UK 17:46 Friday, 23 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Folks dismissed the County Court Judgement against Quindell revealed HERE at the weekend as a one off but now I alert you to the fact that its ACH Subsidiary (for which it paid £31 million as part of the fraudulent RTA deal) faces a winding up order because it has not paid its bills.
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Comments
zeronegative
I wonder how the Quindell Echo are going to spin this one…..
Sorry, it won’t mention it as he’s doesn’t mention bad news…do you Neil???
JustCurious
Am I the only one who cannot read this article because of a “Breaking Bad” advert in the background from “JustPremium” (that or shoes)? Just wondering.
No I am pissed too - bombard atwater@gmail.com with complaints please . TWzeronegative
Tom,
Appears that the LSE board think this is some kind of joke and have gone into TW meltdown again.
Biggest bunch of cry babies I’ve ever seen. Pathetic!
Juicin Drumroll
Justcurious,
Perhaps if you weren’t drunk you’d be able to read it. For God’s sake man it’s only 4:30!
JustCurious
Lol. Tom, maybe you should approach blinkx and ask them for a helping hand with your advertising:
http://www.blinkxmedia.com/
I’m sure they are less inclined to take their clients to court…
alcira16247
Tom
Confirming Zero’s comments – Quindell investors on the LSE are going nuts! Many are beavering away trying to dig up ‘facts’ about TARGET THE MARKET and how this article is all part of the global shorting conspiracy. Unbelievable!
Given the today’s RNS news of fire sales and clearing the decks of various bits and pieces, isn’t it now obvious that this company is effectively bust?
Can’t help thinking the shares are heading towards the biggest bear squeeze in history!
P.S.
Advertisement wallpaper is driving me mad, too! Can’t read any print! How can I get rid of it?
MS
I find myself wondering how PwC are going to get paid for a few months work.
I find it doubtful they would accept QPP shares as consideration.
AK47
Well done Tom. Great find. I am shocked that the shares are hovering around 90p still. The BB Jihadists must be buying them, thinking they have a bargain.
turbograndad
The shape of things to come, domino effect of all things Quindellron.
Sweet Karolina
Tom,
You don’t understand QPP have a great defence and are confident of victory, but will settle out of court for a load of QPP shares and $1m just to save the3 ongoing legal costs, makes really good business sense.
Oh silly me that is a different worthless QPP subsidiary that they over paid in shares for so they could be dumped on the market that also ripped people off got sued and has only added to the mounting cash crisis.
MS
Tom, I´m as skeptical about QPP as you are, so about winding up orders, CCJ´s and what not…
I´ve used software before which creates credit scores (eg¨HScores) & which also looks at CCJ´s, fancy ratios and all that good stuff. I´m guessing you have similar stuff. Looks at private companies as well as public.
It´s amazed me how many big, stable, cash generative companies have CCJ´s. Sometimes I think it´s just down to corporate admin cocking things up. Room to improve etc, but not necessarily a doomsayer moment. Yes, I agree, CCJ´s are evidence, but I´m not sure too much is to be read into them.On winding up orders. How many of them lead to companies being wound up, and how many are miraculously made to go away once the target company suddenly finds some cash in the biscuit tin?
Fordster
MS speaks sense – don’t get too carried away, the bigger the firm, generally the more admin cock ups and chains of command there are to get things done. And certain firms may have 65 sign offs to order a box of pens.
Dominic Cooper
The Insolvency Rules:-
Before a winding up petition can be advertised on the London Gazette, you have to:-
1) Have evidence that a debt is due (i.e. unpaid invoice).
2) Have evidence that the debtor company refuses to pay. Either serve a Statutory Demand and wait 21 days, or serve a formal written demand letter and wait a reasonable amount of time.
3) Draw up the petition and get it issued by the Companies Court (or your local Chancery District Registry).
4) Wait for the court to process the petition and send it back to you.
5) Serve the petition on the company in the prescribed way by getting it hand delivered to the registered office.
6) Wait seven clear business days (business days, not calendar days). in practice, this means if you serve on a Tuesday, you have to wait [Wednesday, Thursday, Friday, Monday, Tuesday, Wednesday, Thursday] and then advertise it on the following Friday. So they have in practice almost a fortnight.
7) Once the petition is advertised, the world at large is deemed to know about the petition. IF (which of course does not always happen, but often does) the company is wound up, the date of insolvency is the date of presenting the petition at court, not the date of the order. All transactions after that date are void, and any money paid out can be claimed back (unless there is a validation order, which there won’t be).
8) Because of number 7) above, the practice of all banks upon a London Gazette advertisement is to freeze bank accounts so that they aren’t found liable for aiding the insolvent company in dissipating its assets.
9) Even if the original creditor is paid, once a petition has been issued, any other creditor owed money can take it over and request a winding up. Because of number 7) above, this would mean that the payment to the original creditor would be invalid, so if a large creditor were paid £150k, this is an invitation for smaller creditors to get in and demand payment.
So, whilst I accept that there are many CCJs registered against banks, and Tesco, etc. because they are big and people sue the local branch which takes time to get to head office and so on before they can defend, and when they do it is cheaper to pay the £200 then argue.
But people don’t “accidentally” forget about winding up petitions that close your company down!
Claims Specialist
EAD are near neighbours of Silverbeck Rymer and do an awful lot of Noise Induced Hearing Loss (NIHL) work.
Could it be that Target the Market are owed marketing fees for NIHL work sent to QLS?
Sweet Karolina
MS and Fordster,
You are right and you are wrong. How many CCJs and winding up orders did QPP subsidiaries have before they were in an obvious cash crisis?
Suddenly 2 in a matter of weeks? These are not like London buses that come in 3s. This is the beginning of the dam bursting.
How many of the big companies that pick up a CCJs because of admin cockups are also on the Dun & Bradstreet list of crap payers with an average time beyond due date to pay of over 120 days? Yes I get that big companies can make the occasional cock up and some suppliers have their own cash crisis and CCJ at the first opportunity, but an average 120+ days beyond due date to pay! 2 in a few weeks! Once suppliers see that this is the only way to get paid for what they have done and that the prospects of future business are pretty bleak anyway this will become a flood not the early trickle we are seeing and BBMs are just kissing off as irrelevant.