Norton trouble

MichaelB

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I think what needs to be established first and foremost is what BDO actually have under their thumb. From the fact our MD has yet to get an answer to our questions and concerns about our exclusive licence ...
Been seeing the MD bandied about, I've been confused. Over here MD means, Medical Doctor.
Looked it up, Managing Director.......
I guess somewhat equivalent to a President or CEO, Chief Executive Officer, over here.
 

ZFD

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Yes, the European companies are modest. No fancy titles often veiling lack of importance. We don't have a CFO, CPO, let alone a CEO and all the other Os even the smallest US companies seem to have a need for. "Managing Director" is an apt job description.
 

Eljahara

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https://lm.facebook.com/l.php?u=https://www.superbike.co.uk/article/norton-creditors-report-how-much-money-is-owed?fbclid=IwAR2hZ5HxZ5bghDOF9hwD2DwgHQwYI0oBlWIQT6jvq0PG2kVbGZ90JGn5wR4&h=AT34-gbdNobvWDEDDNFtMakgQyDxcBnabu6KQ8zyKQl2UtQrCTDSjVtlMY7cFT8sXW6u0iFELj3eku2YvDXDi79skt934P18KL3w6yurUYfGGQiXQObfEIzb-A_bOPO0i2otBNf-dFrUXYazTWbcyZCWHH3llI1JzJwUA9VKUE_yjdtxT8JTWbRhdjhDlnMH_7jKurgrfIT3ogZUeDqqX3v_7ui3TFHynWvMnmgA9xA6S5OI5DGiO0X6tu7zpd9Pncgstu06nbaMokG_1NHB8VUEDWSp_v0EttVxYEuGz1rcZ3QcSDHUUFVQF2RODhPC3W5SuP0s3ETj6ii_sK-sLz0H11IueatYalyMq0P9_DMejxNCZQH-llGY9DzhG2NLPNVsyhQlBRraQKG0vaFYGI5dvkbMzWhzNGqvjHbpMd82U9t1ZnviifIvoqLC5pXYiIOr62-XWN43U9gFcxgIMRdRFFinvb73Bt9CXnvlM0WPj3iAcuBaNWhCTBLEcUihFHavbhOZqSUmiHbLc7TmBdj40SsH5QvMiag3q0d_FwHIbnYMLL0Gp1Eyvqm7b16Y6Gi9xUKyeJKu4dsJRdRLeWZjo_Us23BAZ_ubInGiMnr-9z6-XupxixfavaBkJ8-o_sgjEhQrHFC2rcPkaCqKlluUtZmnQgBdslchyuC-K9GKHlmNWznG7A1NmJl_cLVSX08EMN5sSenJxUFKnrr4kz-KoAP8smnRRGT7dMPm250MXq-tK_lCHsYPTGsi4DK7ZUQLnIbeNAMfBeKJNqUVq0Vs8nJxPrKFduv68H_FOw_14BMiKhu22rU652RmMrHrAq2mmjHAYm7B6-7_3jF3NMkT_6LLq0DhgJ1R8LF6rkxSY5Z3StGnf7JnyI3HsG9HTe2sjj807BbYnAF66sjJorcXuTnBJGHn6krYkElRaeTxUbRbNLJvwGdTx1U_GIhmZ-MkWKdrhDWmsPR5daOVupPemEBYaUUS6XHa9m_81PkHU0Kmq9SpCgq0X0OpACi1sGZ-7qkPIpiWkTCKTEbKPOzyCWW74H3noqmWgjs690rgz7TUyq3Kw3CaMgbw1MDMEu6ghtLa5_mby7uzQP3CAO-uebYmbMoe8-EL6QAt_B1Wfrch6M2L2dqzGwSoMbmcpuv-ugSbqoETYYAWcRIoSayKOPrrMLIybdhkM2Z5b4yd72nXZyJUyjE-vZazLnNsi9Ntwmnekb70R5qRxSRhB9HK3MTMe0BFqqSaCH3Iv8xuba1UUyx3IOMsoMq0XItIVYGAw5nOuwTN_sR8Rt3UgpPnVO7Gl0NL864kq1CBr7CVjOTXa4BU0bTW2uJioJ2TS-5XwRgMWO-kJdl8iI4A1W4J0-DAd-OVfItOav6S_QAjnU9dZDiWUGPTpw5-UzhqjBUv8v-0sHkyq77izwyF_GEDv4DVqOd6N4wPws5F5SU8K5KQIfrUFwSXG_O8HL_20q-OfyHAkrGBkUNrFsjEwipSuy_a8GV14-zcobpvT1rve_IpSiFW8ozGsf7rHcysZHdXMyjQQnN6wTVIRqTZ925yCwILIK18hcs16ZYUKCw3y7XyR2nxXJ1xz7SQ6KlcUcP34w3NmePtj3uS7WxxzHtZqbQexv05pVHOdlncTANnk8yK42xq6sa76j8
And it looks like BDO will not have anything worth selling, Norton Marque, due to copyright and TM issues - especially with some of these being registered abroad!
What a piece of work this man is.
 
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https://lm.facebook.com/l.php?u=https://www.superbike.co.uk/article/norton-creditors-report-how-much-money-is-owed?fbclid=IwAR2hZ5HxZ5bghDOF9hwD2DwgHQwYI0oBlWIQT6jvq0PG2kVbGZ90JGn5wR4&h=AT34-gbdNobvWDEDDNFtMakgQyDxcBnabu6KQ8zyKQl2UtQrCTDSjVtlMY7cFT8sXW6u0iFELj3eku2YvDXDi79skt934P18KL3w6yurUYfGGQiXQObfEIzb-A_bOPO0i2otBNf-dFrUXYazTWbcyZCWHH3llI1JzJwUA9VKUE_yjdtxT8JTWbRhdjhDlnMH_7jKurgrfIT3ogZUeDqqX3v_7ui3TFHynWvMnmgA9xA6S5OI5DGiO0X6tu7zpd9Pncgstu06nbaMokG_1NHB8VUEDWSp_v0EttVxYEuGz1rcZ3QcSDHUUFVQF2RODhPC3W5SuP0s3ETj6ii_sK-sLz0H11IueatYalyMq0P9_DMejxNCZQH-llGY9DzhG2NLPNVsyhQlBRraQKG0vaFYGI5dvkbMzWhzNGqvjHbpMd82U9t1ZnviifIvoqLC5pXYiIOr62-XWN43U9gFcxgIMRdRFFinvb73Bt9CXnvlM0WPj3iAcuBaNWhCTBLEcUihFHavbhOZqSUmiHbLc7TmBdj40SsH5QvMiag3q0d_FwHIbnYMLL0Gp1Eyvqm7b16Y6Gi9xUKyeJKu4dsJRdRLeWZjo_Us23BAZ_ubInGiMnr-9z6-XupxixfavaBkJ8-o_sgjEhQrHFC2rcPkaCqKlluUtZmnQgBdslchyuC-K9GKHlmNWznG7A1NmJl_cLVSX08EMN5sSenJxUFKnrr4kz-KoAP8smnRRGT7dMPm250MXq-tK_lCHsYPTGsi4DK7ZUQLnIbeNAMfBeKJNqUVq0Vs8nJxPrKFduv68H_FOw_14BMiKhu22rU652RmMrHrAq2mmjHAYm7B6-7_3jF3NMkT_6LLq0DhgJ1R8LF6rkxSY5Z3StGnf7JnyI3HsG9HTe2sjj807BbYnAF66sjJorcXuTnBJGHn6krYkElRaeTxUbRbNLJvwGdTx1U_GIhmZ-MkWKdrhDWmsPR5daOVupPemEBYaUUS6XHa9m_81PkHU0Kmq9SpCgq0X0OpACi1sGZ-7qkPIpiWkTCKTEbKPOzyCWW74H3noqmWgjs690rgz7TUyq3Kw3CaMgbw1MDMEu6ghtLa5_mby7uzQP3CAO-uebYmbMoe8-EL6QAt_B1Wfrch6M2L2dqzGwSoMbmcpuv-ugSbqoETYYAWcRIoSayKOPrrMLIybdhkM2Z5b4yd72nXZyJUyjE-vZazLnNsi9Ntwmnekb70R5qRxSRhB9HK3MTMe0BFqqSaCH3Iv8xuba1UUyx3IOMsoMq0XItIVYGAw5nOuwTN_sR8Rt3UgpPnVO7Gl0NL864kq1CBr7CVjOTXa4BU0bTW2uJioJ2TS-5XwRgMWO-kJdl8iI4A1W4J0-DAd-OVfItOav6S_QAjnU9dZDiWUGPTpw5-UzhqjBUv8v-0sHkyq77izwyF_GEDv4DVqOd6N4wPws5F5SU8K5KQIfrUFwSXG_O8HL_20q-OfyHAkrGBkUNrFsjEwipSuy_a8GV14-zcobpvT1rve_IpSiFW8ozGsf7rHcysZHdXMyjQQnN6wTVIRqTZ925yCwILIK18hcs16ZYUKCw3y7XyR2nxXJ1xz7SQ6KlcUcP34w3NmePtj3uS7WxxzHtZqbQexv05pVHOdlncTANnk8yK42xq6sa76j8
Hu! I guess none of the pension fund that people unwittingly invested in this company will ever see a penny of, not to mention the parts suppliers who have not been paid.
Will SG ever be standing before a High Court thro his mismanagement and milking off funds to run a animal breeding estate In Africa?
 

Fast Eddie

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That is mind boggling.

£28m debt.

£28m taken from other people’s pockets.

To produce a few Motorbikes !

Mind boggling.
 
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There really aren't any words fit enough to describe how the company was run. I feel so sorry for everyone who has
suffered at the hands of Garner, and hope there is some proper redress.
 

ZFD

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Now you all know why I called it "The black hole in Donington" for many years and wondered why it was still going.

It never made sense from Day1 and I suspected investment fraud from very early on. Only those devoid of common sense and a little business experience, often further blinded by patriotism and/or the love of Norton, could see this chimera as a serious, honest attempt to rebuild Norton.
 
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So what are you bidding for.

Norton TM for UK

ROW including USA and EU is owned by US registered Norton America LLC

466 pissed off customer base plus the ones who are left with a collection of parts instead of a V4

£3,375,167 (3.3 million) has been listed as the amount of money paid to Norton by customers in the form of deposits for motorcycles. This amount comes in the form of monies paid to Norton by 466 customers.

You can build the V4, well maybe but possibly (do Norton America hold the IP ?)

You may think you have the rights to build the 961 but that's been sold to a Chinese company and the supply base has been sent letters telling that so no more of these.

650 twin well that's got issues too, its commercial existence was linked to a deal which Norton had made to supply Zongshen with a lower-performance 650cc twin-cylinder engine design for volume manufacture on its production lines in China. Now did Norton UK sign this deal or Norton America LLC.

So where does £28M go and what's left to show for it.
 

ZFD

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I suspect that a good part of the 28M are in an offshore bank account.... which was the idea from Day1.
 
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It is a criminal offence for not summittIng confirmation of a company's account, also Company's House can fine you and strike you off as a director at the same time. I just don't see how SG is going to worm his way out of this one. . . .
 

Eljahara

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It is a criminal offence for not summittIng confirmation of a company's account, also Company's House can fine you and strike you off as a director at the same time. I just don't see how SG is going to worm his way out of this one. . . .
Bernhard
It’s been done many times - including by Trump. The company is bankrupted/liquidated and you are barred from being a director of companies for a period of xx years. You then open a similar company in your partners name in the same or similar business with you as an allowed employee (you are allowed to earn a living!) After your ban expires you transfer the company using a new name and become a director
Simples
 
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Bernhard
It’s been done many times - including by Trump. The company is bankrupted/liquidated and you are barred from being a director of companies for a period of xx years. You then open a similar company in your partners name in the same or similar business with you as an allowed employee (you are allowed to earn a living!) After your ban expires you transfer the company using a new name and become a director
Simples
Yep, that part was done 2 weeks ago, see company house. Now in wife's name.
 
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So what are you bidding for.

Norton TM for UK

ROW including USA and EU is owned by US registered Norton America LLC

466 pissed off customer base plus the ones who are left with a collection of parts instead of a V4

£3,375,167 (3.3 million) has been listed as the amount of money paid to Norton by customers in the form of deposits for motorcycles. This amount comes in the form of monies paid to Norton by 466 customers.

You can build the V4, well maybe but possibly (do Norton America hold the IP ?)

You may think you have the rights to build the 961 but that's been sold to a Chinese company and the supply base has been sent letters telling that so no more of these.

650 twin well that's got issues too, its commercial existence was linked to a deal which Norton had made to supply Zongshen with a lower-performance 650cc twin-cylinder engine design for volume manufacture on its production lines in China. Now did Norton UK sign this deal or Norton America LLC.

So where does £28M go and what's left to show for it.
Unless the IP for the V4 and 961 has been officially transferred and recorded, then it resides with Norton motorcycles UK Ltd.
If you make V4's, where would you sell them. SG still owns the rights and you need permissions from him to sell outside the UK.
So what if the Chinese own the 961 rights, as above, they'll need to liase with SG to supply the world.
All avenues lead to one person. Court case or not, seems he will get richer without any effort with distribution and licence agreements, something that he should have done in 2008, instead of making a right financial mess he now leaves behind.
 

BLIGHTYBRIT/SF

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If we think back to the verified registrations of Nortons in the UK from the Spondon interview, we can remind ourselves that in 12 years of trading only 802 bikes have been registered in the UK.

So is this 802 bikes ever built that are all over the world or 802 bikes registered to of been built but not necessarily on the road in the UK , as DVLA records don’t show 802 ? I know Norton figures to be all slight of hand & I’m trying not to be to underwhelmed atm ?
 
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