VESTA CONSTRUCTION LTD

Unable to pay debts

This is a company whereby its director, Jamie Scott KNOWLES has made excuse after excuse over 2 years for non-payment. primarily that they have not been paid. He has said directly to our client "Yeah Mate we won't be bumping anyone for the amount of money" yet that is exactly what they are doing. They promised payment 1 year ago and it did not arrive. They have also stated "just a thought it might help you out in the long run if you get shut down. Take one of you off as a director if they shut you down you'll not be be allowed to be a director again for so many years I think." then they stated "Least you can set up another company that way" So, rather than pay the debt owing, they are advising my client to close they are suggesting that our client's director closes his own company down" When we got involved, it looked promising, amicable conversation, payment plan proposed but, one that had to be rejected as it was not realistic and given comments made to our client re shutting down their company, we felt there was a high risk that this is what the directors of VESTA CONSTRUCTION LTD were planning. Nevertheless, we put a proposal forward that would enable the debt to be paid and at the same time save the debtor some money on interest and costs etc. despite showing willingness to accept this offer and having made a part payment, the agreement was never signed and the second payment was not forthcoming. Instead all that has followed is vague promises of paying when paid. In essence, the same as they have been saying for two years. This has just resulted in the matter being escalated by us. We think there is a real risk of an insolvency event occurring for this company and as such, potential suppliers would be well advised to ensure they carry out due diligence and seek suitable guarantees.

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