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In my original post I didn't want to come across as being blunt but I think perhaps people are not reading it the way I intended.
Basically the company "Vesternet Ltd" became insolvent and was placed in administration in February 2017. The administrators allowed the company to continue trading because they believed that it would be in the best interests of the creditors. Of course they would, given the extortionate fees they will undoubtedly receive out of the deal.
Reading through the statement of affairs, it would appear that the "Vesternet" website was owned personally by the managing director and is now conveniently being operated by another company which is wholly owned by the spouse of the managing director, whilst the "Vesternet" limited company leaves behind debts close to half a million GPB.
It also appears that the managing director owed the company a considerable sum however as he is apparently pursuing an IVA, I wonder how much of that will be repaid and available to creditors.
Having run my own businesses for many years here in the UK and always paying all my creditors and taxes etc, it really pi**es me off when I see this blatant abuse of the system leaving the creditors and the tax payer to pick up the bill.
Paul..
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Originally posted by sooty View PostIn my original post I didn't want to come across as being blunt but I think perhaps people are not reading it the way I intended.
Basically the company "Vesternet Ltd" became insolvent and was placed in administration in February 2017. The administrators allowed the company to continue trading because they believed that it would be in the best interests of the creditors. Of course they would, given the extortionate fees they will undoubtedly receive out of the deal.
Reading through the statement of affairs, it would appear that the "Vesternet" website was owned personally by the managing director and is now conveniently being operated by another company which is wholly owned by the spouse of the managing director, whilst the "Vesternet" limited company leaves behind debts close to half a million GPB.
It also appears that the managing director owed the company a considerable sum however as he is apparently pursuing an IVA, I wonder how much of that will be repaid and available to creditors.
Having run my own businesses for many years here in the UK and always paying all my creditors and taxes etc, it really pi**es me off when I see this blatant abuse of the system leaving the creditors and the tax payer to pick up the bill.
Paul..
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Originally posted by sooty View PostIn my original post I didn't want to come across as being blunt but I think perhaps people are not reading it the way I intended.
Basically the company "Vesternet Ltd" became insolvent and was placed in administration in February 2017. The administrators allowed the company to continue trading because they believed that it would be in the best interests of the creditors. Of course they would, given the extortionate fees they will undoubtedly receive out of the deal.
Reading through the statement of affairs, it would appear that the "Vesternet" website was owned personally by the managing director and is now conveniently being operated by another company which is wholly owned by the spouse of the managing director, whilst the "Vesternet" limited company leaves behind debts close to half a million GPB.
It also appears that the managing director owed the company a considerable sum however as he is apparently pursuing an IVA, I wonder how much of that will be repaid and available to creditors.
Having run my own businesses for many years here in the UK and always paying all my creditors and taxes etc, it really pi**es me off when I see this blatant abuse of the system leaving the creditors and the tax payer to pick up the bill.
Paul..
Note that the safest time to buy anything from a company is while the Administrators are running it!
Scott
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Originally posted by sooty View PostIn my original post I didn't want to come across as being blunt but I think perhaps people are not reading it the way I intended.
Basically the company "Vesternet Ltd" became insolvent and was placed in administration in February 2017. The administrators allowed the company to continue trading because they believed that it would be in the best interests of the creditors. Of course they would, given the extortionate fees they will undoubtedly receive out of the deal.
Reading through the statement of affairs, it would appear that the "Vesternet" website was owned personally by the managing director and is now conveniently being operated by another company which is wholly owned by the spouse of the managing director, whilst the "Vesternet" limited company leaves behind debts close to half a million GPB.
It also appears that the managing director owed the company a considerable sum however as he is apparently pursuing an IVA, I wonder how much of that will be repaid and available to creditors.
Having run my own businesses for many years here in the UK and always paying all my creditors and taxes etc, it really pi**es me off when I see this blatant abuse of the system leaving the creditors and the tax payer to pick up the bill.
Paul..
But this all ties in with my experience with Vesternet going downhill a little. Its a shame.
But I am very glad for your post, it explains a few things, and I just got my neighbour into zwave, and recommended Vesternet for their prices and good return policies. Maybe I will tell him to be a bit more catious with them.
Thanks for that Paul, I guess I might have to find another supplier for my neighbour and myself...
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Originally posted by sooty View Post
Basically the company "Vesternet Ltd" became insolvent and was placed in administration in February 2017.
Paul..Win 11 Pro | HS4 Pro | Z wave plug in with UZB1 | BLUSBUIRT 2.0.11.0 | RFXtrx433 | Blue Iris CCTV | VU+ 4k with motorised dish | Emby | Hi-Phone HS2 | ESP32 with WLED |
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Originally posted by Traction Tim View PostPaul, thanks for this. I was totally unaware, and was about to put in another order. I have also bought multiple Z-wave items from them, and everything up to now was delivered safely and quickly. What a shame
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Originally posted by ScottRennie View PostI would put in that order now if you need stuff. There's no safer time to buy as your buying from the administrators, not Vesternet Ltd
The vesternet website is no longer operated by Vesternet Ltd but is now operated by Smartech Holdings Ltd.
Paul..
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I have bought from them a few times since sootys original post (and a lot before they changed hands), and they seem fine. Customer service is still ok (returning unwanted/not working with HS3) items was not a problem. They used to give good discounts on bulk purchases, now they do not any more. I used to buy 100% through them, now its maybe 20% but thats only due to better deals elswhere.
Just my personal experience, I do not have any affiliation with them
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