Selling M lenses

[Ecar]

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The list was attached to his IVA proposal, which was rejected by his creditors about a year ago. I believe others have tried to go to the Police, so far to no avail. I have sent you separately the contact details of the UK government office's person who is in charge of the case.

[Ecar]

https://www.falmouthpacket.co.uk/news/23570866.peter-walnes-76-sentenced-fraudulent-business/

[farnz]

6 hours ago, Ecar said:

https://www.falmouthpacket.co.uk/news/23570866.peter-walnes-76-sentenced-fraudulent-business/

I recall you saying that you'd had trouble with Warnes so may I respectfully enquire whether you were left out of pocket in the end?

Pete.

[pedaes]

See also 

 

[Ecar]

On 6/11/2023 at 3:23 PM, farnz said:

I recall you saying that you'd had trouble with Warnes so may I respectfully enquire whether you were left out of pocket in the end?

Pete.

Sadly yes... I doubt he has any visible assets that can be seized and liquidated, so I'm not expecting to recover anything.

[pgk]

15 minutes ago, Ecar said:

Sadly yes... I doubt he has any visible assets that can be seized and liquidated, so I'm not expecting to recover anything.

There are items still on his website. Might the administrators be able to seize any owned by Walnes?

That said, my experience is that once a business is bust then it is near impossible to get anything from the assets as I seem to be well down the list of anyone getting any compensatory payments.

Edited June 13, 2023 by pgk

[farnz]

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1 hour ago, Ecar said:

Sadly yes... I doubt he has any visible assets that can be seized and liquidated, so I'm not expecting to recover anything.

I'm sorry to hear that, Ecar.

Pete.

[pedaes]

24 minutes ago, farnz said:

I'm sorry to hear that, Ecar

+1. It must be galling that he can enjoy the sunshine. 

A bit of trivia. Walnes once worked at a photographic dealers in Bournemouth with Gray Levett and Robert White. Greys of Westminster remains a top Nikon dealer and when Robert White died prematurely the subsequent Bonhams auction https://www.bonhams.com/auction/23871/the-robert-white-collection/ and other sales (Jay Leno bought his collection of Vincent motorcycles for a rumoured  £6m) raised literally tens of £m's which he left to the local NHS to develop a cancer centre in his name. Not bad for a Leica dealer! And there is Walnes....

[T25UFO]

2 hours ago, Ecar said:

Sadly yes... I doubt he has any visible assets that can be seized and liquidated, so I'm not expecting to recover anything.

Probably worth enquiring who is responsible for winding up the business.  It should either be an Insolvency Practitioner or the Official Receiver.

If you register your interest you should be an unsecured creditor and be entitled to your proportion of any dividends declared from the insolvent estate.

Of course, there may be no dividends as preferential creditors and secured creditors will take their share first, but it costs nothing to register your claim.

[Ecar]

Thank you, gentlemen.

I was one of those who submitted a witness statement and have therefore been sort of "wired in" the legal process from the outset. Incidentally, I must say that Trading Standards in Cornwall handled the matter in a highly professional and helpful manner.

FWIW, there were far more than 16 victims, this must be just the number of those of us who went all the way to ensure that Walnes couldn't do more damage than he already has. My loss, while substantial (he essentially stole one of my 50/1.1 S-mount Nikkors) was far from being the largest. Perhaps we'll get a few pennies on the pound when this is over...