Ettyl

[gossip1]

Yes - Furbate ltd was the company that they were both directors - Rumi Sethna resigned from the company that then made the company bankrupt - Scales was still a director. so I would think Scales will be barred from being a company director.

The Hubb (Scales ) is no more, they do not operate any longer

 

https://services.gov.im/ded/services/companiesregistry/viewcompany.iom?Id=9tpLFJR8Tao%2fOdgBMTya0Q%3d%3d

 

it is liquidation

 

You can see all the court cases against Scales company if you purchase the docs.

 

 

[NoTailT]

9 minutes ago, gossip1 said:

Yes - Furbate ltd was the company that they were both directors - Rumi Sethna resigned from the company that then made the company bankrupt - Scales was still a director. so I would think Scales will be barred from being a company director.

The Hubb (Scales ) is no more, they do not operate any longer

 

https://services.gov.im/ded/services/companiesregistry/viewcompany.iom?Id=9tpLFJR8Tao%2fOdgBMTya0Q%3d%3d

 

it is liquidation

 

You can see all the court cases against Scales company if you purchase the docs.

 

 

I see, so they didn’t make him personally bankrupt? I took from your last post that he hadn’t paid rent at Sheridan Apartments too and was made bankrupt because of it, sorry for misunderstanding. I would imagine any diligent estate agent or whatever would have undertaken references before giving anyone a lease, unless it was done in a friendly way given Scales’ then links to MannBenham. Also worth pointing out that our own @Amadeus now works for that firm.

From what I can see at registry, Rumi Sethna was still a shareholder at time of liquidation and I don’t know for fact, but I think he also the owner of the Queen Victoria House building? It didn’t seem to go in to liquidation for 9 months after his resignation?

Bit out of my knowledge all this, so just trying to piece it together. I don’t think it’s unfair to say your view of Scales has been negative since your first post starting this thread, I’m trying to take a balanced view. He is of course, innocent until proven guilty as is anyone.

Edited April 23, 2023 by NoTailT

[cissolt]

Is furbate something to do with people dressing as animals?

This was posted earlier in the threa, on the hook for 238,000.  120k to DfE 

[NoTailT]

2 minutes ago, cissolt said:

Is furbate something to do with people dressing as animals?

This was posted earlier in the threa, on the hook for 238,000.  120k to DfE 

https://www.urbandictionary.com/define.php?term=furbate

I'm trying not to laugh.

I can't remember if we covered it but how does someone owe £128k to DFE?

Edited April 23, 2023 by NoTailT

[NoTailT]

According to a pal with an office there, Mr Setha 'phoenixed' a new operation using all the original hubb fitout - https://qvhpremierofficespace.com/

[Albert Tatlock]

I'm locking this thread for now...some of the comments are potentially moving into areas of sub judice.

[Albert Tatlock]

Unlocked again. Please keep within the forum T&Cs, if you don't already.

[gossip1]

On 4/23/2023 at 7:19 PM, NoTailT said:

According to a pal with an office there, Mr Setha 'phoenixed' a new operation using all the original hubb fitout - https://qvhpremierofficespace.com/

Rumi Sethna  already owed the operation - he just changed the name to qvhpremierofficespace as Scales 'took' the name The Hubb with him when he was thrown out/ made bankrupt.

 

Scales then thought he would try to open an operation @ Clinches - but pending his case, that never happened and the owner of Clinches  - Raj (Oddbins) is doing himself under the name Bubble limited.

 

Raj has cropped up before... will be interesting to see if his name comes up in the trial in November.

 

[NoTailT]

24 minutes ago, gossip1 said:

Rumi Sethna  already owed the operation - he just changed the name to qvhpremierofficespace as Scales 'took' the name The Hubb with him when he was thrown out/ made bankrupt.

 

Scales then thought he would try to open an operation @ Clinches - but pending his case, that never happened and the owner of Clinches  - Raj (Oddbins) is doing himself under the name Bubble limited.

 

Raj has cropped up before... will be interesting to see if his name comes up in the trial in November.

 

According to registry, at time of liquidation, Furbate was owned 50/50 by Mr Sethna and Scales.

So did a shareholder make his own company go into liquidation and then raise an operation from the ashes? I'm confused?

Are you saying Scales personally was made bankrupt? If so, would explain being turfed out of his Ballasalla property.

Edit I saw the hubb logo driving along the Quay today. Is Scales involved there too?

Edited April 24, 2023 by NoTailT

[offshoremanxman]

23 minutes ago, gossip1 said:

Scales then thought he would try to open an operation @ Clinches - but pending his case, that never happened and the owner of Clinches  - Raj (Oddbins) is doing himself under the name Bubble limited.

Normally these operations separate the freehold from the management company so likely the freehold interests are unaffected for whoever actually owns the property. The management co then has a lease with the freeholder and an agreement to manage the building and collect rents. If that folds you just set up a new management company and rescind the old lease and management agreement for non payment. So if it was 50% it would simply have been 50% of the company that operates the lease. 

[NoTailT]

3 minutes ago, offshoremanxman said:

Normally these operations separate the freehold from the management company so likely the freehold interests are unaffected for whoever actually owns the property. The management co then has a lease with the freeholder and an agreement to manage the building and collect rents. If that folds you just set up a new management company and rescind the old lease and management agreement for non payment. So if it was 50% it would simply have been 50% of the company that operates the lease. 

It's not my forte but from what I can see here: Rumi Setha owns Queen Victoria House. Scales and Sethna collectively and jointly owned Furbate, which received large sums of cash from the starship enterprise, that entity was forced in to liquidation. The petitioner was Carrick Investments Limited (owned by Sethna and owns qvh). A new operation now operates the serviced offices (Sethna alone).

And - maybe - unconfirmed by gossip Scales was made bankrupt!?

[offshoremanxman]

18 minutes ago, NoTailT said:

It's not my forte but from what I can see here: Rumi Setha owns Queen Victoria House. Scales and Sethna collectively and jointly owned Furbate, which received large sums of cash from the starship enterprise, that entity was forced in to liquidation. The petitioner was Carrick Investments Limited (owned by Sethna and owns qvh). A new operation now operates the serviced offices (Sethna alone).

And - maybe - unconfirmed by gossip Scales was made bankrupt!?

But Furbate Limited was likely the management company not the holder of the freehold? Most shared space facilities operate this way. No different to the stock market scam that is We Work that was once the “fastest-growing lessee of new office space in New York”

https://en.wikipedia.org/wiki/WeWork

https://www.propertyweek.com/feedback/why-weworks-strategy-is-a-risky-one/5119911.article

Hardly any sort of freehold involved. It’s normally just re-sellling leased space so if the management company goes tits up it doesn’t affect any freehold interests. 

Edited April 24, 2023 by offshoremanxman

[NoTailT]

14 minutes ago, offshoremanxman said:

But Furbate Limited was likely the management company not the holder of the freehold? Most shared space facilities operate this way. No different to the stock market scam that is We Work that was once the “fastest-growing lessee of new office space in New York”

https://en.wikipedia.org/wiki/WeWork

https://www.propertyweek.com/feedback/why-weworks-strategy-is-a-risky-one/5119911.article

Hardly any sort of freehold involved. It’s normally just re-sellling leased space so if the management company goes tits up it doesn’t affect any freehold interests. 

I see!! Thank you.

[offshoremanxman]

2 minutes ago, NoTailT said:

I see!! Thank you.

It’s an assumption, but most of them work that way. But if you're going to take a £120K loan best do it in a company that has no assets other than a lease and some furniture that you can fold in a couple of days if it doesn’t work out. 

[NoTailT]

1 hour ago, gossip1 said:

Rumi Sethna  already owed the operation - he just changed the name to qvhpremierofficespace as Scales 'took' the name The Hubb with him when he was thrown out/ made bankrupt.

 

Scales then thought he would try to open an operation @ Clinches - but pending his case, that never happened and the owner of Clinches  - Raj (Oddbins) is doing himself under the name Bubble limited.

 

Raj has cropped up before... will be interesting to see if his name comes up in the trial in November.

 

Bit of googling whilst Mrs NoTailT plays Sudoku on her ipad.

https://find-and-update.company-information.service.gov.uk/company/14271831/officers

I found this to be the only link between Chatha and Scales, other than the hubb logo being on Clinches.

Nature of business (SIC)

68320 - Management of real estate on a fee or contract basis

82110 - Combined office administrative service activities

Makes sense as nature of business given what @offshoremanxman has educated tonight.

I see Bubble Limited was formerly known as Sofco 1 Limited according to registry. Not paying any more fees for docs but, seems there's a link.

Edit: Just read the companies house doc on that uk company, shareholder Sofco holdings limited in the IOM. Now known as Bubble Holdings Limited. Maybe no coincidence 'Bubble' has two b's like hubb?

Edited April 24, 2023 by NoTailT