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If you have used Montpelier - read this

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    If you have used Montpelier - read this

    Montpelier (Trust and Corporate) Services Limited - appointment of receiver, manager and inspectors

    Aside from the headlines, the paper has a number of links to related decisions and proposed actions.

    I have not read all of these yet but the general thrust is that "trust and corporate services" vehicle is bust and receivers have been appointed to recover all possible assets.

    Whilst I am of the initial view that this does NOT include loans made to individuals via the trust mechanisms, there are a number of intra group loans and loans to individuals within the Montpelier group, that are mentioned.

    One to read and consider carefully.

    I will post some thoughts later in the week but be aware that I will confine my views to material that is in the public domain - as should we all please.
    Last edited by cojak; 9 October 2019, 08:50. Reason: My bold - please take note.
    Best Forum Adviser & Forum Personality of the Year 2018.

    (No, me neither).

    #2
    Montpelier

    The companies that deal with the loans, Corrance and Hazelmere I think they are called, are not part of Montpelier Group

    Comment


      #3
      Bloody hell. Tangled web or what?

      https://www.iomfsa.im/media/2636/chanceryprocedure.pdf

      At least this should keep the "Don" preoccupied, with hopefully less time for squeezing clients.

      Comment


        #4
        Originally posted by FlorenceP View Post
        The companies that deal with the loans, Corrance and Hazelmere I think they are called, are not part of Montpelier Group
        That's a confident call.

        I'm going to say that from my researches there may be more connections than you think.
        Best Forum Adviser & Forum Personality of the Year 2018.

        (No, me neither).

        Comment


          #5
          Originally posted by webberg View Post
          I'm going to say that from my researches there may be more connections than you think.
          The French have a word for it "engrenages".

          Good luck to the auditors trying to unpick this murky web.

          Comment


            #6
            Following a link from the link https://www.iomfsa.im/media/2636/chanceryprocedure.pdf

            16:15(page 12)
            even cursory reference to those bank statements would have informed the directors of the Defendant that payments made from the bank accounts of BIOM, LLC and MICI included personal expenditure of EWG and his family (for example, the purchase of racehorses by EWGs' wife and son, the payment to the Isle of Man Courts of Justice of a £700,000 security for costs order made against Montpelier Tax Planning (Isle of Man) Limited – noted by the Staff of Government Division as having been paid personally by EWG, hundreds of payments to EWG, his wife Maura Gittins, his son Mark Gittins and his son Ellis Gittins);

            So far this seems to be civil courts. How long until this turns into a criminal investigation?

            I have been waiting years for this.

            Comment


              #7
              Originally posted by BrilloPad View Post
              Following a link from the link https://www.iomfsa.im/media/2636/chanceryprocedure.pdf

              16:15(page 12)
              even cursory reference to those bank statements would have informed the directors of the Defendant that payments made from the bank accounts of BIOM, LLC and MICI included personal expenditure of EWG and his family (for example, the purchase of racehorses by EWGs' wife and son, the payment to the Isle of Man Courts of Justice of a £700,000 security for costs order made against Montpelier Tax Planning (Isle of Man) Limited – noted by the Staff of Government Division as having been paid personally by EWG, hundreds of payments to EWG, his wife Maura Gittins, his son Mark Gittins and his son Ellis Gittins);

              So far this seems to be civil courts. How long until this turns into a criminal investigation?

              I have been waiting years for this.
              Looks like it will end only one way for him.

              Comment


                #8
                Originally posted by FlorenceP View Post
                The companies that deal with the loans, Corrance and Hazelmere I think they are called, are not part of Montpelier Group
                https://www.iomfsa.im/media/2636/chanceryprocedure.pdf

                g. Some key payments are highlighted at JPM/3/264-266 of the RBS accounts which, by way of example show payments from clients/investors, coming in on 2/1/19 from Hazelmere Ltd of £40,000 and on the same day being a paid out into MP Gittins account; a further £40,000 comes in on 4/1/19 from the same entity and on 6/1/19 £2000 is ; £15,000 in on 18/1/19 and paid out to MP Gittins £10,000 paid out to MP Gittins on the same day. There are a very large number of payments over a considerable period of time with at least a correlation between clients monies and payments to the family. These payments were from the LLC account the statement for which were being sent to the Defendant at its registered address [see JPM/1/460]. In the absence of a dispute that these sums aswell as others totalling £1.1million and EU1.1.m, were paid to the EWG family, it does not seem necessary to go beyond these examples.

                I wonder if these sums came from loan scheme users repaying 10% of their loans?

                Comment


                  #9
                  Originally posted by More Lamb View Post
                  I wonder if these sums came from loan scheme users repaying 10% of their loans?
                  Good spot! I had forgotten about them. The writing has been only the wall since Huitson UTTT appeal was 6 months late.

                  I do wonder if there are any scheme users who have not heard the latest and still trust WG? And I wonder what DB thinks of WG now? Will DB be in the firing line?

                  I suppose its too early to tell.

                  Comment


                    #10
                    Where is FlorenceP now?

                    What are your views on this Florence?
                    "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
                    - Voltaire/Benjamin Franklin/Anne Frank...

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