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Executive Sadman

Man With Funny Name Going Down.

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http://www.thisisnottingham.co.uk/homenews...il/article.html

The Ilkeston born entrepreneur who is a disqualified director, has brought in insolvency experts to help him save his empire. He says he is still hoped to save his businesses including Chek Whyte Industries, his property management business.

More monies yet to materialise taxpayer troughing filth.

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Mr Whyte, a former bankrupt, developed his businesses as a sole trader through a series of unincorporated businesses. This means he cannot seek the protection afforded to a limited company by administration, receivership or liquidation.

Oops.

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Guest skullingtonjoe
So does that mean he loses everything?

No way. The more you fu<k up the better things get. Expect to see him running property seminars when `The Recovery` takes off! :lol:

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Interesting comments on there.

Can the creditors demand that all assets are liquidated immediately?

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This the bit thats scares me...

Mr Whyte today spoke of his contrition mixed with a dream he still holds for his adoptive city of Nottingham.

That sounds like a politicians answer. ie having a dream and spending endless amounts of (other peoples) money to achieve it. Why cant any of these property developer types accept market forces. Slight downturn and they all start squealing for govt to force people to prop up the property market.

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Guest skullingtonjoe
yeah i remember now

If you owe the bank $100 that's your problem. If you owe the bank $100 million, that's the bank's problem :rolleyes:

Precisely, if you`re going into debt make it an amount that you cannot possibly repay! They`ll only continue to hound you if it looks like there`s a slim glimmer of hope that they`ll be refunded! :rolleyes:

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YES, another Schroedingers fat cat. a multi millionaire, and TV fraud, with nothing. not a bean. zilch.

the people he helped on secret millionaire were probably wealthier than he was.

just goes to show, its not what you have, its what people THINK you have that counts in this Oh So Shallow UK society.

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YES, another Schroedingers fat cat. a multi millionaire, and TV fraud, with nothing. not a bean. zilch.

I actually remember seeing the episode of TSM that he was in and he did come across as a genuinely nice guy, from the way he helped the people out to his own feelings about the place he was staying and the area he was in.

It doesn't however seem to concur with the comments posted on the original news article. I suppose there are two sides to every tale and it's your decision which you believe!

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I actually remember seeing the episode of TSM that he was in and he did come across as a genuinely nice guy, from the way he helped the people out to his own feelings about the place he was staying and the area he was in.

It doesn't however seem to concur with the comments posted on the original news article. I suppose there are two sides to every tale and it's your decision which you believe!

I dont condemn him at all.

Its the way people are valued by what they say they have and not what they actually have. We are all guilty of this to some extent...I have £10K in my current account I feel pretty well off. I tend to forget the £5k car loan I have.

but to call him a millionaire, have him being seen as a philanthropist, and praise his success, really puts egg on the faces of the sycophants who forget or ignore the reality....which will bite at some time.

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I dont condemn him at all.

Sorry, my previous post wasn't having a go at you at all, just how I saw him on the program when first broadcast.

I think the last 18 months have shown us a lot of 'millionaires' who have been caught with their pants down and have come back to earth with a, very large, bump!

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YES, another Schroedingers fat cat. a multi millionaire, and TV fraud, with nothing. not a bean. zilch.

the people he helped on secret millionaire were probably wealthier than he was.

just goes to show, its not what you have, its what people THINK you have that counts in this Oh So Shallow UK society.

That Secret Millionaire program was full of people like this. You wonder how that program was conceived, who approached whom, and what the objective of it was. It appears to have been a thinly disguised sales pitch for highly leveraged property developers, and property seminar sellers. I think it was probably all a set up. The money they gave away, if this guy is typical, was simply 'borrowed' from HM Revenue and Customs (i.e. us), their banksters and unsecured creditors. All part of Ch4's property ramping role it would appear.

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I dont condemn him at all.

Its the way people are valued by what they say they have and not what they actually have. We are all guilty of this to some extent...I have £10K in my current account I feel pretty well off. I tend to forget the £5k car loan I have.

but to call him a millionaire, have him being seen as a philanthropist, and praise his success, really puts egg on the faces of the sycophants who forget or ignore the reality....which will bite at some time.

There is a problem with the system though. Yes, all business people should keep a fair cash cushion. However, it's massively tax inefficient and if you're not investing the profits and availing yourself of cheap credit to expand the business then your competitors will be.

If this was the Secret Millionaire I saw then I seem to recall he came across ok. I must add that anyone who agrees to go on such a programme is probably a tit to start with though, at the least they're setting themselves up for a fall.

In actual fact, I reckon, alot of these programmes attract people who aren't that far from disaster. It's kind of a way on getting it on record that they were a big I am before it all collapses around their ears.

In the case of this guy I would say fair play for bouncing back from bankruptcy (don't forget Branson's been bankrupt). Also, fair play for personally guaranteeing everything rather than just being able to pre-pack. Most of the comments on the article just sound like envy/tall poppy syndrome, I don't think this guy is by any means the worst example of over-leveraged property spiv.

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That Secret Millionaire program was full of people like this. You wonder how that program was conceived, who approached whom, and what the objective of it was. It appears to have been a thinly disguised sales pitch for highly leveraged property developers, and property seminar sellers. I think it was probably all a set up. The money they gave away, if this guy is typical, was simply 'borrowed' from HM Revenue and Customs (i.e. us), their banksters and unsecured creditors. All part of Ch4's property ramping role it would appear.

Two interesting comments which sum the madness up. Businessman made good, PFI and irresponsible lending from banks:

There is more to this story than just ripped off contractors. It goes to the heart of New Labour's spending spree.

From an FHP newsletter published a year ago.

"Until recently Adrian Bowyer worked for the District Valuer's Office undertaking rental assessments for Primary care Trusts. Adrian has joined FHP to advise doctors on a range of property issues to challenge Notional Rent Assessments awarded by Primary Care Trusts. Recently Adrian acted for Chek Whyte Industries and negotiated a £410,000 pa rent for a new medical centre in Nottingham. Chek Whyte commented: it is a real asset to have such expertise at FHP."

So we have former civil servants working for property companies to maximise their take from the mountains of cash New Labour has been pouring into the NHS. And Chek Whyte was there sucking up as much as he could.

Nick, City Centre

commented on 11-Jul-2009 10:23

I WONDER IF THIS PAPER WILL FINALLY INVESTIGATE THIS MAN SEING AS THEY WONT BE GETTING ANY MORE ADVERTISING REVENUES FROM HIM OR ARE THEY SCARED OF HIS HENCHMEN COMING ROUND ME THINKS THE LATTER AS THIS PAPER HAS NO BACKBONE

! :lol:

Edited by HostPaul TAFKA Rover2000

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http://news.bbc.co.uk/1/hi/england/notting...ire/8234520.stm

hope this hasn't already been covered

A Nottingham businessman who featured in the TV series Secret Millionaire has been declared bankrupt, lawyers say.

Property developer Chek Whyte is believed to owe £30m and had attempted to make arrangements to continue trading while paying off his debts.

The self-made millionaire appeared on the Channel 4 TV series in 2007 and gave money to deserving causes in Salford, Greater Manchester.

His bankruptcy is thought to be one of the biggest cases of its kind.

Mr Whyte made his fortune from construction and development, renovating dilapidated listed buildings such as Colwick Hall and Clifton Hall in Nottingham.

Can anyone in Salford lend him a few quid ? ;)

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He'll be alright as long as he salted away his millions into a private bank account whilst saddling the limited liability company with the debt. Doubt he will go hungry. Remember folks, money is debt!

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Guest UK Debt Slave
http://news.bbc.co.uk/1/hi/england/notting...ire/8234520.stm

hope this hasn't already been covered

Can anyone in Salford lend him a few quid ? ;)

I remember the episode well

There were a few scenes where he was filmed swanning around in his ubergaff. I remember thinking at the time it smelled badly of bull$hit.

Too bad eh? He seemed quite genuine in the show. Just reinforces my opinion that all that glitters isn't made of gold

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http://news.bbc.co.uk/1/hi/england/notting...ire/8234520.stm

hope this hasn't already been covered

Can anyone in Salford lend him a few quid ? ;)

He's been mentioned once before but it was two months ago, so you can be forgiven ;)

I on the other hand need to get a life.

This was the thread.

not much point checking it out, but the link to the local paper in Notts was interesting

http://www.thisisnottingham.co.uk/homenews...il/article.html

Here's some comments from the paper.

I worked for check on the Salford apartments (rosehill court) he goes on about how he wanted to help the community when in actual fact it was all a publisity stunt and coudnt give 2 s*!ts about anyone but himself he employed many subcontractors had them carry out works and look for anyway of not paying them even as far as making excuses up, he also prommised to keep one young lad in employment and prommised him alsorts on tv then 2 days after he filmed the secret millionre re-visited where he prommised all this he sacked him.... Well I say what comes arround goes arround!!!
am a Property Manager now since my miserable time with Mr Whyte.

DO NOT pay any more money, as long as you can get proof that you paid the money into an Account then you do not need t opay anymore unless it is owed.

Your deposit should be, BY LAW, (which lets face it doesnt mean anything to Mr Whyte) be placed in a Tenancy Deposit Scheme.

If it isnt or he cannot tell you which one then you can go to a deposit scheme and reclaim your money. You can also claim (in some cases) up to 3 times the amount of your deposit back as it hasnt been placed in to a scheme.

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Crikey! If you owe the bank £30,000,000 then......................they've got a problem!

:lol:

HBOS are out to the fat end of £500m to individual borrowers. £30m is less than their exposure to Imagine Homes IIRC as well.

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