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JLTRT Receivership

pylonman

Entry posted by pylonman

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I've no intention of starting a topic which becomes a slanging match, so please resist the temptation to convert this blog into

one.

 

I believe it would be appropriate to let others know how they'll be treated, under British Law, when a supplier they are dealing with

ceases trading.

 

Some people will already know what happens, so this short blog is for those who don't know.

 

The following information is factual :

June 2017 ; I placed a pre-paid order for a JLTRT Class 47 model paying the sum of £455.00.

 

I was advised that the 47/8 version would not be available until early 2018.

 

It was early 2018 when I became aware, through posts on this forum, that there was a problem concerning JLTRT.

 

At no time, did anybody have the decency to contact me, as a customer, to advise me the status of JLTRT.

 

I eventually found out the identity of The Receivers.

 

I have just received a letter from The Receivers, mostly asking me to approve their expenses of circa £8000, whilst

a small section was devoted to remuneration of creditors.

 

Secured creditors are to re-imbursed at a rate of  100p in the pound. (Opinion : these are people who shouldn't be

upset if continuing in the hobby)

 

Unsecured creditors are to be re-imbursed at a rate of 0.001p in the pound  (Opinion : that is the rest of us)

 

This means that, through no fault of mine, JLTRT have reduced my £455.00 to 0.455p .

 

The thing that is really bugging me is that there is nothing under Brtitish Law, that I can do about it.

 

I started proceedings through the Money Reclaim Service, against Waterman directly, but I withdrew as I was advised, 

by people I trust, that I was unlikely to win the case, and I could face substantial expenses.

 

Unfortunately in this Country, directors of defunct companys' cannot be held responsible for the company's debts.

 

Many people will be aware that there are a list of models, advertised as " Ex- JLTRT"  or "From the JLTRT range" ,

being advertised by MM1 Models.

These appear to be the same as the JLTRT models, but are now listed with an RRP of circa £699 !!!

 

All of this has left me with a very bitter taste, and has taught me a very valuable lesson : don't pre-pay for anything that

is in a pre-production stage.

 

Regards

Keith

 

 

 

 

 

 

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pylonman
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Hi.

 

This will probably be my last comment on this subject, as I have suffered enough high blood pressure

when I've thought about it.

 

As if by magic, this is what Waterman and his company have done to my £455.00 ; yes you did read correctly,

attached is a scan of the cheque I've received of the Receivers of Just Like The Real Thing, for the princely sum of £0.47.

 

So much for the empathy that Waterman says he has for all things railway !!

 

Don't think I need to say any more................ So I won't.

 

 

 

Edited by pylonman
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