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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018   
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A bit slow to the party but...
"Norton Motorcycles: MPs question pensions regulator's role" https://www.bbc.co.uk/news/uk-england-leicestershire-51806171 |
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10th Mar 2020 9:19am |
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| 90 Dreamer Member Since: 13 Jul 2019 Location: Oop North Posts: 2178 
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Not sure why anyone mistook them for a motorcycle 'manufacturer'............
https://www.superbike.co.uk/article/norton...ey-is-owed |
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28th Mar 2020 5:10pm |
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| Chopperone Member Since: 13 Nov 2016 Location: Derbyshire Posts: 396
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Prison sounds good. May your life be like toilet paper ; long & useful.
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28th Mar 2020 6:05pm |
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| 90 Dreamer Member Since: 13 Jul 2019 Location: Oop North Posts: 2178
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Interesting news, it 'may' provide some light for current customers ......
https://www.superbike.co.uk/article/tvs-prepares-to-buy-norton |
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17th Apr 2020 7:26pm |
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018
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It's a few days since I read all the loss figures, was it £24m? This sale is reported at £16m and then it's worded to suggest that they are cherry picking assets, so does that suggest pensioners and deposit holders will get a pence on the pound offering when secured creditors have been taken care of?
Would deposit holders even want a Norton bike now, knowing what they know about engineering and supplier issues? |
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18th Apr 2020 5:16am |
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| Rashers Member Since: 21 Jun 2015 Location: Norfolk Posts: 3539 
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If I had lost a large deposit to a company which had gone down the drain, I for one would not pay the resurrected company another deposit, but maybe that is being harsh to the employees who are not at fault?
Cherry picking the good parts of a company is the usual way to do it. No one in the right mind would take on a companies debt unless you are HM Government bailing out RBS. |
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18th Apr 2020 6:25am |
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018
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Unless it's factored into the sale price?
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18th Apr 2020 8:19am |
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| 90 Dreamer Member Since: 13 Jul 2019 Location: Oop North Posts: 2178
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The Pension stakeholders are already out of the picture I believe and there is a seperate Ombudsman investigation which 'might' find Garnver personally responsible / liable......
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18th Apr 2020 2:06pm |
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| Rashers Member Since: 21 Jun 2015 Location: Norfolk Posts: 3539
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Another Robert Maxwell?
It's always the poor pension stakeholders, isn't it? More ruined lives and retirements. |
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18th Apr 2020 3:01pm |
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| 90 Dreamer Member Since: 13 Jul 2019 Location: Oop North Posts: 2178
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The pension investment is an entirely different entity (scam) just with the same people / person at the helm......
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18th Apr 2020 4:18pm |
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018
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What do you mean by out of the picture? |
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19th Apr 2020 8:33am |
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| 90 Dreamer Member Since: 13 Jul 2019 Location: Oop North Posts: 2178
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The pension funds have been mentioned a number of times by the administrators, BDO and their 'claim' is basically unable to be satisfied by any means........they are last on the list of creditors under any circumstances apparently
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19th Apr 2020 9:11am |
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018
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So this might be promising for those that dropped a deposit:
Norton Motorcycles (@Norton_Moto) Tweeted: The most loved British motorcycle brand is back! 🏍️ 💯 Read more at https://t.co/JSoDVVkmJh https://t.co/h12WmF22Iz https://twitter.com/Norton_Moto/status/1254376430923726850?s=20 |
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26th Apr 2020 4:43pm |
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| 90 Dreamer Member Since: 13 Jul 2019 Location: Oop North Posts: 2178
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Yes looking like TVS (who have paid £16million) for the business are looking to honour deposits / payments made to the previous admin........
Maybe eventually Norton will actually move forward |
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26th Apr 2020 5:39pm |
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