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Just when you really thought it was safe

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Community Veteran
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Registered: ‎02-08-2007

Re: Just when you really thought it was safe

Some new houses are being built that include solar panels, under those circumstances you are likely to save money, it's the people who have signed up to expensive loans that are going to get stung.

These panels are claimed to be self cleaning and that might be true for the first few years but the more dirty they get the less effective they are. Some window cleaners refuse to clean them as this could affect the warranty.

 

Minivanman
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Re: Just when you really thought it was safe

Wasn't there something also about transferring the obligation with regards to feeding power into the grid to the new owners when the house was sold, and like so much else, I don't suppose the guarantees are transferable either, neither can the new owners 'own' or remove them?

Solar sold? Not for me even... for free.

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Re: Just when you really thought it was safe

A bit like the cables stringing from one house to another.

I removed mine a few years ago as the cable companies they supposedly belonged to had long since gone out of business.

Luzern
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Re: Just when you really thought it was safe


@gleneagles wrote:

@7up 

I saw that in the news and thought I must have misread it.........I would have thought anyone who was the director of a company that went bankrupt would not be allowed to set up any other business or even provide paid advice for a number of years.

I have always stuck to the policy of anything new......let others buy it first.....if it turns out to be a bargain with no long term problems and you want it fine, if not then you are not stuck and likely end up losing money.

It comes down to that often repeated saying, 'If it sounds too good to be true.......


@gleneagles Firstly a company does not a such go bankrupt; it becomes insolvent. Secondly a director is an employee of a company even though he golds all the shares. Liabilities are to the extent so:

 While a shareholder can participate wholly in the growth of a company, his or her liability is restricted to the amount of the investment in the company, even if it subsequently becomes insolvent and has remaining debt obligations

A director can, however, be barred from directorships or a shadow for being unfit:

Unfit conduct’ includes:

allowing a company to continue trading when it can’t pay its debts
not keeping proper company accounting records
not sending accounts and returns to Companies House
not paying tax owed by the company
using company money or assets for personal benefit

In the case of insolvency he can be in trouble for:

Overdrawn director’s loan accounts
Signing a personal guarantee
Debts have accumulated due to fraudulent means (such as taking on credit you knew you wouldn’t be able to repay)
Director misconduct
Continuing to pay shareholders dividends whilst the company is insolvent
Withdrawing and/or using company funds for non-business activity; this is an offence known as misfeasance
Disposing of the company's assets at undervalue or no value

These days, despite anything that be done legally against him/her, a scot free escape will be unlikely, as property and personal assets will very often be caught up by personal guarantees and mortgages to lenders.

That of course is no comfort to other shareholders snd unsecured debtors. ;(

No one has to agree with my opinion, but in the time I have left a miracle would be nice.
Minivanman
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Re: Just when you really thought it was safe

@billnotben 

Rather odd that companies can walk away from such things without being either liable or responsible for what the once owned. But there again they are not the first and they'll certainly not be the last.

Lots of homes in south Wales had cable televison back in the 60s and 70s because of the lack of transmitters and even now it's surprising just how many houses still have what were rather thick cables strung across them. Bit of an eyesore but as my Mrs would say, if they are not eating or drinking... 

Nuclear power anyone?  

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Re: Just when you really thought it was safe


@billnotben wrote:

A bit like the cables stringing from one house to another.

I removed mine a few years ago as the cable companies they supposedly belonged to had long since gone out of business.


 

Sounds like the old Rediffusion system, where the cabling was run between houses in parallel to a switch box on your wall indoors behind a modified television set, and the switch chose the channels which were broadcast over twisted pair copper wire... Smiley

 

http://www.rediffusion.info/

 

The nature of being wired in parallel like this though meant that some customers who decided they no longer wanted the service just pulled the box off the wall, chopped the wires and stuffed the bundle into the wall, meanwhile everyone downstream of them just lost service because of it... :grin:

 

In some areas though, those cables, despite being seemingly long abandoned, are still "live", doing what I don't know, but they are "owned" or at least electrified by someone, just not proactively dealt with when left on houses to rot... :huh: