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Wren Turbines UK Ltd - Meeting of Creditors Liquidation Notices - Section 98

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Wren Turbines UK Ltd - Meeting of Creditors Liquidation Notices - Section 98

Old 08-08-2015, 05:16 AM
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jetmanuk
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Default Wren Turbines UK Ltd - Meeting of Creditors Liquidation Notices - Section 98

Would appear Wren Turbines UK Ltd are indeed to go out of business.

Meeting of Creditors Liquidation Notices - Section 98 - See more at: http://www.creditman.co.uk/news/meet....Mkjwi7NI.dpuf

Wren Turbines are listed at the bottom of the list.

Last edited by jetmanuk; 08-08-2015 at 05:19 AM.
Old 08-08-2015, 06:52 AM
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DrScoles
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Yikes, glad I waited for the K45… Sad to see any segment of our hobby go down, except FEJ of course…. ;-) Somebody else pick them up?
Old 08-08-2015, 07:29 AM
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Not so fast...

I wonder if this is to do with a restructure due to Ron Ballard retiring...??
And looking at DueDil, a new company has been set up...

Last edited by Nige321; 08-08-2015 at 07:43 AM.
Old 08-08-2015, 07:51 AM
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jetster81
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I hope they can sort something out.It would be a shame to see them disappear
Old 08-08-2015, 12:50 PM
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hope my wren 100 is ok, now it seems I have no back up or warranty
Old 08-08-2015, 02:14 PM
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Eddie P
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My Wren 80K is the best engine in this class I think, for the money and just even if money were no issue. I was sad to see Ron Ballard "retire" but I think the timing of how fast it happened makes me think something is definitely is up. Otherwise there would have been more of a lead up to it and then the timing of these sorts of rumors with an announcement in the creditor's auction market.

I know "orphan" engines can easily be serviced at some of the service centers out there but I would hope some other reputable company would buy the assets - that is, if this doesn't just turn out to be a "near miss" with a white knight buyer appearing in the 11th hour.

I'm hoping there is an alternative process going on or at least a good explanation. Hope alone not typically being a very productive exercise in these cases, however.
Old 08-09-2015, 03:25 AM
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jetmanuk
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https://www.thegazette.co.uk/notice/2380997

[h=1]Meetings of Creditors[/h][h=3]WREN TURBINES LIMITED[/h](Company Number 03879699)
Registered office: Unit 1, Mitchells Enterprise Centre, Bradberry Balk Lane, Wombwell, Barnsley, South Yorkshire, S73 8HR
Principal trading address: Unit 1, Mitchells Enterprise Centre, Bradberry Balk Lane, Wombwell, Barnsley, South Yorkshire, S73 8HR

Notice is hereby given, pursuant to Section 98 of the Insolvency Act 1986 that a meeting of the creditors of the above-named Company will be held at 26 Bedford Square, London, WC1B 3HP on 20 August 2015 at 3.15 pm for the purposes provided for in Sections 99 to 101 of the said Act. Resolutions to be considered at the meeting may include a resolution specifying the terms on which the liquidator is to be remunerated. The meeting may receive information about, or be called upon to approve, the costs of preparing the statement of affairs and convening the meeting. A creditors’ guide to liquidators’ fees in a liquidation and this firm’s charging and disbursements policy can be found on our website www.mw-w.com by clicking on creditor information and then fees and costs or a copy can be requested from this office. Creditors wishing to vote at the Meeting must lodge their proxy, together with a proof of debt or a full statement of account at the offices ofMcTear Williams & Wood, Townshend House, Crown Road, Norwich, NR1 3DT. The proxy form must be lodged not later than 12.00 noon on 19 August 2015 and the proof of debt can be lodged at any time up to the commencement of the meeting.

Notice is further given that Andrew McTear (IP No 007242), of McTear Williams & Wood, Townshend House, Crown Road, Norwich NR1 3DT, will make available a list of the names and addresses of the company’s creditors which may be inspected, free of charge, at the offices of McTear Williams & Wood, 26 Bedford Square, London, WC1B 3HP, between 10.00 am and 4.00 pm on the two business days preceding the date of the meeting.

Enquiries should be sent to McTear Williams & Wood, Townshend House, Crown Road, Norwich NR1 3DT, Email: [email protected], Tel: 01603 877540,Fax: 01603 877549.

Michael Murphy, Director
15 July 2015

Old 08-09-2015, 06:04 AM
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jetmanuk
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http://www.actionfraud.police.uk/fra...-related-fraud

Interesting Reading

"[h=1]Insolvency-related fraud[/h]Fraud relating to bankruptcy and insolvency can involve companies fraudulently trading immediately before being declared insolvent, or phoenix companies.
Phoenix companies are when, following the insolvency of one company, a new company is set up overnight with the same directors, but is not liable to pay for the losses of the previous business because they seem to be different entities."
Old 08-09-2015, 06:33 AM
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jetmanuk
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If you keep digging it's amazing what you find out.

Would Appear there is a new website in the offing for Wren Turbines. http://cdindulgence.com/

Bit of caution for the directors of Wren Turbines Ltd and also M & L Precision Engineering Ltd ( MIke Murphy)

If they attempt to use the name Wren Turbines or similar in their new company the directors of which may committing a criminal offence. And I suspect this will include the use of the current Wren Turbines Logo.

6. Where a company has gone into insolvent liquidation it is an offence for any director to use or be in any way involved in using the same or a similar name for a business, without leave of the court, s216(4) IA 86

SOURCE http://www.sfo.gov.uk/media/99253/in...%20web%201.pdf (serious fraud office)

If you now do a simple whois lookup you find this, it shows that this new wren turbines staging site was only put online in the past few weeks.

[TABLE="class: whois_heading, width: 700"]
[TR]
[TD][h=2]cdindulgence.com registry whois[/h][/TD]
[TD="class: whois_update, align: right"]Updated 1 second ago - Refresh[/TD]
[/TR]
[/TABLE]
Domain Name: CDINDULGENCE.COM
Registrar: WEBFUSION LTD.
Sponsoring Registrar IANA ID: 1515
Whois Server: whois.123-reg.co.uk
Referral URL: http://www.123-reg.co.uk
Name Server: NS.123-REG.CO.UK
Name Server: NS2.123-REG.CO.UK
Status: clientDeleteProhibited http://www.icann.org/epp#clientDeleteProhibited
Status: clientTransferProhibited http://www.icann.org/epp#clientTransferProhibited
Status: clientUpdateProhibited http://www.icann.org/epp#clientUpdateProhibited
Updated Date: 30-jul-2015
Creation Date: 30-jul-2015
Expiration Date: 30-jul-2017



[TABLE="class: whois_heading, width: 700"]
[TR]
[TD][h=2]cdindulgence.com registrar whois[/h][/TD]
[TD="class: whois_update, align: right"]Updated 1 second ago[/TD]
[/TR]
[/TABLE]
Domain Name: CDINDULGENCE.COM
Registry Domain ID: 1950096278_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.meshdigital.com
Registrar URL: http://www.domainbox.com
Updated Date: 2015-07-30T00:00:00Z
Creation Date: 2015-07-30T00:00:00Z
Registrar Registration Expiration Date: 2017-07-30T00:00:00Z
Registrar: WEBFUSION LIMITED
Registrar IANA ID: 1515
Registrar Abuse Contact Email: @domainbox.com
Registrar Abuse Contact Phone: +1.8779770099
Reseller: 123Reg/Webfusion
Domain Status: clientDeleteProhibited
Domain Status: clientUpdateProhibited
Domain Status: clientTransferProhibited
Registry Registrant ID:
Registrant Name: Peter Proost
Registrant Organization: G-TEK
Registrant Street: Unit 1B Cliff Street Ind.Est.
Registrant City: Rotherham
Registrant State/Province: South Yorkshire
Registrant Postal Code: S64 9HU
Registrant Country: GB
Registrant Phone: +44.1709577580
Registrant Phone Ext:
Registrant Fax Ext:
Registrant Email: @btopenworld.com


Old 08-09-2015, 07:27 AM
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BobbyMcGee
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Those poor people that own a wren. They are stuck with it. To me, that engine is now worthless.
Old 08-09-2015, 07:32 AM
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Originally Posted by BobbyMcGee View Post
Those poor people that own a wren. They are stuck with it. To me, that engine is now worthless.
Well I have 10 wren engines. Lets hope someone steps in
Old 08-09-2015, 09:16 AM
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Had to happen - Wren had/has very poor business integrity
i got cheated with their 160 and moved on from Wren long ago
Old 08-09-2015, 09:51 AM
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Originally Posted by Xantos View Post
Had to happen - Wren had/has very poor business integrity
i got cheated with their 160 and moved on from Wren long ago
That's probably your integrity in question here, not their. They are very well known for excelent customer support.
Old 08-09-2015, 11:24 AM
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PLANE JIM
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Originally Posted by Calil View Post
That's probably your integrity in question here, not their. They are very well known for excelent customer support.
that was not nice
Old 08-09-2015, 01:23 PM
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JustABigKid
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From the horse's mouth:

http://www.wrenturbines.co.uk/index..../category&id=1
Old 08-09-2015, 01:34 PM
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Originally Posted by JustABigKid View Post
Looks like those with wrens might be ok then
Old 08-09-2015, 01:47 PM
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[h=1]2. Creditors' voluntary liquidation[/h]A director can propose a creditors’ voluntary liquidation if:
  • the company can’t pay its debts (it’s ‘insolvent’)
  • enough shareholders agree
This means the company will stop trading and be liquidated (‘wound up’).
[h=2]Get shareholders’ agreement[/h]You must call a meeting of shareholders and ask them to vote.
75% (by value of shares) of shareholders must agree to the winding-up to pass a ‘winding-up resolution’.
Once the resolution is made there are 3 steps you must follow.
  • Appoint an authorised insolvency practitioner as liquidator to take charge of liquidating the company
  • Send the resolution to Companies House within 15 days.
  • Advertise the resolution in The Gazette.
Your responsibilities as a director will change.


https://www.gov.uk/liquidate-your-co...ry-liquidation

https://www.gov.uk/liquidate-your-co...s-to-directors


[h=1]5. What happens to directors[/h]When a liquidator is appointed, directors:
  • no longer have control of the company or anything it owns
  • can’t act for or on behalf of the company
If you’re a director you must:
  • give the liquidator any information about the company they ask for
  • hand over the company’s assets, records and paperwork
  • allow the liquidator to interview you, if they ask
You can be banned from being a director for 2 to 15 years or prosecuted if the liquidator decides your conduct was unfit.
Old 08-09-2015, 02:23 PM
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Crumpet46
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"They are very well known for excelent customer support."

no they aren't...
Old 08-09-2015, 09:36 PM
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Originally Posted by Calil View Post
That's probably your integrity in question here, not their. They are very well known for excelent customer support.
Calil,
Obviously you are unaware of the problems I've had with Wren so also many others but to put it in a nutshell I had 2 compressor failures and both times Wren replaced it Free of Cost Under Warranty - however with defective compressors that they knew were defective and prone to failure in less than or within 20hours. Clearly it wasn't my integrity that was causing turbines to explode all over the world.
Wren offered to replace it the 3rd time again with another similar defective part knowing fully well it would suffer the same consequences. That was the time I stepped away from Wren as a favoured vendor and abandoned my 160 K at the Wren facility.
I seems you are happy with Wren products and their service and I wish you well.
So Goodluck to you when your turbine starts throwing blades maybe then you'd be in a better position to comment on the service you'll get
Old 08-09-2015, 09:59 PM
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Originally Posted by BobbyMcGee View Post
Those poor people that own a wren. They are stuck with it. To me, that engine is now worthless.
Hardly worthless. They still run and fly your planes, All that is needed is to find a service agent or do the service yourself
Old 08-10-2015, 12:29 AM
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just got this reply from wren regarding the warranty on a new engine I have

All warranties & existing business will transfer to the new company automatically – the Wren name will transfer to the new business to avoid any confusion.

Please come back to me if you need any further information.

Regards


Leonie



NewWren 50i Black Gold – available now - same size as 44i Gold – see our FB page & web site. Find us on Facebook - https://www.facebook.com/wren.turbineswww.wrenturbines.co.uk
Old 08-10-2015, 12:24 PM
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Originally Posted by bluescoobydoo View Post
just got this reply from wren regarding the warranty on a new engine I have

All warranties & existing business will transfer to the new company automatically – the Wren name will transfer to the new business to avoid any confusion.

Please come back to me if you need any further information.

Regards


Leonie



NewWren 50i Black Gold – available now - same size as 44i Gold – see our FB page & web site. Find us on Facebook - https://www.facebook.com/wren.turbineswww.wrenturbines.co.uk
Now that is good news
Old 08-10-2015, 01:24 PM
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Jetmanuk what axe have you to grind ? research the supposed rules as much as you like.

I don't think you have a grasp on how business can turn bad through no fault of your own,
Most companies that go into liquidation is because of circumstances out of there control and no fault of their own.

Ie none payment by a major customer or let down by a major customer (gov / educational dept etc) because of a change of plan etc. Shareholders want out ( due to retirement or disagreement etc)

Lets all jump on the band wagon and kick them while they are down why not !!!! ---- normal crap that those that don't have a clue join in on !!!!!

I have always had excellent service from Wren and hope they can move on and be successful and wish them all the best.

Last edited by The Bush; 08-11-2015 at 10:35 AM.
Old 08-10-2015, 01:45 PM
  #24  
jetmanuk
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All warranties & existing business will transfer to the new company automatically – the Wren name will transfer to the new business to avoid any confusion.

Please come back to me if you need any further information.

Regards


Leonie


[h=5]Restriction on re-use of company names.[/h]
(1)
This section applies to a person where a company (“the liquidating company”) has gone into insolvent liquidation on or after the appointed day and he was a director or shadow director of the company at any time in the period of 12 months ending with the day before it went into liquidation.

(2)
For the purposes of this section, a name is a prohibited name in relation to such a person if—

(a)
it is a name by which the liquidating company was known at any time in that period of 12 months, or

(b)
it is a name which is so similar to a name falling within paragraph (a) as to suggest an association with that company.

(3)
Except with leave of the court or in such circumstances as may be prescribed, a person to whom this section applies shall not at any time in the period of 5 years beginning with the day on which the liquidating company went into liquidation—

(a)
be a director of any other company that is known by a prohibited name, or

(b)
in any way, whether directly or indirectly, be concerned or take part in the promotion, formation or management of any such company, or

(c)
in any way, whether directly or indirectly, be concerned or take part in the carrying on of a business carried on (otherwise than by a company) under a prohibited name.

(4)
If a person acts in contravention of this section, he is liable to imprisonment or a fine, or both.

(5)
In subsection (3) “the court” means any court having jurisdiction to wind up companies; and on an application for leave under that subsection, the Secretary of State or the official receiver may appear and call the attention of the court to any matters which seem to him to be relevant.

(6)
References in this section, in relation to any time, to a name by which a company is known are to the name of the company at that time or to any name under which the company carries on business at that time.

(7)
For the purposes of this section a company goes into insolvent liquidation if it goes into liquidation at at time when its assets are insufficient for the payment of its debts and other liabilities and the expenses of the winding up.

(8)
In this section “company” includes a company which may be wound up under Part V of this Act.







SOURCE: http://www.legislation.gov.uk/ukpga/1986/45/section/216

Unless strict rules are followed, a director of a company which has gone into insolvent liquidation cannot beinvolved in the promotion, formation or management of any business (incorporated or unincorporated) if thatbusiness uses any name by which the liquidating company was known or traded under. The name will also beprohibited if it is so similar as to suggest an association with the company in liquidation. For example, if JohnSmith Consulting Limited went into insolvent liquidation, “JS Consulting Limited” and “John Smith Consultants”would all be treated as prohibited under s216.

1. Sale of a business – if the new venture purchases the whole or substantially the whole of the business of theinsolvent company from its liquidator, then a similar name may be used. In these circumstances a notice must bepublished in the London Gazette and sent to all known creditors within 28 days of completion. Note: purchase ofjust the name or trading style from the liquidator will not be sufficient to avoid s216.

SOURCE: http://www.parkinsbooth.co.uk/resour...etter-2014.pdf
Old 08-10-2015, 01:50 PM
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jetmanuk
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Source: http://www.mondaq.com/x/86896/Corpor...enix+Companies

In the current economic climate, it is not uncommon for distressed businesses to be restructured through insolvency; the idea being to emerge in a leaner and more robust form albeit trading under a similar name. It is therefore timely to recall that this "phoenix" phenomenon brings special liability risks for directors of such companies.
Section 216 of the Insolvency Act (IA) 1986 (the Act) and the supplementary Insolvency Rules (IR) (the Rules) address so-called "Phoenix" companies. This is where the business activities of an insolvent company are continued by the directors using the vehicle of a new company, often trading under the same or a similar name, and using the old company's assets and exploiting its goodwill.
[h=3]Criminal liability[/h]Such situations can lead to heightened exposures for directors of such companies. Under s216 IA, entitled "Restriction on Re-use of Company Names", it is a criminal offence for a director of an insolvent company, without the leave of the court, to reuse that company's name (or a similar name) for another company in which he is a director, within five years of the insolvency. The prohibition extends to any person who has been a director of the insolvent company in the period of 12 months ending on the day before the date of liquidation - s216(1) IA. A director in breach of s216 and who does not fall within one of the exemptions is exposed to criminal liability, and risks imprisonment and/or a fine[SUP]1[/SUP].
[h=3]Civil liability[/h]In addition, s217 IA 1986 imposes civil liability for a breach of s216, and holds an offending director personally liable for all the relevant debts of the prohibited named company, if at any time he is involved with the management of that company[SUP]2[/SUP]. Furthermore, the court has no discretion to discharge or limit the liability, and there is no right of contribution between the person liable and the company. In effect, s217 imposes strict liability on directors who have breached the provisions of s216. It is, for example, no defence for the director to maintain that the breach of s216 was "innocent", i.e. committed without intent to damage the interests of the company's creditors. Nor indeed is it any defence for the directors to argue that the creation of the new company was in the creditors' best interests even if in fact that was the case.
[h=3]Limited exceptions[/h]There are only three exceptions to the s216 prohibition. The first arises where a director applies to the court within seven days from the date on which the first company goes into liquidation for permission to use that company's name.[SUP]3[/SUP] The second exception relates to a situation in which the successor company has already been trading by the prohibited name for a period of 12 months at the point when the insolvent company goes into liquidation[SUP]4[/SUP]
The third exception derives from IR 4.228. In order for this exception to apply, the successor company must acquire the whole or substantially the whole of the business of the insolvent company under arrangements made by an insolvency practitioner acting as its liquidator, administrator or receiver. Under this procedure, the successor company must give notice in prescribed form to all the company's creditors within 28 days of completion of the transaction. In addition, the rule requires that notice be published in the Official Gazette. Significantly, if this procedure is not followed, there does not appear to be any provision in the insolvency rules for retrospective permission to be conferred. The only option available to the directors in these circumstances appears to be to apply to the court under s216(3) IA for leave to continue using the prohibited name. If, however, the new company becomes insolvent in the meantime, the director may still face civil claims.
Implications
The vice at which ss216 and 217 IA was aimed was the Phoenix Company Syndrome under which directors would intentionally collapse one company and create another in order to defraud creditors. It should be noted that the combined effect of ss216 and 217 goes beyond this and, in effect, creates a strict liability regime where there has been non-compliance. The courts have made it clear that there is no requirement for there to have been prejudice to the creditors resulting from the conduct in question. In, for example, Ricketts v Ad Valorem Factors Ltd [2003] EWCA Civ 1706; [2004] 1 All E.R. 894 where the successor company was trading under a similar name to that of the failed company, the issue was whether the successor company's name was a prohibited name for the purposes of s216. In this case there was no transfer of assets as an undervalue from the failed to the successor company. There was no evidence that the companies were used to incur debts and avoid payments nor was there any evidence that creditors of the failed company had been misled by the similarity of the two names. Despite all this, the court found that s 216 had been breached and, accordingly, the director was liable for all the debts of the successor company.
Conclusion
The "anti-phoenix" provisions of the IA are widely drafted, with plenty of room for interpretation by the courts. In the current economic situation, company directors and advisers should take heed of the provisions contained within s216 and s217 IA 1986, and take care in their application of the limited exceptions provided for in the Insolvency Rules. The growing number of cases which are coming before the courts illustrates the increasing awareness of the provisions, their consequences (both criminal and civil), and the readiness of creditors and liquidators to utilise them.
Given the current economic climate, it is more important than ever that company directors are aware of the effect of the anti-phoenix provisions contained in ss216 and 217 of IA 1986. Given the strict liability nature of these provisions, directors who are in breach (and especially those with access to D&O liability insurance) will make very tempting targets for liquidators. The fact that there is little, if any, defence to a claim under s217 places it in a different category from the more typical wrongful trading and/or misfeasance claim, the outcome of which, from a liquidator's standpoint, can often be much more uncertain. As more and more companies are buffeted by poor economic conditions, directors who are genuinely interested in maintaining their business in a new company need to be aware of the risks associated with ss216 and 217. Otherwise, they risk being burned by the phoenix.

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