 | Home > Off Topic > Norton Motorcycles |
 
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018   
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In depth interview with the new man in charge, who has history with Land Rover (it's a small world):
https://www.superbike.co.uk/article/john-r...otorcycles It certainly sounds like TVS have plans to take things in the right direction. |
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15th May 2020 5:07am |
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| 90 Dreamer Member Since: 13 Jul 2019 Location: Oop North Posts: 2165 
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certainly seems like they are making the right noises...........
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15th May 2020 7:39am |
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| 90 Dreamer Member Since: 13 Jul 2019 Location: Oop North Posts: 2165
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Pensions regulator very unimpressed.................they just have to find where the cash is stashed now.......
https://www.theguardian.com/business/2020/...nsion-fund |
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24th Jun 2020 4:18pm |
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| 90 Dreamer Member Since: 13 Jul 2019 Location: Oop North Posts: 2165
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Man rips off lots of people that can ill afford it, not sure which dog that has been kicked .........
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24th Jun 2020 8:27pm |
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018
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The dog is the regulator/Ombudsman. It's a regulated industry. They should have undertaken some form of due diligence when the schemes were registered with them.
There's also a little blame on the people who lost their money, after all they were told were the money was going and what it was for. It went there, the company failed. It was a high risk investment from the get go. Most of the complaints made, and upheld, should have been transparent to the individuals and anyone with an overview of the industry from the start. Some took the money from good schemes on the basis of higher returns ~ they gambled and lost. "The Schemes were promoted to prospective members, by individuals who were subsequently jailed for fraud, as an opportunity to invest in the Norton Motorcycles business." "Mr Garner, as trustee of the Schemes (referred to, in that capacity, as the Trustee), invested members’ entire funds under the Schemes in preference share capital in Norton Motorcycle Holdings Limited" "Although the Ombudsman found that the Schemes had not been, in law, initially set up for an improper purpose" The real crime here, especially if it is not to happen again and again is : “This shocking case raises serious questions about the effectiveness of the regulators involved and the protections we have for people who fall victim to pension scams.” I just hope that this victory gets them their money, I'm not sure if it's under a mattress somewhere or was just  away on the dream that was Norton? |
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25th Jun 2020 4:44am |
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| 90 Dreamer Member Since: 13 Jul 2019 Location: Oop North Posts: 2165
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unfortunately the pension / life insurance industry seems to be a bit like double glazing, etc and (allegedly) attracts less than scrupulous salesmen who then talk people into things that are ill advised.........
agreed the Ombudsman and regulator(s) need to sort their act out |
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25th Jun 2020 8:55am |
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018
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Interesting fightback:
"Mr Garner told LeicestershireLive: “It’s not appropriate to comment on the ombudsman just now. “I would say I’ve worked with BDO who are sitting on £16 million cash from [the] Norton asset sale with a further several million expected to come in from Norton property sales. “The money is not 'missing'. It is all in the business and its assets. “No-one has agreed what the pension investor amount is yet. But with £16 million in cash and several million of property assets to come in, it looks likely they will receive all their capital back.” Asked what he was now doing he said: “Currently working with DBO to ensure a strong property sale across Donington Hall and the Priest House [Hotel}. “I’ve lost everything with Norton, so I’ve no idea what the future holds yet.” BDO refused to comment but it is understood a creditors report will be out in late July or early August." https://www.derbytelegraph.co.uk/news/busi...rs-4266062 |
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27th Jun 2020 8:28am |
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| 90 Dreamer Member Since: 13 Jul 2019 Location: Oop North Posts: 2165
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with all of the other associated reports he's simply trying to 'doge the bullet' that must be inevitable..........
know someone who looked into the hotel and there are various planning & operating issues - common theme no mention of the ranch in South Africa he allegedly owns, even after he has lost everything?? |
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27th Jun 2020 11:00am |
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018
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So maybe it is as he had said all along:
https://www.superbike.co.uk/article/doning...-their-16m Does beg the question of what TVS got for their money, but it all seems to be accounted for now? |
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4th Jul 2020 5:09pm |
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018
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More good news...
 Click image to enlarge John McGuinness (@jm130tt) Tweeted: ooooooohh I might get a draw then 🙄 #morechanceofgettingawankoffthepop https://t.co/ShEjDqo2Fm https://twitter.com/jm130tt/status/1288575719514279936?s=20 |
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30th Jul 2020 12:26pm |
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| 90 Dreamer Member Since: 13 Jul 2019 Location: Oop North Posts: 2165
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Maybe its all starting to unravel....
https://www.theguardian.com/business/2020/...n-pensions |
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20th Dec 2020 7:51pm |
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018
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And even more goods news...
Click image to enlarge https://www.visordown.com/features/general...p-recovery |
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18th Jan 2021 12:45pm |
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| 90 Dreamer Member Since: 13 Jul 2019 Location: Oop North Posts: 2165
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all very well but they need to make good on their word about previous failed orders and warranty work before getting too giddy........
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18th Jan 2021 3:13pm |
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018
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Saga continues...
https://www.superbike.co.uk/article/stuart...on-holders And just to show what a murky world pensions is, the company the Pensions Regulator and the High Court appointed Dalriada are involved in their own scandal: "Victims say Dalriada Trustees 'inexplicably' held their recovered retirement savings for years and then only paid a fraction of their money back. One man who waited for seven years to have his pension pot returned had £90,000 of it deducted in charges — including £18,000 for 'member's information', which consisted of one letter or email from the trustee a year." https://www.thisismoney.co.uk/money/pensio...-cash.html |
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10th Feb 2021 7:04am |
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