By Tom Winnifrith | Saturday 22 October 2016
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.
Oh dear, oh dear. Don't tell the bulletin board morons on the LSE Asylum but the house of cards that is the fraud Worthington (WRN) is now collapsing faster than you can say "golden ticket". Already facing personal bankruptcy proceedings as we revealed here, disgraced Allan Biggar now faces the loss of his marital home as we can reveal today.
This is not to do with his Worthington woes but due to the collapse of his previous business All about Brands. The liquidator has just filed his latest report which you can read HERE.
It seems that Biggar and his Mrs owed AAB a stack of dosh which the liquidator is saying was removed in an unauthorised fashion and now must be repaid. Who would have thought that anyone involved in Worthington would show such poor ethical judgement?
You will note Note 2.15
"However I am disappointed that despite the agreement of terms, I have yet to receive the signed settlement agreement and paperwork to grant the charge over Mr and Mrs Biggar's matrimonial property. If there is no prospect of concluding this deal in early course then i will have no option but to look to commence proceedings to recover amounts due to the company."
Oh dear. Oh dear. I'd hate to think of poor Mr Biggar and his good lady wife losing their house as the snows of winter start to fall. Where shall we sleep asks Mrs Biggar? Allan replies that his pal Aiden says that the clubhouse at Banstead Athletic is going spare.
Oh dear, Oh dear. The woes of the Worthington shysters are starting to stack up are they not?
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