Comments can be sent to us at irnist23@gmail.com

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.

Thursday, 31 May 2012

DAVID BONE JR IS BANKRUPTED

David Bone Jr was made bankrupt today at the Wigan County Court. He did not appear, as you might have guessed.

The Official Receiver is appointing a trustee to manage CoBo's assets and sort out the tangle of their financial affairs. This promises to be a most difficult and protracted task and readers are advised to settle in patiently to await the eventual outcome.

We shall communicate on this blog any news that reaches us about the progress of the investigation and management decisions.
Posted by IFS at 20:44

3 comments:

  1. Anonymous6/01/2012 6:55 pm

    Hi Sally and Jasmine
    New activity on the Diggs deposits facebook page suggests Mr Bone is still operating some sort of lettings business. I suspect his trustee in bankruptcy will want to know about that.
    Sadly there are another couple of stories suggesting that after a short lull the deception of students and nurses is thriving once again.

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  2. Anonymous6/04/2012 8:41 pm

    Hello,
    I am a student whom has the pleasure (sarcasm) of renting a room from the celebrated COBO. Having had issues of my own, myself and my housemates are avid readers of the blog and are fully aware of Bone being issued bankruptcy. I was wondering how this will effect the houses Bone currently owns? Should I be expecting a nice man from the bank to appear on my doorstep with a locksmith and an eviction notice??! Furthermore, I am also in realisation that my deposit is not secured under the government scheme, and that it more likely has been used to purchase expensive shoes/a flight upgrade/ another guitar for Collins' new venture as a singer. And so I am debating taking the furniture as collateral, like a 'deposit for my deposit'. Thoughts and feelings welcome please....

    ReplyDelete
    Replies
    1. IFS6/05/2012 6:48 am

      Our information, Anonymous, is that the mortgage company and trustee who has just been appointed will honour all tenancy agreements. This means that tenants will have a responsible landlord, rather than rogues like CoBo. We don't have the details yet and the trustee has not received any documents for the case so far, but just as soon as fuller information comes in we'll publish it on this Blog.

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