Page 445 - The Case Lab Book

I find it incomprehensible that Wrekin “I manage a company which was owed many
Construction is being allowed to cease thousands of pounds by Wrekin construction
trading with a full order book valued at we were promised payment each and every
£50M because of the absurdity of the Royal month for eight months and were lied to on
Bank of Scotland (RBS) decision not to many occasions by Wrekin management .
extend £2M of credit that would not only We only received the money upon serving a
secure the jobs at Wrekin Construction but winding up order on wrekin. It is quite clear
also many more jobs in both the supply to me that this is not the fault of RBS but the
chain and local community. fault of the wrekin construction management
If we equate the £2M request to the fact that I don’t blame RBS for not lending these
this represents approximately 2.5 years of people anymore.”
the former RBS Chairman’s pension, then Comment by Bob — 13 Mar 2009 on 2:46 pm
this only serves to highlight the lunacy of the http//downingstreeysays.com/briefings/6332#commen
decision. ts-10716
Comment by Leigh — 11 Mar 2009 on 2:46 pm
http//downingstreeysays.com/briefings/6332#commen
ts-10685

Staff & Suppliers

A B C

“They have never paid on “They stripped the company “To stand in the window and
time, they lie and backtrack bear of all its assets and cash watch low loader after
and never follow the sub- and then dropped Wrekin lowloader disappear down
contract. They never did get a from their holding company lamledge lane loaded with my
cash injection, just a gem Tamar, also removing severance pay holiday pay
stone injection. “ themselves as directors and redundancy payment
Comment by Paul — 16 Mar 2009 shortly before the big bang.” showed me where mr unwins
on 2:46 pm Comment by Ian — 17 Mar 2009 loyalty’s lay to his bank
http//downingstreeysays.com/briefi on 2:46 pm
ngs/6332#comments-10738 http//downingstreeysays.com/briefi balance.”
ngs/6332#comments-10744 Comment by ex wrekin employee
— 20 Mar 2009 on 9:27 pm
http//downingstreeysays.com/briefi
ngs/6332#comments-10751

Mr Nickolas Ibbotson, Wrekin’s finance Director and Wrekin’s managing director,
Peter Greenwood approved Wrekin’s accounts to 31 December 2007, which

included the gem as an asset worth £11 million, without checking the reliability or
authenticity of the Italian valuation report. Furthermore, Ibbotson, aware of the