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Thread Like Summary
bodine031, bon
Total Likes: 4
Original Post (Thread Starter)
#805785 04/18/2020 12:23 PM
by bon
Looks like another old brand will be heading east, like AJS, Triumph and now Norton. Sad times. TVS paid 16 milion for the firm. I just hope those ripped off can be repaid the money they lost.
Liked Replies
#805923 Apr 19th a 09:38 AM
by kommando
TVS have bought no buildings, the sale agreement gives them a license to use the manufacturing facilities for 6 months. So Metro/BDO still own the buildings and no doubt will still have them for sale at some point. As the manufacturing is an assortment of open offices and sheds there will be plenty industrial units locally for TVS to use or they have 6 months to move it all to India.

The sale of the 961 engine rights was undertaken after HRMC had raised the Wind Up Petition, as soon as that was raised all asset sales are null and void. The Chinese will have to take Metro/BDO to court in the UK civil courts to get these rights, proof of payment to a Norton UK bank account will be needed before that even has a chance, not a record of a payment to SG's personal account.
1 member likes this
#806125 Apr 21st a 12:28 PM
by Twin Pot Phil
Twin Pot Phil
Given the long, very long, history of financial misappropriation now associated with this company name, I am amazed that anyone would now want to pay anything for it.
Ignoring the NVT corporate shambles, anyone remember the Phillippe LeRoux fiasco that preceded the Wildrose Ventures version (ordered to stop trading by the Canadian stock exchange FFS), even before the Stuart Garner led criminality.

BTW the pension saga was led by SG who had two 'independent advisers' that sought and actioned 'pension investment' into the corporate mess, that meant he personally did not completely act criminally, however both these 'advisors' (who were not truly independent) were successfully prosecuted by the financial watchdog under criminal acts and I believe at least one now is a guest of Her Majesty.

Sorry, but it's now time to consign the name history, forever unless you intend to produce Manxes or poorly manufactured Commandos.
1 member likes this
#806211 Apr 22nd a 04:59 AM
by kommando
TVS did not buy any buildings, they have still to be sold, TVS bought Norton and 6 months use of the buildings.
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