Topic: Mongoose Cricket possibly in trouble? (Read 20424 times)

TheBoyLegend · « **Reply #15 on:** June 13, 2011, 12:01:24 PM »

Quote from: king pair on June 13, 2011, 11:57:40 AM

TheBoyLedgend, you are right we do not have chapter 11 style protection as they do in the US. What the poster may be referring to is a moritorium that is put in place over the company once a "notification of intention to appoint an administrator" is filed with the courts.

Companies house would not yet show anything as the NOI is a court document, the first CH document you would see would be a notification of the appointment of an administrator circa 10 days after any appointment takes place. (All of this is assuming Mongoose is a limited company of course?! I havent checked)

I will have a word with a few colleagues and see if anything has been heard.

Thanks King glad Im not going Mad!

jonpinson · « **Reply #16 on:** June 13, 2011, 12:04:40 PM »

I agree no smoke without fire but the only source steems to be.one person who has set up a twittering account only tks spread the word about mongoose. Although i have a gut feeling that this will indeed turn out to be true, i think we should wait until we havemore tangible evidence.

King pair · « **Reply #17 on:** June 13, 2011, 12:05:00 PM »

It is illegal to trade whilst insolvent, however it may have been decided that a sale of the business as a going concern is going to be affected. This maintains value in the company for the benefit of creditors as a trading company is worth more than one that has been shut down.

If this is the case a SIP9 document would have to be produced immediately upon the company going into administration and we should start to hear about it very shortly. (any creditors will receive notification).

I think we should try and find out if there is any truth before speculating anyway.

King pair · « **Reply #18 on:** June 13, 2011, 12:12:52 PM »

Quote from: tim2000s on June 13, 2011, 12:00:12 PM

Mongoose is registered with Companies House.

It is a limited company then yes.

Quote from: iand123 on June 13, 2011, 12:01:19 PM

I think going into administration allows you to still trade but filing for bankruptcy means you cant as you say tim2000s

interesting to see if this is true or not

Trading Administrations can take place yes, as I say so that the company can be sold as a going concern rather than being shut down. Companies cannot become bankrupt only individuals. The company equivalent of bankruptcy is liquidation. This usually takes palce when there is no value in the company to be realised by the administrator. With the specialist equipment held by such a company I would suggest Administration would be the case.

Never nice to hear if it is true but on the positive side, there may be some cheap bats knocking around very shortly!!!

Lekka Global Alliance · « **Reply #19 on:** June 13, 2011, 12:18:05 PM »

King Pair, it means in truth the signatures have committed fraud.

iand123 · « **Reply #20 on:** June 13, 2011, 12:22:20 PM »

Quote from: king pair on June 13, 2011, 12:12:52 PM

It is a limited company then yes.

Trading Administrations can take place yes, as I say so that the company can be sold as a going concern rather than being shut down. Companies cannot become bankrupt only individuals. The company equivalent of bankruptcy is liquidation. This usually takes palce when there is no value in the company to be realised by the administrator. With the specialist equipment held by such a company I would suggest Administration would be the case.

Never nice to hear if it is true but on the positive side, there may be some cheap bats knocking around very shortly!!!

Barrington sports were already selling the premium MMi3 and the Cor3 for �120

johnnyw · « **Reply #21 on:** June 13, 2011, 12:24:32 PM »

If this is true, then the writing was always on the wall. It was predicted that they were the next company to go down the drain

King pair · « **Reply #22 on:** June 13, 2011, 12:32:58 PM »

Quote from: Lekka Global Alliance on June 13, 2011, 12:18:05 PM

King Pair, it means in truth the signatures have committed fraud.

Erm, I think perhaps this is a bit of a big shout LGA, especially when we dont even know if there is any truth in the story!!!

Placing a company into administration is in no way fraudulent!!!!! It is a legal process controlled and govened by regulating authorities.

tim2000s · « **Reply #23 on:** June 13, 2011, 12:38:52 PM »

King Pair, what are the rules governing filing accounts with Companies House?

King pair · « **Reply #24 on:** June 13, 2011, 12:48:54 PM »

Quote from: tim2000s on June 13, 2011, 12:38:52 PM

King Pair, what are the rules governing filing accounts with Companies House?

Mongoose have exemption from filing detailed accounts due to the fact the qualify as a small company. The limited items they do file are due in September.

If they are in fact in Admin they will have no further duty to file such accounts. An outline of the financial position would be detailed in the Administrators report to creditors afer 8 weeks.

Watsontotty · « **Reply #25 on:** June 13, 2011, 12:51:16 PM »

Mongoose cricket limited which is based in Mary street taunton is this the correct mongoose or not ? if someone can confirm the directors i can give some information. Marcus Codrington Fernandez is the director of the above is this them.

harry kovert · « **Reply #26 on:** June 13, 2011, 12:52:40 PM »

Quote from: Watsontotty on June 13, 2011, 12:51:16 PM

Mongoose cricket limited which is based in Mary street taunton is this the correct mongoose or not ? if someone can confirm the directors i can give some information. Marcus Codrington Fernandez is the director of the above is this them.

Affirmative.

Watsontotty · « **Reply #27 on:** June 13, 2011, 12:56:07 PM »

No accounts listed that i can see however they have substantial loss against the shareholders funds which could mean nothing, no ccj that i can see however there credit rating is low and I'm not sure i should commnet any further.

harry kovert · « **Reply #28 on:** June 13, 2011, 12:58:42 PM »

Facts will come out soon enough no doubt.

tim2000s · « **Reply #29 on:** June 13, 2011, 01:03:48 PM »

Quote from: Watsontotty on June 13, 2011, 12:56:07 PM

No accounts listed that i can see however they have substantial loss against the shareholders funds which could mean nothing, no ccj that i can see however there credit rating is low and I'm not sure i should commnet any further.

Low Credit Rating is always an interesting one as it often doesn't indicate anything. I know of a couple of large international companies with very bad credit ratings in the UK due to the company structure.

Author Topic: Mongoose Cricket possibly in trouble? (Read 20424 times)

TheBoyLegend

Re: Mongoose Cricket Files for bankruptcy protection

jonpinson

Re: Mongoose Cricket Files for bankruptcy protection

King pair

Re: Mongoose Cricket Files for bankruptcy protection

King pair

Re: Mongoose Cricket Files for bankruptcy protection

Lekka Global Alliance

Re: Mongoose Cricket possibly in trouble?

iand123

Re: Mongoose Cricket possibly in trouble?

johnnyw

Re: Mongoose Cricket possibly in trouble?

King pair

Re: Mongoose Cricket possibly in trouble?

tim2000s

Re: Mongoose Cricket possibly in trouble?

King pair

Re: Mongoose Cricket possibly in trouble?

Watsontotty

Re: Mongoose Cricket possibly in trouble?

harry kovert

Re: Mongoose Cricket possibly in trouble?

Watsontotty

Re: Mongoose Cricket possibly in trouble?

harry kovert

Re: Mongoose Cricket possibly in trouble?

tim2000s

Re: Mongoose Cricket possibly in trouble?