Sunday, April 12, 2009

Bovey Homes

THE GRIM REPOS

CASH-STRAPPED Anthea Turner and husband Grant Bovey are preparing to profit from other people's misfortune-by snapping up repossessed homes. Their last property firm went bust just last December, leaving creditors £389,648 out of pocket. And Bovey has FOUR OTHER failed property companies to his name. But the undaunted pair-on Hell's Kitchen from tomorrow for a rumoured £100,000 fee-are gleefully rubbing their hands in anticipation after lodging official papers for new firm The Distressed Property Company Ltd.

Posted by sold out @ 10:48 AM (4036 views)
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5 thoughts on “Bovey Homes

  • I’ve gotta say, they’re not the only property ‘gurus’ looking to get out of conventional property porn.

    I see Kirtsy Allslop is trying to rebrand herself as an interiors designer?!

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  • How will they get credit to buy these homes? They appear to be deep in negative equity with all their property exposure. Also as one of the comments points out, “If a company goes bankrupt aren’t the directors banned from being directors of another company for 5 years? Hence how can they be back in business legally?” Something’s not right here.

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  • Drewstr @ 2

    Also a bankrupt will loose all his cash and equity once declared bankrupt, so who is lending to them? (Anthea was a Director too)

    Maybe a little digging at the High Court will reaveal all. This information is in the public domain. I know of a bankrupt who was banned from being a Director for 12 years.

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  • Will,
    I should have read the article more closely. It says “Former finance chief Neil Barnett, 42, is director of The Distressed Property Company.” – That’s how they’re getting around the directorship loophole. Nevertheless, would any bank be so foolish as to lend to the former *finance* director of a bankrupt company? We’ll see.

    If it works out for them then I’ll just throw caution to the wind. I’ll set up my own doomed-to-fail companies, borrow shed-loads from the banks, invest it in dodgy property schemes, and pay myself a massive salary. Or are the rules different for celebrities?

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  • If the finance director has any sense, he won’t give them the money they are expecting, even if it does prove profitable.

    To be fair, at least they know about how to repo, having gone through the process themselves!

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