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Angry Grandad: Right or wrong?

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Re: Angry Grandad: Right or wrong?

Postby rbt2 » 16 Jan 2013, 20:57

I am with this bloke completely.
He spent that money on a voucher and it should be honoured.
I would do my f**king bollox if it wasn't!
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Re: Angry Grandad: Right or wrong?

Postby flash501 » 16 Jan 2013, 21:09

They obviously knew damn well that they probably wouldn't be able to honour these vouchers after Christmas yet they still made them available. That's not acceptable, imo.
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Re: Angry Grandad: Right or wrong?

Postby DAEDALUS79 » 16 Jan 2013, 21:46

Just to clear up any confusion, when a company enters administration, the people it owes money to become creditor like Bambis Dad said. There are two types of creditor, secured (ie banks, mortgage lenders etc) and unsecured (you). When a company is being wound up, all the assets and monies owed are pooled, and the secured creditors are paid off first, so any loans or monies owed to banks will be paid). Then, if there is anything left over, that is divvied up between the unsecured creditors. Its a s**tty system but thats the way the law works. If there isnt a clause in the small print absolving responsibility in these situations (which there undoubtedly will be) then all gift card owners will become unsecured creditors, and will only be abe to get their money back if there is anything left after the secured creditors have taken whats theirs. So basically, you dont really have a leg to stand on. Stock, ie the companies assets on shelves, becomes the charge of the administrator, so using the grandad as an example, he has stolen from the companies creditors, rather than HMV itself and is breaking the law in doing so.
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Re: Angry Grandad: Right or wrong?

Postby Mmmmgrolsch » 16 Jan 2013, 22:02

middle finger wrote:
DAEDALUS79 wrote:The problem with times like this is that everyone panics, and tried to get their money back as quickly as possible. If customers with gift cards just chilled the f**k out and let the administrators sort the mess out, then odds are that they would be able to spend their vouchers within a month. Instead people do stupid things like this, and just dig an even deeper hole to fix. 4500 people stand to lose their livelihoods, and all people care about is a couple of quid they have invested on a piece of plastic.

Nah, That's a wankers response, I paid for it and there's nothing written at the back of my gift card about waiting one month.


As much as I feel sorry for the staff who are taking the abuse, I'm with Mf on this one. If I hadn't had spent my £300 on my card last year I would have been doing the same thing as the old man.


Let's be honest. The bunch of c**ts running the show new fine well months ago they were going under, but they chose to look after themselves by blatantly robbing people.

I really can sympathise with the front line staff though, getting paid next to nothing and having to face the horrible customers.
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Re: Angry Grandad: Right or wrong?

Postby shellster2 » 16 Jan 2013, 23:17

DAEDALUS79 wrote:Just to clear up any confusion, when a company enters administration, the people it owes money to become creditor like Bambis Dad said. There are two types of creditor, secured (ie banks, mortgage lenders etc) and unsecured (you). When a company is being wound up, all the assets and monies owed are pooled, and the secured creditors are paid off first, so any loans or monies owed to banks will be paid). Then, if there is anything left over, that is divvied up between the unsecured creditors. Its a s**tty system but thats the way the law works. If there isnt a clause in the small print absolving responsibility in these situations (which there undoubtedly will be) then all gift card owners will become unsecured creditors, and will only be abe to get their money back if there is anything left after the secured creditors have taken whats theirs. So basically, you dont really have a leg to stand on. Stock, ie the companies assets on shelves, becomes the charge of the administrator, so using the grandad as an example, he has stolen from the companies creditors, rather than HMV itself and is breaking the law in doing so.


Don't forget Deloitte will be taking a massive wedge as well. Like a bunch of f**king vultures the are.
Loving LCFC's surge to the top.
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Re: Angry Grandad: Right or wrong?

Postby TOKEN » 17 Jan 2013, 05:07

illegally yes,people should know not to put money on anything so let this be a warning to those planning on paying a deposit on next gen consoles or any game releases.we could be having a finacial armageddon,get your selfs a bug out bag :).
Game will be next with those prices.
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Re: Angry Grandad: Right or wrong?

Postby FishyGinger » 17 Jan 2013, 10:34

DAEDALUS79 wrote:Just to clear up any confusion, when a company enters administration, the people it owes money to become creditor like Bambis Dad said. There are two types of creditor, secured (ie banks, mortgage lenders etc) and unsecured (you). When a company is being wound up, all the assets and monies owed are pooled, and the secured creditors are paid off first, so any loans or monies owed to banks will be paid). Then, if there is anything left over, that is divvied up between the unsecured creditors. Its a s**tty system but thats the way the law works. If there isnt a clause in the small print absolving responsibility in these situations (which there undoubtedly will be) then all gift card owners will become unsecured creditors, and will only be abe to get their money back if there is anything left after the secured creditors have taken whats theirs. So basically, you dont really have a leg to stand on. Stock, ie the companies assets on shelves, becomes the charge of the administrator, so using the grandad as an example, he has stolen from the companies creditors, rather than HMV itself and is breaking the law in doing so.


Yep exactly. Think I was trying to get to that but really badly. Think the administrators get first pickings. Which is a lot seeing their fees.

I see what McDougal is saying, at my last place a customer we had supplied a lot of equipment to went down and we got nothing out of it. For us it was a massive order and we had to go on reduced pay because someone else went into administration. It's not fair on the lower staff and customers, it's only the ones who caused it that come off unscathed. And the administrators.
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Re: Angry Grandad: Right or wrong?

Postby StonecoldMC » 17 Jan 2013, 10:38

shellster2 wrote:
DAEDALUS79 wrote:Just to clear up any confusion, when a company enters administration, the people it owes money to become creditor like Bambis Dad said. There are two types of creditor, secured (ie banks, mortgage lenders etc) and unsecured (you). When a company is being wound up, all the assets and monies owed are pooled, and the secured creditors are paid off first, so any loans or monies owed to banks will be paid). Then, if there is anything left over, that is divvied up between the unsecured creditors. Its a s**tty system but thats the way the law works. If there isnt a clause in the small print absolving responsibility in these situations (which there undoubtedly will be) then all gift card owners will become unsecured creditors, and will only be abe to get their money back if there is anything left after the secured creditors have taken whats theirs. So basically, you dont really have a leg to stand on. Stock, ie the companies assets on shelves, becomes the charge of the administrator, so using the grandad as an example, he has stolen from the companies creditors, rather than HMV itself and is breaking the law in doing so.


Don't forget Deloitte will be taking a massive wedge as well. Like a bunch of f**king vultures the are.


Duff & Phelps (the administrators of Rangers) billed us for £2.7 million for about 4 months work. Only one winner when a company goes into administration and it ain't the company, the employees or the consumer.
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Re: Angry Grandad: Right or wrong?

Postby Multiplayerking » 17 Jan 2013, 12:59

HMV seems to be closed everywhere here, so it'd be impossible to spend vouchers anyway. :lol:
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Re: Angry Grandad: Right or wrong?

Postby ted1138 » 17 Jan 2013, 13:35

They should have stopped selling gift cards as soon as they new they were likely to go into administration, and from what I've heard, that was before Christmas...
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