The toothbrushes were made in China and supplied to Aldi, with payments from the retailer due to go into an account controlled by Synergy, so that the finance company could be paid back.
But Aldi were provided with the wrong bank details and payments for more than €500,000 went into another business account controlled by Mrs Perhar instead. Mrs Perhar then went on to pay out around €329,644 from the account to meet other “urgent” debts, the court heard.
Subsequently, on 5 June last year, she received a demand for repayment of the loan, plus interest, on the basis that she had breached the terms of her company’s borrowing agreement.
Just three hours later, Mr Slinger, acting as a secured creditor, put The Sustainable Bathroom Company into administration.
Mrs Perhar is now suing, claiming that Synergy had “approved” her making the payments, rather than transferring the money to her lender.
She told Mr Justice Michael Green that she believes Synergy had no legal right to put her company into administration and that Mr Slinger appointed administrators for “vindictive” and “improper” reasons – allegations which his barrister James Morgan KC told the judge are “hotly contested.”
This is the bit that stnads out for me. “to meet other “urgent” debts” Oh Aye?
Lenders are going to agree to allow the cash they’ve a claim to to move off to where they’ve not got a claim on it?
Lenders are going to agree to allow the cash they’ve a claim to to move off to where they’ve not got a claim on it?
But shirley if you give me some money and instead of building a house, I spend it on coke n’ hookers, as long as I complete the payments, what does it mattet ?
The article says Synergy was providing a 3 year, £350k facility in exchange for 30% of the profits. That sounds a bit dodgy. Is this usual for the export finance they seem to be providing? It’s the Telegraph so not enough detail naturally…
Not only is it inconceivable, it’s incomprehensible.