hacker Young

3695 days ago

OEM - The Convicted Felon at the Boardroom Table & the LSE

Why are so many in the City so keen that the matter of OEM (OEM) the fully listed company that went tits up in 2009 be buried and hushed up? I have revealed in recent days how administrators at Baker Tilly are going after four directors for £6 million that disappeared and how this leaves accountants Hacker Young so red-faced. Now let’s turn to the London Stock Exchange. 

OEM as fully listed. Hence regulatory responsibility lies not with a Nomad as on AIM but with the UK Listing Authority, the LSE. 

In 2005 OEM appointed as its Company Secretary a Brendon McDuggan.

3695 days ago

OEM – The Noose Tightens – Whistleblower 2 on the Trombone

I recounted at the weekend how Baker Tilly, administrators to ex fully listed stock OEM (OEM) is seeking to claw back almost £6 million from four of its former directors. I have more information about a scandal which will embarrass many in the City but notably accountants Hacker Young – see HERE. 

I have been told that Baker Tilly sent out Letters Before Action to the directors 10 days ago. One director (the head honcho Robert Noonan) last Wednesday asked for an additional seven days to reply. The clock is still ticking and is now at T-11, that is to say by 28^th March all four must cough up or Baker Tilly will start the process of getting its hand on the cash. What price an estate just behind Nice Mr Noonan?

How much could shareholders get? 

3697 days ago

OEM – A £6 million Bombshell for Hacker Young, shareholders and the LSE about to drop?

OEM (OEM) was a fully listed company whose shares were suspended in 2008 after it emerged that the asset backing folks thought was there had er…gone missing. A couple of years later it was wound up. And certain individuals must have hoped it would end there. But it has not. A reliable source has told me that a £6 million bombshell is on the way which will embarrass a lot of well known City players.
 

The directors appointed accountants Hacker Young as administrators. Its initial report found nothing was amiss. The UK Listing Authority did nothing. The Old Bill did nothing. “Move along now plebs you have lost your money now piss off” was the official line.
 

But it appears that Hacker Young was removed as the administrator at some stage and we gather that the new administrators, Baker Tilly, will shortly send a letter announcing that they are going after four directors for £6 million