Liam Collins begins his letter to investors today by saying, "As many of you know, I am being made bankrupt on 16th January in Newcastle." Readers will be aware that the date he gives is long past; the actual date, a future one at the time of writing and as shown in our earlier post, is
15th MARCH 2012 at 11am
Liam Collins: Please confirm you understand date and time. (We have since heard that he has in fact taken this on board).
Our selected excerpt:
"Can I also say at this stage to Sally and Jasmine. I would like to apologise for the words I used in the press article to describe you both. I do not think those things of you I was simply very angry at the time. I think you have worked very hard to bring the transparency to the investors and we would not have had the time to do this without the pressure from you and other investors to answer a lot of import questions. At this stage we are spending our time defending against PR articles and spending taking PR advice to attempt to clear the names of other people who are being brought into this. I would like to ask you if at this stage you will simply help us to find a solution."
We assure Liam Collins that no offence is taken at any attempt to describe us, however inept. As to a solution, we have already offered the most obvious solution more than once, but we have it on good authority that CoBo et al have habitually turned a deaf ear to professional advice and sensible suggestions; it would therefore seem to be something of an exercise in futility to offer any new ones. However, since even exercises in futility may well prove to have certain health benefits, we gladly point out that nothing in the entire corpus of human knowledge and achievement can beat clarity for wholesome efficacy. Anyone can see that the business fantasies of the Group in question far over-reached themselves in complexity and in the auto-hypnosis of market optimism—during a recession. And none of the members of this Group actually wanted to do any real work! The Group should start to look forward to achieving, with the help of skilled personnel, complete clarity with regard to what they have been doing.
From evidence that keeps arriving on our desk, we see that the muddle in which this Group have got themselves and many, many others has been growing for years like some serious disease and it seems they were themselves frightened by the scale and complexity of their deception and wrong-doing. Drastic action is needed and will follow.