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Aiden Earley clarifies Worthington Keighley mystery – it was all the fault of Companies House

By Tom Winnifrith | Thursday 17 September 2015


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.


It appears that the puppet nominal CEO of Worthington (WRN), Mr Doug Ware, is away because it is Aiden Earley who has been in touch to clarify the position regarding the earlier article…Worthington has done nothing wrong…natch. 

The earlier piece is HERE

Mr Earley states:

Companies House received the Court order on 16th September 2014 (i.e last year). The failure to change it was not Worthington's error. And Worthington's accounts clearly state that there are secured loan notes of £475,000. Renatus is merely the security trustee (common in debentures) not the beneficiary. The failure of Companies House to make the alteration was only noticed recently. 

If you say so Aiden. 

So who got the cash? If it was Worthington what was it spent on. How much remains? Are the loan notes outstanding? What are they now secured against? And will you complete the RTO of bankrupt Nuna Minerals by the deadline of tomorrow evening? 


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Comments

3 comments

  1. Next question, What about the debenture still outstanding to Advanced Industrial Technology Corporation Limited that has security over Keighley property, even though the Keighley deal has completed?


  2. Doug away at such a crucial time for emerging conglomerate Worthington Group PLC?

    Maybe he’s in Glasgow ‘answering a few questions’ about The Rangers FC Group PLC . . .

  3. Maybe they are all too busy reversing into that bankrupt entity Nuna to deal with such trivia?

    t


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