Lets Get Stoned Round the Wrekin

wanderer


Joined: 05/02/2009
Posts: 1653

Message Posted:
16/02/2010 18:16

The Wrekin Ruby gemstone – exchanged for £11 million worth of shares in doomed firm Wrekin Construction – has been sold for £8,010, administrators said today.



The ruby, known as the Gem of Tanzania, was sold by administrators for Wrekin Construction to Pertemps Investments Ltd following a private auction.



The 10,700 carat ruby had been put up for sale by Ernst & Young in a bid to claw back some of the millions still owed to creditors after the Shifnal firm went into administration last March.



The company’s collapse led to the loss of more than 500 jobs and the gemstone was listed among the firm’s assets.

jimmyG


Joined: 14/08/2008
Posts: 900

Message Posted:
16/02/2010 18:30

You can always count on the Administrators to get the best possible deals for the Creditors can't you ? and yet somehow they always manage to get what is owed to them don't they ?!!

wanderer


Joined: 05/02/2009
Posts: 1653

Message Posted:
16/02/2010 18:50

jimmy G the whole thing was a fraud for this man to gain control of a company the gem stone was never worth anything sad to say for the good employees of Wrekin