UK 19:05 Friday, 23 October 2026
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One of the things that jumps out from the 2014 Quindell (QPP) accounts was the candid level of disclosure about the NIHL business. Rob Terry and the rest of the committing fraud squad would never have given this much info. Schoolboy errors all round from the Newbies. Bearing in mind that previously the first anyone ever heard of this shit was the investor presentation in June 2014 and that which we at ShareProphets subsequently pulled to pieces, the starting point has to be the numbers of claims.
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Comments
Daniel Victor
But then,if you are running low on cash,why stump up for Quindell in the first place ? [ I suspect a possible answer,but cannot say ].
DUCK AND DIVE
How many claims did S&G buy from QPP to enable it to carry out due diligence prior to making an offer?
http://www.asx.com.au/asxpdf/20150123/pdf/42w4d87sk12pfl.pdf
Dominic Cooper
Interestingly, broadster-in-chief, Robert Simon Terry, has (bizarrely) come clean, by saying on his Quob Park Fraud In Waiting venture, that he sees a benefit of being a listed company on AIM is that allows you to use worthless confetti (paid for by mug punters of course) to buy other companies.
As an aside, Terry has openly stated that his game plan is to buy other companies using Daniel Cesspit toilet paper (sorry, I meant Daniel Stewart stock), thus enabling two plus two to equal five.
And that, I suspect is the issue relating to Slater plus Gordon. They have bought companies using share capital simply for the purposes of getting bigger. And soon, the plates stop spinning and the fact that these companies are cash draining horseshit becomes reflected in the share price.
But if you continue to buy more and more and larger and large companies, like some sort of capital Ponzi Scheme, the share price reflects the capitalisation of these acquisitions, rather than their profitability.
Problem for S + G is that it hasn’t worked. No doubts where this will end…
2+2=4
The Aussies also had problems with his son Stuart
VINES
If youre saying Quindell got £649m from selling the division way above value, then will you give Quindell credit for creating that value for its shareholders? the more you say S+G did a bad deal for its shareholders, the more your saying Quindell won that value for its shareholders. otherwise your having your cake and eating it too.
filthy lucre
I agree with Vines. QPP did well to sell PSD for a decent price, proving your 0p valuation
wrong. NIHL claims now have absolutely nothing to do with QPP.
When did you expand your reach to cover the shorting of Aussie stocks?
If you spread your net too wide, you will screw up more.
Dominic Cooper
The new board of Quenron did a cracking deal to get paid money for selling QLS. I said at the time (as did others) that it made no commercial sense for Slater plus Gordon to spend half a billion on buying QLS when they knew that – had they simply sat back and waited a couple of months – loss making Quenron would have been forced to throw in the towel and they could have bought QLS from the Administrators for nothing. Indeed recent Aussie Stock Exchange RNSs say that S + G knew about all the accounting irregularities (see this RNS in which it says the situation is ‘consistent with its due dilligence’) – http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01648227
Knowing that, and knowing that QPP’s only hope would have been another placing and / or debt finance – none of which would be viable for the company – why pay to get Suindell out of jail? Makes no sense!
DUCK AND DIVE
To answer my own question, S&G bought an ‘advance’ of 8000 cases for due diligence…
http://www.asx.com.au/asxpdf/20150806/pdf/430bcmhlt2fsjh.pdf