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INTRODUCTION
This Blog is dedicated to making public some of the business activities and methods of Liam Collins, David Bone Jr and their associates. In the spring of 2010, the present authors invested in Collins & Bone (C&B), who were offering an enticing 8-10% interest on the basis of buying houses for cash, renovating them and letting them out to students. We were assured that our money was secured against houses that they owned, including their own homes and the properties held by their associated company, Castle & Gatehouse (C&G). We have emails and brochures that confirm these details, as do others who invested on this same basis at around the same time. The idea worked for us for over a year, then in November 2011 they told us they were insolvent. They refused our every request for clear accounts, which led us to suspect wrongdoing. We began an investigation and then started this Blog. We found our suspicions confirmed: other investors had lost sometimes quite large amounts to C&B and its predecessor CBS, and all requests for repayment were adamantly refused. These people use and have used so many names that we found it necessary to compress them into CoBo (for Collins & Bone) and Coboco (for the whole bunch of them – there are quite a few!) Note that there is an index in the margin at the right hand side.

Sunday 1 June 2014

HOW DAVID BONE JR IS BENIFITING FROM EX-COLLINS & BONE HOUSES

As reported in our post of 18th May, David Bone Jr is still getting an income or benefit from three former Collins & Bone properties, as illustrated below:


Abbeycroft Gardens
(always described by estate agents as 
an exclusive gated development)


Carnarvon Road


A Flat in Beckford Court

So why have these properties not been repossessed, sold and the proceeds distributed among CoBo's many creditors? Well, it's a fact that the houses have, up to now, been in negative equity; it has always been CoBo's strategy to pay out as little as possible to the mortgage companies, in such a way that the houses have always hovered on the brink of repossession or LPA receivership. CoBo regarded any money, including income from renting such houses, as unquestionably theirs to spend without regard to contracts or commitments.

It is absolutely plain that David Bone Jr and his family should not be benefiting in any way from these properties. Any income from them should be used to reimburse creditors.
Posted by IFS at 11:04

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