Spittoon: We Spit So You Can Swallow
While the last owners of Unwins seek to sue those they brought the company off for false accounting, suppliers to the firm are looking for recompense. Two French wine firms are investigating to see if directors of the compnay might be personally liable to creditors.
ThisIsMoney.co.uk
“For the first time, the move formally raises the prospect that Unwins directors, led by flamboyant venture capitalist Phillip Cook, could be held personally liable for the company’s failure. Cook is chief of DM Private Equity, which bought Unwins for £32m last March. French wine firms La Compagnie Des Vins D’Autrefois and Cave De Lugny have written to administrator and KPMG partner Andy Oliver raising concerns about the final months of the company. “
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The chairman of Unwins, Cook, was also chair of failed medical records company Dictascribe which failed to file accounts and was fined for it, failed to pay suppliers and is being pursued for it and ultimately left the thing to fall into administration leaving staff and suppliers out of pocket. Do we sense a pattern here?
I think you will find a pattern here. All indications point to DM equity taking all they could from the company, banking all they possibly could, trying to fidle pensions, whilst leaving creditors out of pocket, as well as not paying up all they should’ve to the Wetz family through the original purchase.
I think KPMG will start to dig around and we’ll see Mr Cook in the Dock – facing up to his immoral responsibilities.
Hopefully he will be prevented from bleeding any other companies for personal profit in future.