Caudwell Communications (Coolnewmobile) Getting Taken Over By Pipex

caudwell.com/pre…pdf
Coolnewmobile = Taken Over
Likely reason for good deals atm

3 Comments

perhaps also more likely to be "nice"?

Edit: Just realised it is 8 months 1 week old, not just 1 week lol.

Couldn't find the thread dealing with the cashback crisis so will post here, just got sent this:

TO ALL KNOWN CUSTOMERSOur ref PML/RG/RD/IB/ADM0307/MOBI101/102/HDear … TO ALL KNOWN CUSTOMERSOur ref PML/RG/RD/IB/ADM0307/MOBI101/102/HDear SirsMobile Affiliates Limited t/a Coolnewmobile and Phones2yourdoor - InAdministrationBirmingham County Court No. 5302 of 2007Mobile Media Systems Limited t/a Phoneboxdirect - In AdministrationBirmingham County Court No. 5303 of 2007I would advise you that I was appointed Administrator of the abovecompanies jointly with my partner Alistair Steven Wood by thedirectors on 14 November 2007. I am authorised to act as anInsolvency Practitioner by the Department of Trade & Industry and mypartner is authorised by the Institute of Chartered Accountants inEngland & Wales. The companies have ceased trading and their offices are now closed.The statutory purpose of an Administration consists of threeobjectives: · rescuing the company as a going concern; · achieving a better result for the company’s creditors as awhole than would be likely if the company were wound-up (withoutfirst being in Administration); · realising property in order to make a distribution to one or moresecured or preferential creditors;Within eight weeks (or such longer period as the court may allow) ofthe date of the Administration Order, I am required to prepareproposals which I will publish on the Joint Administrators’ website[url]www.phoneboxdirectinformation.com[/url].As Joint Administrator I am not in a position to pay any amounts dueby the company in respect of contractual obligations entered prior tothe date of the Administration Order.Following my appointment customers have requested a response to twospecific questions namely: · Recovery of cash backs due from the company. · Contractual obligations with the network provider.As far as the cash back is concerned my current estimate is thatthere are over 30,000 customers who may be eligible to make cash backclaims. My current estimate of this liability is between �4-10million. The companies’ assets are less than �250,000. It followstherefore, that after the payment of the expenses of theadministration and the preferential creditors (wages and holiday payowed to the employees) it is unlikely that there will be fundsavailable for unsecured creditors.Turning to the second matter, I am unable to comment on acustomer’s contractual position with their network provider,customers must therefore, either speak to the network providerdirectly, take legal advice or contact their local Citizens AdviceBureau or Trading Standards Office. The network providers and/ortheir agents should not be referring you back to me.Please refer to the Joint Administrators’ website[url]www.phoneboxdirectinformation.com[/url] which will be posted with furtherupdates for the benefit of customers and creditors. This website hasbeen set-up to enable you to record your claim against the relevantcompany. Please do not write to my office to submit your claim aswritten communications will not be acknowledged.Yours faithfullyFor and on behalf of Mobile Affiliates Limited & Mobile Media Systems LimitedP M LyonJoint AdministratorAuthorised to act as an insolvency practitioner by the Department ofTrade and IndustryThe affairs, business and property of the Company are being managedby the Joint Administrators. The Joint Administrators act as agentsof the Company and without personal liability.--If you do not want to receive any further announcements, http://www.phoneboxdirectinformation.com/newsletter/?p=unsubscribe&uid=71623d39811984fabef9efbfff4d940eTo update your preferences and to unsubscribe visithttp://www.phoneboxdirectinformation.com/newsletter/?p=preferences&uid=71623d39811984fabef9efbfff4d940eForward a Message to Someonehttp://www.phoneboxdirectinformation.com/newsletter/?p=forward&uid=71623d39811984fabef9efbfff4d940e&mid=1--Powered by PHPlist, [url]www.phplist.com[/url] --



So if Pipex take over do they inherit the debts? I would be amazed if a company would take over coolnewmobile as the website was a shambles, they were very small and they are in 4-10 mil debt... Need I say more, starting a new company would be a much better idea even wit hthe costs and paperwork involved.

Pipex taking over Bulldog Broadband

God they where good along time ago!
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