All of the creditors, with one exception, have accepted my bankruptcy and leave me alone. I owed lots of money including £8,743 to Egg, £1,300 to NatWest and £9,158 to the Student Loans Company. It will reinstate the interest you should have had and send you £150 compensation for the hassles you have had. It acknowledged your "problems in opening the bond". Abbey was more understanding when Capital Letters called. Abbey confused the outsourced firm which sends out the monthly payments with the council.įinally it told you "the interest rate is no longer available". Then it changed tack, rejecting a proof of identity because it was your pension, clearly from Hertfordshire county council, which it deemed a private pension and not the required "state/local authority benefit". Please help.īy the time Abbey owned up to your bond application, the rate had dived to 2.75% - this may explain why it no longer wants you to have the bond.Ībbey first said you never phoned. The bank rejected identity documents, lost forms and, when it finally agreed I had made an application, said the bond was unavailable.īetween times, I have lost count of how often I have phoned Abbey to get some sense. In early November, just before interest rates plummeted, I applied by phone for an Abbey two-year 6% fixed-rate bond. A high court hearing is planned for 1 April. The official receiver will need to look into how the shares were marketed and by whom what Lewis did with the money why he was allowed to operate a plc as a one-man band and whether the glass recycling was ever more than a dream. The Department for Business has just appointed the official receiver as liquidator for all four companies in the Magna orbit, following a Companies Investigation Branch probe into Lewis's companies. Sadly, your appeal for information comes too late. The last accounts were September 2006 - of little use now. When Capital Letters spoke to Lewis last April, he came over as a possibly gifted glass technologist but someone out of his depth when it came to investment money.Īt that time, he promised to improve investor relations, comply with statutory returns and produce meaningful accounts. Company secretary Harry Francis Cottam, a Warwickshire solicitor, resigned in August 2008 and was not replaced. Preference shares are a form of loan which give shareholders no rights to an annual meeting or even a copy of the accounts.Īll the ordinary shares, which have voting rights, were held by Solihull resident Ronald Joseph Lewis, 67, the sole director. Magna sold preference shares to private investors, claiming a money-making solution to recycling the laminated glass used in car windscreens.
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