JLTRT

[jjb1970]

Thanks for your support Craig.

 

I genuinely started this thread because I stand to lose a lot of money, and I have no experience as to what the processes

are in liquidating a Company.

 

I have asked for input because I would hate to think that I lost the money because I missed the opportunity for refund because 

I either didn't know something, or I wasn't told something I should have been told.

 

Anyway, I think I may have hijacked this thread, something I hate when others do it, so I will not make any more entries to it,

and I apologise to anybody who feels I have hijacked it.

 

Any more advice would be welcome, but by PM please.

 

Many thanks to all.

 

I don't think you've hijacked it at all, your comments have been measured and well considered and your questions entirely legitimate. I think your questions are more worthy of posting than an awful lot of other posts.

[brack]

The original point of this thread was to ask or confirm if jltrt were shutting down. I suspect that has been answered clearly enough. Given that we know theyre in liquidation, the only two possible questions about jltrt are 1) is the range being sold or made available elsewhere? And 2) what happens to people who've paid for things they haven't yet received?

The answer to 1) is of little consequence - if the kits go elsewhere they'll be announced and there's nothing you can do until then. Therefore question 2) is the only logical purpose for this thread, so I'd hardly say you'd hijacked it. It is likely you aren't the only one out of pocket, and there is action which ought to be taken sooner rather than later. I hope you and anyone else in the same boat get your cash back.

[Regularity]

It’s all very sad, really.

[muddys-blues]

Hi Keith & Bob, my recommendation to put something on the GOG is just another angle to find out how many people are in Keith's position, as once a list of people starts to be collated we get to see a picture of how many people are in Keith’s position, £400 plus is a serious amount of money to see disappear off into the etha.

 

We aren’t talking about an Airline or a Christmas Hamper going bust here, which is a pretty faceless company to deal with, we are talking about a small company who’s owner is well known through the hobby, PW is someone I am not criticising in anyway, but I am sure Peter is someone who feels for the working man, the people for whom any amount of money is lot only to possibly be left with nothing.

 

This is why I mentioned about going around this in a respectful manner, there is no need to use abusive vitriol in the list, just get people to state hard cold facts of what they are owed.

 

Best regards

Craig

Edited March 7, 2018 by muddys-blues

[chris p bacon]

We aren’t talking about an Airline or a Christmas Hamper going bust here, which is a pretty faceless company to deal with, we are talking about a small company who’s owner is well known through the hobby, PW is someone I am not criticising in anyway, but I am sure Peter is someone who feels for the working man, the people for whom any amount of money is lot only to possibly be left with nothing.

 

 

Correct me if I'm wrong,  but he wasn't the owner, so I don't see why he should be party to repaying any monies owed.

[Bob Reid]

Hi Keith & Bob, my recommendation to put something on the GOG is just another angle to find out how many people are in Keith's position, as once a list of people starts to be collated we get to see a picture of how many people are in Keith’s position, £400 plus is a serious amount of money to see disappear off into the etha.

 

We aren’t talking about an Airline or a Christmas Hamper going bust here, which is a pretty faceless company to deal with, we are talking about a small company who’s owner is well known through the hobby, PW is someone I am not criticising in anyway, but I am sure Peter is someone who feels for the working man, the people for whom any amount of money is lot only to possibly be left with nothing.

 

This is why I mentioned about going around this in a respectful manner, there is no need to use abusive vitriol in the list, just get people to state hard cold facts of what they are owed.

 

Best regards

Craig

Why is it necessary to find out how many people are in Keith's position and who, by name, exactly want's this information and for what purpose?  Whether we like it or not the only legitimate way to recover any personal debt, is to make an official claim.  Having started the insolvency process, it's now got to the stage where it's very much out of his hands and payment of the creditors has to follow due process in a strict order.  Trying to embarrass the guy into forking up isn't I'd suggest very helpful.

 

Of course £400 is a large sum for anyone to let go, but how do you imagine all the others who might be owed rather larger sums of money feel - I'm sure they'll be equally aggrieved.  Are you personally out of pocket?

 

 

 

[Crosland]

 1) is the range being sold or made available elsewhere? And 2) what happens to people who've paid for things they haven't yet received?

The answer to 1) is of little consequence -

 

Quite the opposite, the answer to (1) is crucial. An asset sale may allow those in (2) to be better compensated.

[admiles]

Correct me if I'm wrong,  but he wasn't the owner, so I don't see why he should be party to repaying any monies owed.

 

I believe PW was the sole director and shareholder. That would make him very much the owner.

[chris p bacon]

I believe PW was the sole director and shareholder. That would make him very much the owner.

 

I see now, I got confused and mis-remembered the post below.

.

Thank you Stephen. I had just seen this on the Gauge O Guild Forum and it puts an end to the speculation.

 

Note that this relates to Just Like the Real Thing Ltd with Pete Waterman as a director (Company number 04552733).

https://beta.companieshouse.gov.uk/company/04552733

 

There is a separate dormant company called JLTRT Ltd registered number SC404436 which has Laurence and Susan Lynch as directors. Pete Waterman resigned as a director of that company in March 2015.

https://beta.companieshouse.gov.uk/company/SC404436

 

It's interesting reading of the number of companies where Mr Waterman is (or has been) a director.

 

Sad times for all involved.

 

.

[arran]

HI All

 

Taken from Railnuts

 

 https://www.facebook.com/Railnuts-192967507490617/?hc_ref=ARRKbKYVnekkZq0fkwI8q3aToCLoY8-oRQTk5BV7goIOa9Pv5Xo8fPV-c1JonySvcYo&fref=nf

 

So it does indeed look like Pete was the only one , or its the way i read it anyway.

 

Regards Arran

 

As sole director and shareholder of Just like the real thing, last week I made the agonising decision to close down the company and appoint a receiver to liquidate it. I was no long prepared to fund its annual losses and could not see any way of making it profitable. 
My passion for model railways remains undimmed. I will concentrate on my Leamington Spa layout. In the coming months,I expect to announce new plans, so watch this space. I believe there is a small niche for a high quality designer and manufacture,and that will likely be my focus. The best models for discerning modellers and collectors.

[Hull Paragon]

Fingers firmly crossed for you!

 

While I'm lucky I had no outstanding orders my whole 7mm plan was built around their products.

 

I have a couple of 50's under construction (with a LLC one on order too) with now only a Mk2 BSO to go with them.

Planned to order a 33 and a FNA nuclear flask wagon for collection at Kettering, etc etc

Plus much more I wanted to order in the next couple of years.

 

Not sure what to do with my 7mm stuff now to be honest.

Admiles

 

Have you been able to source any LEDs for the red running lights on the front of the Class 50 cabs by any chance?....I can find 2mm lighthouse types but not the normal domed type.

 

Sorry if this is slightly off the thread........I was going to ring Laurie and ask him, but like everyone else, I'm not getting a response.

 

Thanks

 

Ray

Edited March 8, 2018 by Hull Paragon

[Grovenor]

IMHO, If you are going to close down a company in an orderly fashion and pay all the debts, then you have no need of a reciever. The reciever is there to avoid the owner needing to payout any more than the assets of the company (less the fees of the reciever). So the chances of getting a full refund are pretty slim.

Regards

[298]

Perhaps he ought to sell some of those nameplates that appear distractingly in the background in his layout shed? Some of the more famous replica names are going for over £50 on eBay, ten per loco kit ought to be sufficient.

[Wolf27]

Should be interesting when the PW roadshow rocks up at any model shows in the future. Wonder if he will have any minders in tow to avoid confrontations from disgruntled ex punters.

 

Cheers

 

Shane

[Horsetan]

Should be interesting when the PW roadshow rocks up at any model shows in the future. Wonder if he will have any minders in tow to avoid confrontations from disgruntled ex punters....

Maybe he could compare notes with Coopercraft.

[Bob Reid]

Is this topic sponsored by the Daily Mail? Why let facts get in the way of a good story.  There's been but one chap who I have every sympathy for in his plight whose admitted to having lost money here but no shortage of folk who just want to stick the boot in, not because they've lost money, but just because they can.  

[7821]

Maybe he could compare notes with Coopercraft.

im guessing Andy has offered his help as he did with coopercraft

[rob D2]

Is this topic sponsored by the Daily Mail? Why let facts get in the way of a good story.  There's been but one chap who I have every sympathy for in his plight whose admitted to having lost money here but no shortage of folk who just want to stick the boot in, not because they've lost money, but just because they can.

 

 

Not really. When a multi million potentially leaves customers £000s of pounds out of pocket, I'd think they'd be a little bit of " friction".

 

Or maybe they should say " thanks anyway, get yourself some more gold taps .... "

[Jol Wilkinson]

Not really. When a multi million potentially leaves customers £000s of pounds out of pocket, I'd think they'd be a little bit of " friction".

 

Or maybe they should say " thanks anyway, get yourself some more gold taps .... "

 

Rob,

 

what do you base the £000's on?

 

As we don't know how many people have unfulfilled orders and what value they had, you comment is rather inappropriate. Yes, they deserve to be refunded, but the way in which a company is managed when liquidated puts them towards the bottom of the list of creditors. Stirring things up with that sort of statement is more likely to cause them to lose any sympathy that PW may have felt as well, even though he is now legally outside the management of the business and can have little or no influence. Unless of course he personally refunds any outstanding orders, but you probably haven't helped that.

 

Jol

[admiles]

Admiles

 

Have you been able to source any LEDs for the red running lights on the front of the Class 50 cabs by any chance?....I can find 2mm lighthouse types but not the normal domed type.

 

Sorry if this is slightly off the thread........I was going to ring Laurie and ask him, but like everyone else, I'm not getting a response.

 

Thanks

 

Ray

 

Ray,

 

Haven't got that far down the road of building the kits yet.  I'd have vague thoughts of using optic fibre for the tail lights but that's as far as I've got.

 

Anthony

[Hull Paragon]

Ray,

 

Haven't got that far down the road of building the kits yet.  I'd have vague thoughts of using optic fibre for the tail lights but that's as far as I've got.

 

Anthony

Thanks Anthony

[rob D2]

I'm not " stirring things up ". People appear to be owed money , and the principal has put the company into liquidation rather than refund those that are owed it would appear .

 

And as you say , these creditors are at the bottom of the list and therefore unlikely to see any return .

 

I voice this opinion as someone who won €29000 damages against a company (never saw a penny ) whilst the administrators happily burnt through what was left to the tune of £333 an hour .

 

There's what's legal , then there's what's right

[Pandora]

Should be interesting when the PW roadshow rocks up at any model shows in the future. Wonder if he will have any minders in tow to avoid confrontations from disgruntled ex punters.

 

Cheers

 

Shane

A Warning "Kittens should not pick fights with Cats"

[truffy]

People appear to be owed money , and the principal has put the company into liquidation rather than refund those that are owed it would appear .

 

 

It's possible that customers are not the most concern to the director in terms of monies owed. So the winding up may be less to prevent refunding a few hundred pounds to xxx customers, but significantly larger sums to e.g. banks (who will be at the top of the pile when it comes to payback anyway).

 

But all of this discussion is unfortunate in that it appears under the JLTRT thread, whereas it appears that JLTRT and Just Like The Real Thing are different entities. The discussion could appear to reflect on a dormant company that is, AFAIK, blameless.

 

Perhaps this thread should be locked, and the relevant posts be moved to a new Just Like The Real Thing thread.

[mikeharvey22]

From the point of view of Credit Card reclaim ; there is a 30 day limit on claiming back payments.......... I'm well outside of that !!.

 

 

 

Regards

Keith

I was not aware of the 30 day limit on claims.............when Monarch Airlines went bust last year I phoned American Express, they took the details, and credited my account immediately. I had written confirmation of the transaction within 7 days.

 

https://www.which.co.uk/consumer-rights/regulation/section-75-of-the-consumer-credit-act

Edited March 9, 2018 by mikeharvey22