I work as an Insolvency and Business Recovery specialist. The courts cannot force PVD to continue to trade but they can make judgement that they have to pay there debts. It doesnt mean too much and if the company doesnt its likely that it will get wound up and placed into complusory liquidation next time the case is in court.

It seems most likely that PVD is insolvent and have ceased to trade as it is illegal to trade whilst insolvent. The directors will then wait for a creditor to wind the company up in court or appoint an Insolvency Practitioner to wind the company up

companys house has PVD as still 'Live'

AND the bloke said that until the authorities tell them otherwise they will remain that way.

so VT may be right, he may also be wrong.

Sigh

been on hold for 10 mins :(

sexy irish lady keeps thanking me for waiting tho' :rolleyes:

give your local trading standards a ring, i'm sure they'll tell you the same, if not they lie :lol:

The reason I asked for concrete proof is that there are quite a few of us on vx220.org.uk that are owed quite a few quid too :(

i didnt want to post there that PVD are still up and alive without some firm evidence :thumbs:

well by all means have your opinion, people who would like to read this can believe what they wish to also, i just thought i'd share it thats all

*cough* veil of incorporation *cough*

:(

[Edited on 04-08-2004 by benny_h]

The courts CANNOT do that.

If you enter into voluntary insolvancy (which i thought Pete) did

edit: I Didnt mean individuals, I assumed you'd read it somewhere ;)

[Edited on 04-08-2004 by benny_h]

[Edited on 04-08-2004 by benny_h]

i don't think sharing my 'sources' will benefit any of you

quote:

---

Originally posted by benny_h
errr,

that doesnt make sense....ie they cant shut down until they pay off all their debts

care to share where you got that info? :wave:

---

i'm not sure mate, reason i posted this was because i know there are a few people on here who depend on their refunds etc

i was talking to one lad and he ordered a suspension kit ,due to his 2litre conversion he needed a stronger one,order one from pvd, didnt receive it so his standard suspension eventually gave up, didn't have the money to fix it,didn't have new suspension so he had to sell his motor

in other words from what im making of this, the courts reckon that if they shut down now no one gets their money back and pete still has loads profits so to make him pay for it they have to pay all the debts back thus meaning pete will lose out

errr,

that doesnt make sense....ie they cant shut down until they pay off all their debts

care to share where you got that info? :wave:

so will they hav a clearance sale :P

PVD ARE STILL TRADING

Leeds Crown Court have ordered PVD to pay back all its debts and any court costs that people have paid to take action against PVD.

There were also told that they aren't allowed to shut down until all debts are paid/goods removed

so people who have been fleeced and a bit worried from the post that was made a month ago about them shutting down, you should get your money back folks.

edited due to bad typing

[Edited on 04-08-04 by VenomTurbo]