Bit of an essay as regards the recent postings on here but bear with me: 1) Have any traders got their money refunded? Ive heard some horror stories on this page about traders who have paid for pitches and who have incurred additional expenses in the promise of Alt-Fest - more stock, staff, travel, accommodation etc. 2) For Dom to tell Mick Wood to move on as I have as he did in one of these threads it made apparent that Dom has now set up another business (corals) which is a slap in the face to the traders mentioned above. 2.1) Where did he get this money from to set up a new business? 2.2) IF you are looking at going personally bankrupt, the LAST thing you do is open another business. 3) Dom and Missy have lead us to believe that they are going personally bankrupt as a result of Alt-Fest Limited. This is bullshit for the following reasons: 3.1) Alt-Fest Limited had a share capital of £2. This means that the Directors have a liability of £2. Yup, the Company organising what was to be the best music festival EVER was worth £2. And that £2 was the total sum of liability for which the Directors are legally liable for. 3.2) Let alone, when people are questioning your business morals (hey, that rhymes with corals!) you do not start a business which is raping the environment. 3.3) The liquidators are aware that Dom & Missy have a Directors Loan in excess of £20,000. However, a liquidator will not chase fees where non can be had. Blood out of a stone? Not gonna happen. 4) For all the creditors to whom Dom and Missy have given personal guarantees to, this is different from the company. Basically, these creditors have taken those two at their word and have been let down. 5) Dom has already transferred his DJ/events business to someone else. It may be argued that hes still in charge (and receiving money) though. 6) As for the Kickstarter investors, AND traders, This is in on wikipedia: On the 20th of June 2014, just two months before the start of the event, Alt-Fest attempted to raise £400,000 through the business loan and equity platform Funding Tree. When queried, Alt-Fest reported that it was an old funding pitch placed in error. (en.wikipedia.org/wiki/Alt-Fest#Early_controversies) Were you informed of this? This may constitute fraud be misrepresentation. Did you know your investment may be diluted by this new share-offering? It may be worthwhile complaining to the police en mass and giving all your signatures to a well-draughted letter. And maybe one of the BBC shows with Dom Littlewood - if only to get the word out there. I would also be interested as to what insurance they had taken out. By law Alt-Fest Limited should have had Public Liability Insurance. If they had not taken it out by the point of cancellation of the event, would a judge be convinced by an argument that: a) The Directors waited until the last minute as they were unsure themselves whether the event would actually ever take place or, b) were they NEGLIGENT in their capacity of Directors - in either case, they were negligent and knowingly acted illegally - so therefore, the cloak of Limited Liability no longer protects them.
Posted on: Sun, 19 Oct 2014 00:59:40 +0000
Trending Topics
Recently Viewed Topics
© 2015