Montpelier (Trust and Corporate) Services Limited - appointment of receiver, manager and inspectors
Aside from the headlines, the paper has a number of links to related decisions and proposed actions.
I have not read all of these yet but the general thrust is that "trust and corporate services" vehicle is bust and receivers have been appointed to recover all possible assets.
Whilst I am of the initial view that this does NOT include loans made to individuals via the trust mechanisms, there are a number of intra group loans and loans to individuals within the Montpelier group, that are mentioned.
One to read and consider carefully.
I will post some thoughts later in the week but be aware that I will confine my views to material that is in the public domain - as should we all please.
Aside from the headlines, the paper has a number of links to related decisions and proposed actions.
I have not read all of these yet but the general thrust is that "trust and corporate services" vehicle is bust and receivers have been appointed to recover all possible assets.
Whilst I am of the initial view that this does NOT include loans made to individuals via the trust mechanisms, there are a number of intra group loans and loans to individuals within the Montpelier group, that are mentioned.
One to read and consider carefully.
I will post some thoughts later in the week but be aware that I will confine my views to material that is in the public domain - as should we all please.
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