somthing sorted. Think BDO are holding back on something though. Replying to what you said about the clients not going with any company the directors set up, how will they know? They just set it up under a different company name and get their partners to run it...Simple. All the shareholders are partners and they are all on the financial report under their maiden names so how will the client know? Lets hope we get some closure tomorrow

[bubblensqueek]

We All Want Our Money...

NickNick

if you are certain that the new agency will take on the Veritas debt and pay the contractors then all well and good.

How are you certain of this, and will this be payment in full and for all contractors?

[dev0173]

Anyone been in touch with BDO today?

[NickNick]

Not certain at all

I'm not certain that this will happen at all, that's just how it was explained to me by my client. It turns out now that this is not the case for the client I'm working for and the contractors affected are currently negotiating with new agencies who are offering various deals to go through them.

[bigD]

Anyone been in touch with BDO today?

Just called BDO. Apparently, according to BDO nothing has changed i.e. Veritas has not yet gone into administration. There was no one there who could give an explanation as to why not. I was told to call back tomorrow when Cassie Preston is back to find out more information.

[thescoobydoo]

today

they have a buyer but the buyer missed the deadline with the paperwork today, so they will try and wrap it up in court tomorrow there should be an announcement tomorrow or Thursday, this is a massive tuck up, who buys a company with no assets as all the assets have been stripped now

[googlemad]

Tucked Up???

they have a buyer but the buyer missed the deadline with the paperwork today, so they will try and wrap it up in court tomorrow there should be an announcement tomorrow or Thursday, this is a massive tuck up, who buys a company with no assets as all the assets have been stripped now

What do you mean by "tucked up"? Are you suggesting that in some the Veritas directors are going to buy the book via another company and continue the relationships with the client base?

That sounds a little far fetched to me. I am quite sure there are laws to protect against these kinds of things. Also I am quite sure that the contractors would leave the instant they found out about the link...