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Thread: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

  1. #76

    Default Re: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

    Quote Originally Posted by C. Flower View Post
    I wonder what else they owe.

    One of the collectors, Brian, was on JD and said he thought there were about 20,000 clients.

    An average of 2,600 each. A lot of people must have had savings with them.

    Brian said he had his sons' 8,000.00 college money saved in the company and was audibly very cut up about his clients situation as well as his own. He said people could phone him and they should set up a group. Having lost his job as well as the money, he was understandably not at all a happy man.
    I think I recognise Brian's voice, even with the very obvious emotion of a distressing week where he's lost his job and savings. He's a guy a I know slightly and a thoroughly decent fellow, a good guy. It's desperate for him and his colleagues who've really earned their keep over the years, between the shoe-leather, the people skills and the responsibility of handlng clients' money ( a worry, obviously not equally shared by the Directors of the firm when they decidd to invest clients funds along with the goodwill they'd inherited, in Bulgarian property).

    Anyway, what I heard Brian say was that there were about 2,500 clients ( I think 2,300 was the figure given to the Court). It seem they are owed some €6m.

    Whatever about the Financial Regulator, that 2,300 people surely have some claim on the Office of the Director of Corporate Enforcement which has been receiving annual accounts from Home Payments and its sister companies in the insurance and property industries.

    Unfortunately, following the lead of the DPP, it is very unlikely that Mr Appleby, the Director of the ODCE, will make any comment on this debacle.

    It would be good to see MABS and the relevant Chapter of Credit Unions in Dublin, come together and offer some kind of recovery package to the 2,300 people concerned: - but the key service offered by Home Payments Limited was the footwork put in by Brian and his colleagues, bringing the service to the doorstep for a couple of generations. That, along with the trust betrayed by the Directors, may prove to be irreplaceable.

    Let us hope that the trust we are enitled to repose in the ODCE will not also lead to disappointment

  2. #77
    Join Date
    Feb 2010
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    Rockall
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    64,611

    Default Re: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

    Quote Originally Posted by Alembic View Post
    I think I recognise Brian's voice, even with the very obvious emotion of a distressing week where he's lost his job and savings. He's a guy a I know slightly and a thoroughly decent fellow, a good guy. It's desperate for him and his colleagues who've really earned their keep over the years, between the shoe-leather, the people skills and the responsibility of handlng clients' money ( a worry, obviously not equally shared by the Directors of the firm when they decidd to invest clients funds along with the goodwill they'd inherited, in Bulgarian property).

    Anyway, what I heard Brian say was that there were about 2,500 clients ( I think 2,300 was the figure given to the Court). It seem they are owed some €6m.

    Whatever about the Financial Regulator, that 2,300 people surely have some claim on the Office of the Director of Corporate Enforcement which has been receiving annual accounts from Home Payments and its sister companies in the insurance and property industries.

    Unfortunately, following the lead of the DPP, it is very unlikely that Mr Appleby, the Director of the ODCE, will make any comment on this debacle.

    It would be good to see MABS and the relevant Chapter of Credit Unions in Dublin, come together and offer some kind of recovery package to the 2,300 people concerned: - but the key service offered by Home Payments Limited was the footwork put in by Brian and his colleagues, bringing the service to the doorstep for a couple of generations. That, along with the trust betrayed by the Directors, may prove to be irreplaceable.

    Let us hope that the trust we are enitled to repose in the ODCE will not also lead to disappointment
    Welcome, Alembic

    We have been following the slow progress of the ODCE on the Anglo Irish investigation since this site started.

    We were always told that the reason the big banks were so poorly regulated was because the authorities spent too much of their time chasing the small guys. There seem to have been serious gaps there, too.

    Provisional joint liquidators have just been appointed by the High Court, according to RTE Drive Time, so I presume it is now too late for the Central Bank to insist that they register, which I assume may still have been an option open while they were a trading company.

    It would be small enough money for a group of Credit Unions to acquire this business (along with Brian) and cover the 6 million, in the way that the Superquinn suppliers are reportedly being subbed by Musgraves pending take over.

  3. #78
    Join Date
    Mar 2010
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    15,318

    Default Re: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

    If, and I stress, if, it's the case that the company was trading unlawfully because it didn't obtain the required authorisations, would the directors/owners still enjoy the protections of limited liability or would they be personally liable for the debts of the business?

  4. #79
    Join Date
    Feb 2010
    Location
    Rockall
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    64,611

    Default Re: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

    Quote Originally Posted by Baron von Biffo View Post
    If, and I stress, if, it's the case that the company was trading unlawfully because it didn't obtain the required authorisations, would the directors/owners still enjoy the protections of limited liability or would they be personally liable for the debts of the business?
    In general, it's my understanding that company status does not allow someone to be negligent, plus Company Directors are obviously subject to Company law, in addition to any other law of contract etc.

  5. #80
    Join Date
    Mar 2011
    Location
    Ireland
    Posts
    3,845

    Default Re: Home Payments Ltd. Payments Agency Closed - Great Stress for Clients

    Quote Originally Posted by Baron von Biffo View Post
    If, and I stress, if, it's the case that the company was trading unlawfully because it didn't obtain the required authorisations, would the directors/owners still enjoy the protections of limited liability or would they be personally liable for the debts of the business?
    I wager the directors/owners are sitting pretty tonight. Their type always do.

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