Tag Archives: bankruptcy

Nationwide Christian Trust Enters Insolvency

Don’t want to comment here?
Join the conversation on facebook instead (or as well)…

NATIONWIDE CHRISTIAN TRUST, owners of Living Oasis, the collapsed chain of Christian bookshops that took over nineteen of the former Wesley Owen shops, has now entered insolvency. Formal notice to suppliers, signed by Ray George, was issued on August 1st 2011, inviting them to submit claims and attend a first meeting of creditors to be held on Wednesday August 17th in Hornchurch, Essex:

Insolvency Notice issued by Nationwide Christian Trust 1st August 2011

Insolvency Notice issued by Nationwide Christian Trust 1st August 2011

Company Number: 04479539

NATIONWIDE CHRISTIAN TRUST T/A LIVING OASIS

INSOLVENCY ACT 1986

NOTICE OF THE FIRST MEETING OF CREDITORS

NOTICE IS HEREBY GIVEN pursuant to section 98 of the Insolvency Act 1986 that a meeting of the creditors of the above named Company will be held at 43-45 Butts Green Road, Hornchurch, Essex, RM11 2JX on 17 August 2011 at 11.00am for the purposes mentioned in sections 99, 100 and 101 of the said Act. Resolutions to be taken at the meeting may include a resolution specifying the terms on which the Joint Liquidators are to be remunerated and the meeting may receive information about, or be called upon to approve, the costs of preparing the statement of affairs and convening of the meeting.

The notice goes on to provide instructions to creditors on how to submit claims and advises that a full list of creditors will be available for inspection on the two business days immediately before the meeting.

IBS-STL UK: “a sustainable business ministry model going forward”

IBS-STL UK Trade Announcement 15/09/09

IBS-STL UK Trade Announcement 15/09/09

In a new trade missive released this afternoon, Tuesday 15th September, Keith Danby has sought to further clarify IBS-STL UK’s trading position, reassuring trade partners that “there is a sustainable business ministry model going forward”, reiterating the company’s ongoing commitment to the UK trade and thanking those who have supported the company through prayer:

On the 14th August I made a statement about the current trading position of IBS-STL UK. This was in response to concerns within the trade and rumours circulating regarding our solvency. At that time I informed you that we were neither going into liquidation nor administration and that we were in discussions with our bank, suppliers and external auditors to seek out ways in which we could work together to help improve our current cash flow problems and secure our future.

A team of external Accountants have since conducted a business review of the UK charity, and I am pleased to advise you that they have filed a report highlighting that although IBS-STL has been experiencing some severe cash flow difficulties during the summer months there is a sustainable business ministry model going forward.

We still face significant challenges in this current financial year and are continuing to work hard with our professional advisors, bankers and suppliers to resolve our cash flow challenges and return to normal trading conditions as soon as possible.

IBS-STL UK – Danby Speaks: there is no immediate crisis within the Charity

IBS-STL UK Trade Announcement 14/08/2009Keith Danby, Global CEO of IBS-STL/Biblica has spoken out in a Trade Announcement issued this afternoon to quell rumours that IBS-STL UK may be “going into ‘liquidation’ or ‘administration’”, reassuring the trade that “there is no immediate crisis within the Charity” and reaffirming his own personal “commitment to support the UK Christian trade both in the retail and supply sectors.”

There have been a number of rumours circulating suggesting that IBS-STL U.K. is going into ‘liquidation’ or ‘administration’. I can confirm that the charity is neither in liquidation, nor in any form of administration.

A number of factors including the SAP implementation have caused STL Distribution serious Supply Chain difficulties, which have resulted in severe cash flow problems.

I met with a number of our key suppliers earlier this week in London to appraise them of the situation…

SPCK/SSG Update

First, my thanks to everyone who has expressed concern over or offered support — whether publicly or privately — about the ongoing shenanigans with the former SPCK Bookshops. If you’re new to the situation, please read SPCK/SSG: My Story, a brief account of my own involvement.

In general I’ve tried to keep reporting on this situation separate, in the dedicated SPCK/SSG Blog, but we are now at a point where some things may be about to be resolved and wider media attention to the story seems likely.

To summarise: 

At the end of August J Mark Brewer (the Texas attorney who threatened me, Dave Walker and several others with libel action if we refused to stop reporting on this situation) had his case thrown out of the US Bankruptcy Courts with prejudice and as having been submitted in bad faith. This month, Randy Williams, the Trustee to the US Bankruptcy Courts, filed a motion for sanctions against Mr Brewer and his law company, Brewer and Pritchard, P.C.

Brewer has responded with an acknowledgment of some fault but has by no means pleaded guilty to all charges: his full response may be downloaded as a pdf from the SPCK/SSG Downloads page, and Matt Wardman and David Keen have offered some helpful analysis of Brewer’s response.

Meanwhile, back here in the UK, Employment Tribunal hearings for at least 30 former bookshop workers are scheduled to take place tomorrow, Thursday 18th September, in Bury St Edmunds. Please keep those concerned in your prayers.

To conclude, for now:

Mark and Philip Brewer’s behaviour and their frankly abominable treatment of their staff, present and former, as well as their reprehensible attitude towards their customers and suppliers, impacts on the entire Christian book trade and risks bringing all of us into disrepute. On the  SPCK/SSG Blog we have therefore issued a call for anyone with potential evidence that may help with any future legal actions against the Brewers here in the UK to step forward with that evidence: Collecting the Evidence. Links to relevant material may be posted publicly via the comments or may be submitted privately, direct to me.

Thank you.

Questions Raised over SSG ‘Bankruptcy’

Respondents to both this site and Dave Walker’s recent related posts (Dave’s Backup Site | Dave’s Main Site) are asking searching questions about the legitimacy of SSG’s apparent filing for bankruptcy.

Citing USA website lawyershop.com, ‘canon law’ and ‘mm’ — who may well be the same person using different aliases — have expressed concern over the possibility of Bankruptcy Fraud:

Bankruptcy Fraud
Bankruptcy, by definition, is when a debtor is declared – either by creditors or his own account – legally insolvent. His property is liquidated and divided among his creditors to pay his debts. But when a debtor falsely claims bankruptcy, attempts to conceal his assets, launches petition mills or files multiple claims, he is committing bankruptcy fraud – a federal offense.

Types of Bankruptcy Fraud
Concealment of assets, petition mills, and multiple filings are the most common types of bankruptcy fraud.

Concealment of Assets
Concealment of assets accounts for nearly 70 percent of all fraudulent bankruptcy cases filed by individuals. This type of fraud occurs when a person purposely fails to list every one of his assets on his bankruptcy claim, knowing that creditors cannot liquidate valuables of which they are not aware. Similarly, business owners frequently conceal assets when filing for bankruptcy – they transfer money or properties to their relatives’ or associates’ names so that the assets cannot be confiscated.

Observations over the weekend from ‘justflyingkites’ certainly seem to support this possibility and raise the further question of whether filing for bankruptcy in the USA can, in any case, apply to SSG as a UK registered charity:

According to advice from USDAW (they say they have not had enough time to research thoroughly) a charity registered in Britain cannot be made insolvent through the American courts. USDAW has discovered that the ENC management company consists of the Brewer brothers and one of their wives.

As for hiding their assets – the two independent shops have been told to deposit takings in a new bank account in the name of Saint Stephen the Great Charitable Trust.

Whatever eventually emerges, one thing seems sure: the Brewers’ behaviour — in their treatment of their staff, in their general communications and in their business dealings — falls far short of the standards of honesty and integrity one might hope to expect from a Christian organisation. This is nothing new, of course: the history of Christianity is littered with examples of abuse and devious dealings done, supposedly, in the name of Christ. I find myself wondering if Spencer Burke has the right of it when he says:

Maybe the greatest gift the Christian religion can offer the world right now is to remove itself from the battle for God. Perhaps it’s time to release the claim to universal privilege it grants itself as the only “true religion”. 

(p.48, A Heretic’s Guide to Eternity)

On the other hand, I find myself somehow not yet ready to roll over and die, to concede defeat to the likes of the Brewers. Perhaps as Steph, another respondent here, has commented, I am naive, but I’d sooner go down in history as naive than silent. I am also uncomfortably aware of Jesus’ remarks about judging others, but again, are we not called to speak out against injustice and dishonesty when we see it? Again, I do not consider silence to be an option.

As last time, watch this space…