Historic Rotherham building wrapped up in legal claim

http://www.rothbiz.co.uk/2018/02/news-5935-historic-rotherham-building.html

UK Insolvency Service

Company Directors Disqualification Case

Name: Adrianne mei Kwan NYAU

Name: ABSOLUTE LIVING DEVELOPMENTS LIMITED

Date of Birth: (((REDACTED)))

Date Order Starts: 14 / 12 / 2017

Disqualification Length: 9 Years 0 Month(s)

CRO Number: 8766275

Last Known Address: (((REDACTED))), Woodchurch, CH49 8EG

Conduct: NYAU caused or allowed ALD to provide misleading and/or incomplete information in respect of property developments. As such, investors were unable to carry out their own due diligence properly. NYAU also caused or allowed ALD to exercise inadequate control over property developments. ALD had no ability to ensure the terms of contracts entered into with investors could be met and failed to provide adequate safeguards in respect of money obtained from investors. During the period that NYAU was a director payments totalling £8,870,415 have been obtained from investors in respect of 267 units that have not been completed. The investors have not received restitution and they are creditors in the liquidation 

This information is correct as at 28 / 11 / 2017

Name: Chi Yuen Leong

Name: ABSOLUTE LIVING DEVELOPMENTS LIMITED

Date of Birth: (((REDACTED)))

Date Order Starts: 30 / 11 / 2017

Disqualification Length: 9 Years 0 Month(s)

CRO Number: 8766275

Last Known Address: (((REDACTED))) tanduk, bangsar, 59000 kl

Conduct: LEONG caused or allowed ALD to provide misleading and/or incomplete information in respect of property developments. As such, investors were unable to carry out their own due diligence properly. LEONG also caused or allowed ALD to exercise inadequate control over property developments. ALD had no ability to ensure the terms of contracts entered into with investors could be met and failed to provide adequate safeguards in respect of money obtained from investors. During the period that LEONG was a director payments totalling £1,712,293 have been obtained from investors in respect of 46 units that have not been completed. The investors have not received restitution and they are creditors in the liquidation In addition LEONG caused or allowed ALD to request payments totalling at least £256,751 from at least 30 investors which were payable when the development was complete, when in fact the development was not complete. The investors are creditors in the liquidation 

This information is correct as at 4 / 12 / 2017

On Monday 29th January 2018, following a private prosecution, Andrew John Camilleri was unanimously convicted by a jury at Manchester Crown Court of making false representations in an Individual Voluntary Arrangement ("IVA”) proposal contrary to section 262A of the Insolvency Act 1986. The prosecution was brought by one of Camilleri’s many creditors Summary of Case An Individual Voluntary Arrangement (IVA) is an alternative to bankruptcy and a formal process requiring the debtor to tell the truth to his/her creditors. It was the prosecution case that, between 18th February and 17th March 2011, Andrew Camilleri made a series of false representations in his IVA proposal, which he later presented to his creditors for approval. If the IVA Proposal had been approved by his creditors, it would have wiped out all of Camilleri’s debts (in excess of £9 million) and given him a clean slate whilst leaving his creditors with a pittance. In 2007/08, Mr Camilleri persuaded various creditors to part with their money to finance his developing property empire.

He asked for bridging loans on a short-term basis, (for a matter of weeks), and offered his creditors security against the properties he was buying. Instead of repaying the money and interest under the bridging loans, Camilleri convinced his creditor to instead release further funds, and roll up their interest they were due, for Camilleri to buy more properties. One witness described how Camilleri would "say, literally, whatever he has to say in order to persuade anyone to part with their money and produce questionable documentation/substantiation to achieve this objective.” Camilleri put new deals to his creditor on a constant basis, until one day, he was to tell them that, in fact, there was no security against the properties for their loans, which had all been mortgaged up to the hilt in debt. Camilleri’s creditors then pursued bankruptcy proceedings, but in order to stave off the threat of bankruptcy, on 18th February 2011 Mr Camilleri prepared an IVA proposal, pretending to set out his total assets and debts, and presented it to his creditors for their approval on the 17th March 2011.

Camilleri stated in his IVA proposal that he had no assets of any value for the benefit of his creditors, but that his cousin would lend him £100,000 that could be used to pay towards his debts. Mr Camilleri stated that his total unsecured creditors were owed c.£5.7 million, and so they would get 1.29 pence in the pound. In practice, accepting this offer would mean that one of his creditors would get £29,025 to cancel the debt of £2.25 million that Camilleri owed. In fact, Camilleri had not declared the totality of his debts in the IVA proposal, which were substantially more than c.£5.7 million. For example, Camilleri declared one of his unsecured creditors, Rooftop Mortgages, as being owed only £160,000, when the accurate figure was £100,000 more, at £269,519.44. Had Mr Camilleri’s creditors accepted the IVA proposal, they would not have even seen the 1.29 pence that Camilleri had promised them.

In respect of his assets, Camilleri declared in his IVA Proposal that he owned 100% of the shares in Fresh Start Living Limited that had nominal value. In fact, Mr Camilleri was not the registered owner of the shares, and it was the prosecution’s position that the company was plainly not of "nominal value”. The prosecution produced evidence showing that Fresh Start Living had over £1.125m in one of its bank accounts only months after Camilleri had presented his IVA Proposal. Evidence also showed that during the year 2011, Fresh Start Living’s fixed asset register recorded it as owning a Maserati Quattroporte, an Aston Martin DB9, an Aston Martin V8, an Audi S8, and a number of Mercedes vehicles and vans. Camilleri declined to call any evidence and left the jurisdiction for Switzerland on the last day of trial, before the jury returned their verdict. On Wednesday 31st January 2018, His Honour Judge Field QC sentenced Mr Camilleri in his absence to a custodial sentence of 12 months, suspended for 12 months, and a £10,000 fine.    

A former public schoolboy has been named as the alleged mastermind behind a multi-million pound property development fraud, according to High Court papers.

Charles Cunningham, whose time at Eton overlapped with Prince William’s, has been identified in court papers as controlling a series of companies used to defraud Asian investors of millions of pounds by enticing them with UK developments that were never completed.

The son of a City financier, Mr Cunningham, whose brother Rupert is friends with some of Prince Harry’s inner circle, lives in a large country estate in North Wales with his wife. The couple boast a who’s who of society contacts.

Mr Cunningham, 38, flatly denies all the allegations and has said that he is confident that a High Court hearing will overturn the freezing order which was brought by the liquidator of Absolute Living Developments.

He has been accused of being one of the masterminds behind ALD, which offered five large development projects in northern England that were marketed to investors in the Far East and South-East Asia.

But in April 2016 the company, which boasted developments in Runcorn, Manchester and Bradford, went into liquidation.

ALD is one of a raft of UK property companies that have become mired in controversy in Asia. Hong Kong investors and politicians have accused the UK authorities and police of turning a blind eye to multi-million pound ‘fraud’.

Hong Kong politicians have reported ALD to the Serious Fraud Office and have also asked the Chinese government to protect the interests of Chinese investors in UK property projects. The news comes as Beijing attempts to slow down the outflow of capital from the country.

Liquidator Louise Brittain was recently granted a £14.5 million freezing order in the High Court, designed to prevent ‘steps to dissipate or secrete assets’ from ALD by Mr Cunningham and a business partner.

In her High Court affidavit in support of the order, the liquidator said she had discovered that ‘a substantial proportion of the monies owed and/or paid to ALD…had been wrongfully diverted’ to three companies, named as DS7, Gozon and EPG Manlet.

Brittain states that the ‘three companies form part of a complex structure of entities under the control’ of Mr Cunningham and his alleged business partner, which, she claims, ‘has been used to defraud investors (most of whom are based in Hong Kong and Malaysia)’.

Mr Cunningham told The Mail on Sunday: ‘These monies were not wrongfully diverted and a forensic report is currently being prepared which will establish the exact payments and the legitimacy of those payments made by these companies.’ ALD, set up in 2013 to market properties, is linked to a Salford-based company called Fresh Start Living. In 2011, Mr Cunningham was brought in as the face of FSL, but the firm went bankrupt in 2013 with debts of more than £2 million.

Mr Cunningham, whose ancestors include baronets and a Founding Father of the American constitution, has a social media profile showing that he is Facebook friends with Ben Vestey, a close friend of Prince William, and Edward Guinness, a scion of the brewing family.

In April 2016, Mr Cunningham bought a large Georgian country house in North Wales for more than a million pounds. It has played host to visiting literary giants Lord Byron, William Wordsworth and Sir Walter Scott. Mr Cunningham told The Mail on Sunday: ‘The freezing order is a cynical abuse of power. DS7 categorically refutes all claims and allegations made by Louise Brittain and it will challenge the injunction and debunk any allegations with the very facts and evidence that they have deliberately withheld.’

In the court papers, the liquidator states that ALD would take 50 per cent of the purchase price usually before the company had even bought the property. Investors complain that the properties were never actually completed.

Mr Cunningham admitted that some had not been finished, but blamed a group of Malaysian businessmen who he claimed were the ultimate owners of ALD. 

Source: Adam Luck – Mail on Sunday

The saga of the wealthy foreigner investors, the school pal of Prince William and the troubled penthouse flats

Investors from the far east pumped thousands into turning this Old Trafford mill into flats. But there's been a string of complaints.

Wealthy foreign investors are suffering ‘sleepless nights’ because of a troubled Manchester property development.

Buyers of 'off-plan' apartments at Empress Mill, at Empress Street, Old Trafford, were promised generous profits on rents. But, a year-and-a-half past deadline and the conversion, on the outskirts of Manchester city centre, is still not finished.

Now Charlie Cunningham, a 38-year-old developer linked to the scheme, has had his assets frozen by the High Court.

Mr Cunningham, who was at school with Prince William, is being held liable for nearly £15m of funds generated from investors in Empress Mill and other projects across the country.

Buyers in the Far East - Malaysia, China, Hong Kong, Macau and Taiwan - plunged money into the Empress Mill.

Convinced by a 10-year guarantee of an 8.5 per cent return, the average buyer forked out around £95,000 for their flat.

Investors bought off-plan - which means before they were built - believing they were were getting a better deal on a buy-to-let. But work stalled after one of the companies involved with the scheme, Absolute Living Developments Ltd (ALD), went into liquidation in April 2016.

Now, five penthouse apartments remain unfinished. Another 33 were left in poor condition forcing some buyers to spend thousands on refurbishing them.

Buyers claim they have been asked for yet more money to see the scheme completed - or face the building being closed and millions being lost.

Despite this, most of the properties have been let and occupied. Trafford Council have confirmed they have received a string of complaints about the building’s condition.

One buyer said: “I am deeply disturbed by the problematic investment in Empress Mill. I can hardly sleep for many months as I stand to lose my lifetime saving.

"I spent many months reporting the case to the various UK authorities but no one seems to care mainly because we are overseas buyers. Other victims and I have totally lost faith in the UK property market as there are no laws to protect overseas investors.”

The liquidator, Louise Brittain, alleges that money linked to Empress Mill and other stalled developments has been ‘wrongfully diverted’ to a number of companies. One of them - DS7 -is linked to Charlie Cunningham, an Old Etonian property developer.

In a statement Mr Cunningham told the Manchester Evening News he denies any wrongdoing and intends to fight the High Court’s freezing of his assets.

The High Court ruling prevents him removing up to £14.5m in assets out of the country, but allows him £1,000 a week in living expenses and another £10,000 for legal advice and representation.

Speaking on behalf of DS7 however, Mr Cunningham says that he intends to fight the ruling.

He said: "DS7 categorically refutes all claims and allegations made by Louise Brittain and it will challenge this injunction.

“DS7 is currently preparing its case. In doing so, it has absolute confidence in the legal system to arrive at the truth.”

Two other individuals named in the freezing injunction are Salford businessmen, Andrew John Camilleri and Phillip Wright.

Trafford Council says they have received a number of complaints regarding the state of the building.

Charity conman linked to £30m property development at centre of police fraud probe

http://www.dailyrecord.co.uk/news/scottish-news/charity-conman-linked-police-fraud-10187112

Two years ago £30m of flats were sold at this site, now police are investigating

http://www.manchestereveningnews.co.uk/news/greater-manchester-news/two-years-ago-30m-flats-12752872

Rotherham Development linked to Dubious Investment Schemes

Work is slow on a housing development in Rotherham town centre with development companies wound up and even linked to protests in Hong Kong by worried investors.

Revised plans to convert the historic Howard Building into self-contained studios and apartments were approved by the planning board at Rotherham Council in 2015.

The prominent former college building was sold prior to going to auction after it was advertised as a development opportunity and given a guide price of £250,000 by local auctioneers, Mark Jenkinson & son.

With little evidence of the conversion into twelve, one bed apartments and 60 studio apartments at "Howard Residencies", applicants, AVRO Developments headed into insolvency, with Rotherham Council leading the petition in 2015 to have the company wound up.

Financial documents link AVRO Developments to DS7 Limited which has acted as a lender to Absolute Living Developments, Fresh Start Living and Empirical Property, all highlighted in the media as leaving buy-to-let investors out of pocket.

Similar schemes in Manchester, Bradford and across the North of England were sold off plan to investors with the promise of decent returns, but the work was never completed and companies were wound up and projects moved on in complex deals. In some cases where some work was carried out, tenants were left with exposed electrical wires, a leaking roof, an illegal gas connection, a car park strewn with contaminated waste and an open sewer pipe.

The Telegraph & Argus reported this year that police in Hong Kong are conducting an international investigation into Liverpool-based Absolute Living Developments, which had been part-way through three apartment projects in Bradford when it was placed in compulsory liquidation. Overseas investors fear they have lost their money paid in deposits.

Howard Residencies is currently being offered as an investment opportunity by Crown Union (located at a virtual office in London and shares directors with companies linked to the Howard Building and DS7 Limited). It is offered as an "Ideal purchase for investors looking at UK Buy To Let's as a way of getting onto the first rung of the property investment ladder. From dynamic apartment layouts to classic period façade and stonework surrounds, this redevelopment brings together Rotherham past and present to create a truly unique place to live for post-graduates, young professionals & key workers."

Starter pads and 1 bed apartments are being offered at £49,950 and £69,950 with an 8% ROI per annum.

http://www.mirror.co.uk/news/uk-news/freshstart-living-shut-down-high-2919959

http://www.thetelegraphandargus.co.uk/news/14908996.Investigation_into_developer__39_s_collap %20%20se_continues_as_number_of_people_alleging_de ceptio%20%20n_grows/

http://www.thestandard.com.hk/section-news.php?id=170660

http://dmh.plcdn.com/wp-content/uploads/2016/01/dmh_howard_web.pdf


Crown Union website

http://www.crown-union.com/item/howard-residences/

by Tom Austen http://www.rothbiz.co.uk/

Investigation continues into collapse of Bradford flats developer as number of people alleging deception grows


http://www.thetelegraphandargus.co.uk/news/14908996.Investigation_into_developer__39_s_collap se_continues_as_number_of_people_alleging_deceptio n_grows/

Investors' concern at new plans for Olicana House development

 

 

Olicana House in Little Germany, which is in the process of being turned into flats

The collapse of Absolute Living Developments sparked protests in Hong Kong

 

 

 Investors' concern at new plans for Olicana House development


BUY-TO-LET investors left out of pocket by the collapse of a development company have raised concerns about the firm now in possession of the building.

Former council office Olicana House, in Little Germany, Bradford, was being turned into flats by Absolute Living Developments (ALD) when it went into liquidation earlier this year, sparking an international investigation.

In total, 49 flats at Olicana House were incomplete, despite buyers paying sizeable deposits for them.

The building is now in the hands of another company called DS7, which had been a secured creditor in the project.

 

 

 http://www.thetelegraphandargus.co.uk/news/14791574.Investors____concern_at_new_flats_plans/

 

 

Investment firm takes on Bradford city centre flats scheme at centre of Hong Kong police probe into previous developer's collapse

Olicana House in Little Germany which has a new owner following the collapse of a development firm

Sotheby’s International Realty terminates franchise agreement with Sino Gateway

Statement says firm is ‘disappointed to learn of the legal matters involving [Gateway offshoot] Hong Kong Homes’

Sotheby’s International Realty, the New Jersey headquartered estate agency franchise, has terminated its agreement with Hong Kong partner Sino Gateway, after claiming the latter was involved in “legal matters” over its ability to sell properties overseas.

“Effective August 26, 2016, we terminated our franchise agreement with Sino Gateway that previously did business as Hong Kong Sotheby’s International Realty,” Sotheby’s said in a written email to the South China Morning Post on Tuesday.

Sotheby’s said it had terminated the agreement as it was “disappointed to learn of the legal matters involving Hong Kong Homes.” It did not elaborate.

Sino Gateway is owned by veteran property agent Samson Law, who also owns another agency called Hong Kong Homes, which specialises in selling overseas properties to Hong Kong buyers.

Hong Kong Homes was the marketing agent promoting a number of uncompleted properties in Manchester to Hong Kong buyers two years ago.

But some of the projects failed to be completed according to schedule, triggering angry buyers to report the case to the Hong Kong police.

In June, a group of 60 buyers protested outside Wan Chai police headquarters, calling for an investigation involving the unfinished presale properties Manchester and Bradford.

As more Hong Kong people invest in overseas properties, there could be risks involved. The government should consider how to protect buyers and how to regulate the industry

KOH KENG-SHING, LANDSCOPE CHRISTIE’S INTERNATIONAL REAL ESTATE CHIEF EXECUTIVE AND FOUNDER

Hong Kong media reported that hundreds of local buyers bought units in 2014 to be built by British homebuilder Absolute Living Department. But the developer was wound up in February this year. Hong Kong Homes was the marketing agent for some of the projects.

Hong Kong Homes also marketed another project called Angelgate in Manchester, which was developed by PinnacleMCGlobal, slated to be completed in February 2016. Construction work was delayed after their building contractor went into administration.

Asked why the agreement was terminated, Law of Hong Kong Homes, said: “Let me think about how to answer you.”

Sotheby’s started the franchise agreement with Sino Gateway in 2010. Law told the Post in a 2010 interview that it was a 25-year franchise agreement.

Sotheby’s International Realty is a subsidiary of Realogy Holdings Corp, a New York-listed company in real estate franchising and provider of real estate brokerage, relocation and settlement services.

In February 2004, Realogy entered a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise.

“As more Hong Kong people invest in overseas properties, there could be risks involved. The government should consider how to protect buyers and how to regulate the industry,” said Landscope Christie’s International Real Estate chief executive and founder Koh Keng-shing.

The sale and purchase of overseas properties are not subject to the regulation of the Estate Agents Ordinance.

Appointment of Liquidators
ABSOLUTE LIVING DEVELOPMENTS LTD

(Company Number 08766275)

Registered office: Chichester House, Chichester Street, Rochdale, Lancashire OL16 2AU

Principal Trading Address: Chichester House, Chichester Street, Rochdale, Lancashire OL16 2AU

Notice is hereby given in accordance with Rule 4.106 that I, Louise Mary Brittain, of Wilkins Kennedy LLP, Gladstone House, 77-79 High Street, Egham, Surrey, TW20 9HY, (IP No: 009000) was appointed Liquidator of the Company on 21 July 2016. Creditors who have not proved their debts must forward their proofs of debt to me.

Further details contact: Guinevere Ellis, Email: guinevere.ellis@wilkinskennedy.com Tel: 01784 435561.

Louise Mary Brittain, Liquidator

21 July 2016

Hong Kong Police confirm Runcorn flats conversion company probe

Matter passed to commercial crime bureau after 118 people claim they were 'deceived', following protests outside police HQ and UK consulate

 

Hong Kong Police (HKP) has confirmed it is examining allegations made in connection with a company behind a controversial flats project in Runcorn

In a reply to the question whether it was investigating Absolute Living Developments (ALD), an HKP spokesman said it had received reports from 118 individuals who ‘suspected they were deceived while investing in properties involving HK$74.17m’ and the matter was being ‘followed up by the commercial crime bureau’.

 

ALD was the company that launched the controversial bid to convert the asbestos-contaminated East Lane House in Runcorn into 448 one-bedroom flats, 394 of them in the ‘studio’ style.

Winding-up proceedings are now under way at ALD.

Hong Kong legislator James To Kun-sun leads protestors as they marched to the UK Consulate General from the Legislative Council Building in Admiralty, Hong Kong, to call for an investigation into Absolute Living Developments.

Last week it was reported that angry investors had protested outside Hong Kong Police headquarters and the British Consulate General in Hong Kong over ALD.

Chinese and trade press articles from publications including The South China Morning Post, RTHK, The Standard and Property Industry Eye had covered the demonstrations.

The investors are being represented by Hong Kong lawmaker and trained solicitor James To Kun-sun, whose office has said one of the complaints relates to one flat at East Lane House.

A spokeswoman for Mr To said the protests were in connection with ‘suspected fraud’ and ‘about five projects in the UK’.

They have claimed the matter could damage the UK’s business reputation.

Mr To has written to the Consulate General Caroline Wilson and City Of London police commissioner Ian Dyson.

East Lane House in Runcorn. Absolute Living Developments won planning permission to turn it into 448 one-bedroom flats on appeal after the Planning Inspectorate found in the company's favour, overturning Halton councillors' refusal to grant permission.

Companies House documents showed that ALD was first registered to an address in London and later Liverpool and prior to December its directors were based in Malaysia.

Management of the East Lane House flats scheme has passed to another company, Singapore-based Daniel Mark Harrison & Co.

The UK Foreign And Commonwealth Office and City Of London police commissioner Ian Dyson were approached for comment.

 Despite the denial of DMH that they are not pushing the sale of ALD projects to victims of ALD, many HK and Singapore investors can testify that Daniel Harrison of DMH did come to Hong Kong and Singapore to press buyers to buy the Whitehouse project. One couple among the ALD victims also tried help pushing the sale of Whitehouse. At least one Singapore buyer had entered into contract with DMH and ALD to buy Whitehouse unit in two separate agreements. The ALD liquidator meeting was held on 21 July 16. DS7 mastermind disappeared from the scene and only one Japanese represented him without an attorney. The liquidator status was won by ALD appointed liquidator but DS7 can still appeal by 21 day's time. If DS7 decides to appeal, more evidence will surface as the evidence of the legal charge needs to be produced by DS7 that can trigger a series of action by the victims' attorney and public authorities. ALD victims continued to receive invoices for service charges and ground rents from mysterious companies without authorised persons and proper registered addresses. They were even asked to pay the service charges prior to the liquidator appointment meeting in order to enjoy a discount from 1300 odd to 800 odd British pounds. These companies or ground rent collectors are all inactive companies with the minimum share capitals and dormant accounts.

The Mill / Orchid Point property in Trafford, UK developed by ALD /FSL 

The property is sold by Absolute Livings Development Ltd (ALD)sold with a 10 year net rental guarantee of 8.5% p.a. and the rentals for the first 2 years are used to offset the selling price. The sales agent called Hong Kong Homes said no need to pay ground rent or service charges for the first 10 years because ALD will pay. The sales brochure also says 8.5% net minimum annual rental return. The development project is called The Mill with 38 units, 33 3bedroom duplex flats and 5 penthouses. Most units were sold by HKH in 2014. 

Flat buyers smell scam in UK projects

As more Hong Kong people are investing in overseas properties, there could be risks involved - even if the projects are located in developed countries like Britain.

A group of 60 buyers protested at Wan Chai police headquarters at the weekend to demand cooperation with British police to investigate a potential scam involving unfinished presale overseas properties in Bradford and Manchester. 

An estimated 200 locals had bought presale flats at five projects in Bradford and Manchester, being built by a British developer - Absolute Living Development - in 2014. One of the projects was called Olicana House. The purchases were made through a local agency known as Hong Kong Homes.

Some projects were supposed to be completed in the second half of 2015. However, Absolute Living Development was wound up in February, and representatives of the projects disappeared. Some buyers visited a construction site and discovered there was no building there. 

After the developer folded, the real estate agency suggested buyers make the remaining payments to "save" the project. The buyers then found out the developer transferred 85 percent of the proceeds to a creditor, and some people were board members of both companies. The buyers suspected a scam.

Lawmaker James To Kun-sun said about 200 to 500 buyers were involved and had either paid in full or a 50 percent deposit.

To estimated each buyer stood to lose around HK$500,000, with the total sum possibly reaching HK$150 million. 

One of the buyers said agents told them in 2014 the rental return was guaranteed to be 8 percent for the first four to five years after completion. 

The buyer further alleged the developer arranged for lawyers from Britain to explain property deeds, and he believed in Britain¡¦s legal system. However, To said there are no laws to supervise the sale of overseas properties in Hong Kong.

David Hui, sales director of Centaline Property project department (China & Overseas), said buyers need to be wary of developers launching presale projects for the first time. 

Police said 24 complaints were received involving HK$8.38 million on Saturday. The case will be followed up by the Commercial Crime Bureau.

Since Daniel Mark Harrison was appointed director of Absolute Living Developments Ltd. The following unpaid Court Judgements are recorded.

Daniel Mark Harrison must be suffering from memory loss - he is TODAY 01 June 2016 -  listed as the ONLY director of ABSOLUTE LIVING DEVELOPMENTS LIMITED.

HARRISON, Daniel Mark

From Daniel Mark Harrison & Co. (DMH&CO):

Note that Daniel Mark Harrison & Co. (DMH&CO) DID NOT purchase Absolute Living Developments and as such neither the company nor the firm's shareholders have anything to do with ALD.

For clarity, DMH&CO, a Singapore-registered company with Company No. 201538055E and the company's offices are based at 31-00, Suntec Tower Two, 9 Temasek Boulevard, Singapore 038989.

DMH&CO has no legal ties with Absolute Living Developments Ltd., the UK- and Malaysia-based developer that has recently gone bankrupt. Please remove our name therefore from this post or we will start to pursue legal action with immediate effect. 

Some ALD investors have recently maintained DMH&CO purchased ALD because of the activities of the former ALD shareholder(s) who tried to make the Singapore company the scapegoat for the culmination of years of problems. 

By way of background then: in 2015, DMH&CO announced it was thinking of purchasing ALD (announcement via financial press), but after some considerable due dilligence it was revealed that the liabilities on ALD's balance sheet were too great to justify an outright sale without some sort of participation from the previous owners to restore it to liquidity (which they refused to do). Therefore, on April 1, 2015 a formal decline to purchase letter (attached) was sent from the company's CEO to the owner of the shares of ALD George Leong. Absolute Living Developments is a now defunct developer that was responsible for developing Olicana House as well as Summerberry, Print House, Empress Mill and various other North of England properties.

The day following Mr. Harrison's letter of resignation and refusal to purchase the shares of ALD, the shareholder of ALD altered the annual filing to reflect that he had sold the shares to Mr. Harrison and backdated the filing to Feb 1 (however the Companies House electronic filing system clearly reveals that the entry was made on April 6, 2016). This is believed to have been done in order to avoid a winding-up petiition that the owner was aware was coming later that month.

There was never an agreement to purchase ALD and there is no sales and purchase contract or written agreement in place between Mr. Leong and Mr. Harrison to sell or purchase the shares. Mr. Harrison has informed the relevant authorities in the UK who have agreed to ammend the filings to reflect that Mr. Leong is the owner of the shares of ALD. Mr. Harrison and DMH&CO have no connection with ALD therefore. Please see the attached letter which was sent tie-stamped and date-stamped by e-mail and sent via FedEX to Companies House and is thus post-stamped as evidence of its priority over the filing at Companies House.

Note that DMH&CO merely looked at purchasing ALD, and has NO ownership interest in the company. We intend to begin litigating anyone who claims that we do hold any interest in the company as this is not the case. Moreover, we wish to make it eplicitly clear that we have never taken any deposits for ALD developments, or any other form of funding for said developments. For our own developments althought we are not required by law to do so, we use individual client accounts as this segregates funding in an orderly way; for the purpose of providing some perhaps helpful information, we considered it highly irregular that this was not the case when studying ALD financials.

Some investors have reported agents maintaining that DMH&CO is asking for additonal monies for ALD properties to be completed - we wish to state this is not true - we will NEVER demand money from you tothis way let alone via an agent and let alone for a development we have no material interest in or even participation in. If someone is telling you that DMH&CO is asking for monies to be invested, please take that person's name and number and contact us IMMEDIATELY with the necessary details on the following coordinates: for e mail please write to contact@dmh.co or for phone call us on +6565595363.

Sincerely, 

Daniel Mark Harrison & Co. Pte. Ltd.

I couldn't breathe for laughing when I saw this - 

• Award winning developer and management ?

rightmove.co.uk/new-homes-for-sale/property-41048211.html?utm_source=facebook&utm_medium=sharing&utm_campaign=newhomes

Following the failure of Fresh Start Living Limited, Charles (Charlie) Cunningham's sister,

Henrietta Maria Charlotte Cunningham is now flogging the same properties.

http://vesper-stone.com/

Ford Lane Salford : Now called Viewpoint Salford

Howard Residences - Rotherham

The Colonnade, Bradford, change the name to "The Fort", change the name to "Summerberry Residences"...change the name...change the name....the building remains the same.

I would look at this Absolute Living Developments with caution. They are overdue producing their accounts. Actually they have never produced any accounts.

A Singapore-based property firm has bought the company behind a controversial flats project in Runcorn.

Daniel Mark Harrison & Co (DMH) said the deal to take over Absolute Living Developments Limited (ALD) makes it the biggest developer and renovator in northern Britain.

A statement on the company’s website said ALD’s portfolio has £50m of real estate works under way in the North of England and offers 8.5% yields to investors.

These include a project to convert the former government office and asbestos-contaminated eyesore East Lane House into 448 flats and re-brand it as ‘White House’.

The scheme has been criticised by councillors, one of whom slated it as ‘the slums of the future’ at a Halton Council development control committee meeting.

ALD has insisted the project will attract young professionals and key workers and will revitalise the neighbourhood and its economy.

The East Lane conversion project will be managed by DMH’s ‘Harrison Homes’ brand and has been valued at £28m by the company.

The announcement, published on Wednesday, December 9, said DMH’s founder, president and chief executive Daniel Mark Harrison was ‘assuming the role of white knight’ by financing the deal via private equity.

It added that DMH is looking to ‘reinvigorate’ ALD’s commercial activities, which include 624 pre-sold units and a further 248 being handed over to investors.

The statement said DMH’s expansion in 2015 has been ‘aggressive’, and in addition to construction developments it had launched ‘generous financing packages’ such as underwritten buyback agreements.

Mr Harrison said: “What investors are noticing is the massive value we, as a well-capitalised developer with a wide Hong Kong and Singapore-based distribution presence, can offer in terms of innovative pricing structures, risk mitigation factors and return incentives.

“Now with this agreement to take over all of Absolute Living Development’s business activities, we will be able to capitalise on the highly fragmented nature of the UK property development industry and drive through a monopolistic sort of growth in the areas ALD has invested in.”

http://www.liverpoolecho.co.uk/news/real-estate-firm-buys-company-10580791

Developers Link To Failed Firm



A company behind a controversial bid to turn a derelict government building in Runcorn into flats has distanced itself from another firm that went bust under a cloud of anger from investors and the Advertising Standards Agency in 2013.

Absolute Living Developments (ALD) has applied to convert East Lane House next to Runcorn Shopping Centre into 448 studio and single-bedroom flats.

On Friday, it confirmed to the Weekly News that it had taken over some part-completed developments from Fresh Start Living (FSL), which went into liquidation in 2013.

The company’s statement came after the Weekly News found loan documents lodged with Government business website Companies House relating to third party lender DS7 Ltd.

The forms showed that DS7 had loaned cash to ALD for the East Lane House project, with the terms of the contract granting DS7 Ltd power to appoint one of its officers as a receiver in the event that ALD goes into receivership.

The contract also gives DS7 Ltd the power to ‘take possession’ of the flats in the case of ALD’s demise.

Another form lists the recipient on a forwarding address for DS7 Ltd as ‘for the attention of Charles Cunningham’.

The Weekly News asked ALD whether this was linked to former Fresh Start Living director Charles Alexander Clunie Cunningham, who was the subject of a critical article by Daily Mirror investigative report Andrew Penman in September 2013.

Further documents on Companies House showed that a former Fresh Start Living director, Philip Wright, had been a director at ‘Absolute Living Developments (Orchid Point)’ – another company with a loan from DS7 Ltd.

ALD’s spokeswoman said Philip Wright had been on the board of a ‘vehicle’ that owned a FSL development site acquired by ALD.

He was replaced after the acquisition.

She said there was ‘no relation’ between ALD and DS7 Ltd.

Fresh Start Living went into liquidation in 2013.

Andrew Penman, of the Daily Mirror, said the firm had left investors fuming after they alleged they were left out of pocket having pumped thousands of pounds into properties renovated by FSL.

FSL was also investigated by the Advertising Standards Authority (ASA) after a complaint was made over the firm’s claim to have made a £4m profit. The ASA upheld the grievance.

The Business Desk reported in September 2013 that Stockport Council and Greater Manchester Fire And Rescue Service were taking separate actions over safety breaches.

An ALD spokeswoman said: “Absolute Living Developments have acquired a number of developments around the country.

“Some of these were part-completed developments from Fresh Start Living which were acquired when it went into administration, one being Orchid Point whereby Absolute Living Developments acquired the vehicle that owned the site.

“Philip Wright was on the board of the vehicle and was replaced when the acquisition completed – there is no other connection between Absolute Living Developments and Fresh Start Living.

“DS7 Limited is a lender to Absolute Living Developments on certain developments.”

Halton Borough Council’s development control committee is due to hold a ‘special meeting’ tonight to decide whether to allow ALD’s proposed conversion of East Lane House into flats.

The scheme has been blasted as ‘barmy’ by Halton Lea ward’s Cllr Dave Thompson.

ALD insists it will attract young professionals and key workers.

By Oliver Clay, Runcorn Weekly News / Liverpool Echo