View more on these topics

Present the evidence on Group 300

An open letter to former directors of Network 300 and Group 300 from ex-members of Network 300.

The ex-members of Network 300 have read and absorbed the comments of Christopher Batten in the media about the demise of Network 300 over the past few months.

Let us not forget that clients and members of the public trust and rely on the advice from the independent financial advisers unwittingly caught up in the collapse of Network 300.Let everyone also not forget the financial and emotional hardship that this has laid at the doorsteps of many individuals and families-For months, we have been informing you, Peter Garlick and Lucy Batten that we were intending to appoint a different liquidator.

On six occasions, we offered you all the opportunity to address members.

All along, every olive branch, every offer and the intention to appoint a different liquidator were treated with contempt and were ignored.

As creditors, the ex-members are now no longer in a position, nor do they have the desire to meet with you or other ex-directors. The matter is now in the hands of the appointed liquidator. A meeting with the ex-network members will serve no purpose.

If there is any evidence to support the claims attributed to Mr Batten, then the exmembers of Network 300 ask for this to be presented to the liquidator.

All the ex-network members now require is that all documentation in the hands of the former directors of Network 300 is presented to the liquidator in an open manner, that there is nothing presented to him that cannot be substantiated by hard evidence and that all comments made to the liquidator can be proven.

Recommended

L&G pass 100bn corporate pensions milestone

Legal & Generals corporate pensions division has announced that its funds under management has passed the 100bn milestone.The results are part of record business figures of 15.2 billion from UKand European clients as Corporate Pensions funds rose to over 103bn.L&G group director, investments Tim Breedon says: “The new managing director of our corporate pensions business […]

NU pension sales drop 10% after commission cut

Norwich Union has seen pension business fall by 10 per cent since cutting commission last September. The fall put a dmaper on generally positive results for the firm, which last year saw life and pension sales increase by 9 per cent to £2.55bn from £2.37bn in 2003 on an annual-premium equivalent basis. For the first […]

The whole truth

Jason King’s recent letter exemplifies the same arguments that were put forward in the 1970s, by the “buy a term and invest the rest” brigade who used bland figures to substantiate equally bland arguments. Term insurance was the foundation of all insurance but the foundation of life insurance and the concept of whole-life insurance acknowledged […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment