Garner
- Thread starter MAK
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Fast Eddie
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£14m of what money back to who?
Is that the pension money back to the pensioners?
I’d like to think they’d get some back, but ain’t gonna happen, like Kommando says, Garner will simply declare himself bankrupt.
Is that the pension money back to the pensioners?
I’d like to think they’d get some back, but ain’t gonna happen, like Kommando says, Garner will simply declare himself bankrupt.
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Norton Motorcycles' ex-owner must pay back £14m missing from pension fund
Pensions Ombudsman rules that trustee Stuart Garner had acted ‘dishonestly’
www.theguardian.com
The former owner of Norton Motorcycles has been ordered to pay back about £14m missing from retirement funds he controlled after the Pensions Ombudsman ruled he acted “dishonestly”.
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Well the total liabilities were north of £30M, the TVS money will cover the Bank and possibly HRMC so that leaves £0 for the pensioners, suppliers, employees, customers etc. So Garner will get a bill for £14M, he won't pay and then the 'dishonestly' comes into play unless his passport is dusted and ready.
Gadge
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Last paragraph from the article:
"Garner did not respond to invitations to comment. He denies any wrongdoing and has said he considers himself a victim, as he did not know he was dealing with fraudsters."
Seems to more accurately describe the pensioners and his customers.
"Garner did not respond to invitations to comment. He denies any wrongdoing and has said he considers himself a victim, as he did not know he was dealing with fraudsters."
Seems to more accurately describe the pensioners and his customers.
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I expect he'll end up being kept by his suddenly very rich wife....
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They've been selling stuff on Facebook under the NotNorton_moto id. Roll top Bath, sofas, Aga, etc.
The regulator carries the same authority as a crown court. If he doesn't pay then he will go to jail. I suspect his passport has already been suspended as part of the agreement. Robbing pensioners will not go down well with the other cons. As for having the cash, I suspect this will be raised by the sale of Donington which looked very much on the cards prior to administration, which may explain why TVS will move out.
The investigation into his running of the company I suspect is still ongoing. This may explain the recent, ie last few days, comments in the Indian press the TVS deal is far from concluded according to some media outlets there. Strange as Project Bidco have registered the TM's.
TVS will now look real daft using him as a consultant. TVS should have listened to those like the members of this forum who said a complete split would be best from him and skinner.
As for claiming he is also a victim, he should shut up and take it on the chin, otherwise the likes of the regulator and Guardian will delve deeper into his past if they haven't already, and uncover more about just how much a victim he is.
The investigation into his running of the company I suspect is still ongoing. This may explain the recent, ie last few days, comments in the Indian press the TVS deal is far from concluded according to some media outlets there. Strange as Project Bidco have registered the TM's.
TVS will now look real daft using him as a consultant. TVS should have listened to those like the members of this forum who said a complete split would be best from him and skinner.
As for claiming he is also a victim, he should shut up and take it on the chin, otherwise the likes of the regulator and Guardian will delve deeper into his past if they haven't already, and uncover more about just how much a victim he is.
BritTwit
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He should be able to get 14M by selling off a few Giraffes, Hiffos, and Elephants from his South African game farm.
I'm not an expert on law, but my understanding is that The law has somehow been changed, now Mrs Garner can be held to account of her sudden increase of unexplained wealth.
This saga looks like it will go on and on. . . .
And the big house in Minnesota.
It will, and yes money trails have to be proven, if not then it can be clawed back.
Or the 895 houses and a further 176 if the later plan gets approved for land north and south of Park Lane. 'what, someone had plans for my front and back garden, how dare they' no wonder TVS need to move out.
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Thanks for posting Bluey , A very entertaining video I must say , and probably all very true ! As I look back now some 3 years ago when my wife and I were at Norton UK ; I kept thinking " This seems like a house of cards just waiting to fall down " ...
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