Peak Rail Annual Report and Action Group

Just had a look at Companies House, Peak Rail has not made an Annual Return since 5th August 2015? The list of shareholders is available on a CD rom from Companies House. If Peak Rail have got to pay then they have no choice or they might appear on "Can't pay, we take it away".
Looks like there will be collecting buckets for loose change on Thursday!

 

You're right, of course (implicit in the phrase "Grinsty's Part 36 costs"); I don't know definitively how this works (and would appreciate follow-up from someone with expertise) but I gather the situation is that the court is involved somehow in overseeing the transfer, and can step in very forcefully if it doesn't happen.

Noel

 

The Companies House link is shown below.
https://beta.companieshouse.gov.uk/company/02071143/filing-history

 

The small profit showed showed for the accounts now promptly disappears to pay off grintsy, reading weekend rails last night, why even try to challenge the costs, give up and then pay out 7k more than you could have paid to begin with, just cos have another go at challenging it. Theyve lost every case so far. So why try again.
I read further in this thread there another unhappy loco owner to contend with possibly

 

When ever I visit weekend rails I can’t find anything relating to the PR dispute? Where is this stuff hiding plse?

 

There's usually a paragraph or two near the end of his posts - it's not the main topic.

 

And some time ago one of the blog entries related the, eventually successful, saga of obtaining a shareholder list from the plc.

 

Here is a link to all blog posts mentioning Peak Rail : https://www.weekendrails.co.uk/blog/tag/Peak Rail.html

Pete tends to do a bunch of word tags at the end of each blog for any common topics which links to a list of any blog posts where the words were mentioned, which is always good of him.

it doesn't always mean that anything about PR troubles have been mentioned, just that the word 'Peak Rail' has, so you still have to search around a bit.

 

Thanks, that worked fine.

 

The only thing that makes sense to me is that it was a delaying action - albeit a very expensive one, so the need for a delay must have been intense.

Well, we'll soon find out if the costs payment to Grinsty happened; it was supposed to be within 2 weeks, as of last week sometime. Do I hear a fat lady warming up?

Noel

 

In a case like this, if the debtor does not make payment within the allowed time, they can be, at the Judge's discretion be made in contempt of court or the court can ask if the person /company owed to the debt wishes to send in the bailiffs or enter into a payment plan with the debtor, of course this action will increase the debt!

 

I've not been following this in depth so could someone please clarify for me if the court judgement was against PR the company
or the PR company directors (Isn't the phrase jointly and severally?) for breach of contract or whatever it was?
TIA. Alan.

 

The company, not individuals.

 

Thanks for that.
So the question that comes to my mind is that if the company has not set aside any funds in previous accounts for legal fees etc. is it actually going to be solvent when they are forced to pay up?

 

Hence my 'fat lady' comment.

My expectation is that the benefactor would come through again; the real question is 'how long will their patience last before they start demanding change(s)'.

Not a lot of transparency, alas, so this kind of tea-leaf-reading is what has to replace it.

Noel

 

More tea-leaf reading but is it possible that the ‘benefactor’ could be repaid in the form of new shares?

 

The old financial support was a gift, and is entered as such in the accounts, that would normally be the end of the matter. IF there is any new support there would be no reason why it should not be as a share purchase.

 

Hard to believe that anyone with the ability/etc needed to accumulate that much money (unless it's inherited) would be so adrift as to be ready to hand it over without getting something in the way of influence/control/etc out of it - if for no other reason than to be able to change the boat's direction before it hits the rocks. It will be interesting to see what happens in this case; we shouldn't have to wait too long...

Noel

 

Who is the mystery benefactor?