Page 448 - The Case Lab Book

months later Wrekin would buy the same was one that was uncovered by some of the
JCB back from Equatrek at full market value, guys below Director level a couple of weeks
say £25,000. A nice way to take £25,000 out before they went under - and yes it has been
of the company and into the owners pocket.” bought to the attention of the Administrators.
“

Source: http://www.housepricecrash.co.uk/forum/ ... pic=126780

Unwin, signed a 10 year disqualification undertaking, while Ibbotson signed a
seven-year disqualification. Greenwood, was earlier also banned for nine years.

These bans on acting as company directors would be effective from November
2013. The undertakings prevent the men from being involved directly or indirectly
in the promotion, formation or management of a company for the duration of their

bans.

It was revealed by the BBC’s Inside Out West Midlands programme that Unwin

had received a 12-month suspended sentence in 2002 after selling £1.2m worth of
construction plant that was not his. The programme also uncovered the fact that 30
other firms run by Unwin had gone into administration or liquidation.

In June 2009 the Tamar Group itself went into administration.

The Gem

After Ernst & Young found that Wrekin’s “ruby” could in fact be a lump of rock

possibly worth £100 it decided to auction it to Wrekin’s creditors.

The Tanzanian Gem was found to be worth so little that leading London auction

houses refused to put it up for sale, and instead the administrators Ernst & Young
tried to sell the stone through the November issue of RocknGem Magazine and
Colored Stone Magazine in the US - publications read largely by mineral

collectors and lovers of New Age crystals.