The luxury of having a bank guarantee ???

Regarding BGs issued by SJ Let us all share our experience of true luxury and that wonderful feeling of having something to fall back on !  Thickyviking  I think you need a check up from the neck up .This is planet Earth . Enjoy your 50% on the table right now  I am almost there now but believe me it was no luxury gravy train it cost me a fortune and SJ thwarted me every step of the way .Good luck with any deal you ever sign with them they are rotten to the core !!!!!!!!! and beyond

I never said that getting money back using a bank guarantee was not going to be difficult.

I said the fact that you actually had a guarantee is a luxury.

If you mean by "i am almost there now" that you feel you may soon be getting your money back , then  surely point is proven.

If you have a BG then you are statisically more likely to receive something back than if you do not have a BG

Hi All

I agree with victheviking,those who have a BG are in a much better position than the majority of us who do not. They at least have their money protected by law and the liabilty for the debt is not with HdT but a bank. It might be a pain actioning the BG but it is better to be able to action a BG rather than loose all if  HdT get wound up.

Those of us without BGs can sorely afford HdT to go down the pan, we would loose our money .Some one else would pick up things really cheap and make a profit out of our loss. We must not and can not let that happen.

  I WANT A POSTIVE OUTCOME FOR ALL

Tony R17 18

If HdT are forced into liquidation i do not know how much of our deposits if any we will recieve back.

You claim on your post (we would loose our money) what exactly do you mean by that and what PROOF do you have to back up your claim.

Ken.

Hi Ken,

Many thanks for your question.

It is a fact that there has been a global credit crunch and that some countries have issues with their local economies . This is particulalry true regarding Greece, Spain etc and at the same time there has been a down turn in their construction industry. Factor in that most of HdT's assets are in land or property and the reality of trying to realise there value in a depressed market with little capital fluidity, it really would be a buyers market. So if for example, the  TV store down the road is closing down, do you go in and pay full price or wait until the price has dropped to rock bottom?  If HdT is wound up they are very very unlikely to get anything other than rock bottom returns  and worse still it could be problamantic for any buyers to have the money or even the desire to purchase any assets at the current time.

So if the Administrators did raise any money from a fire sale of assets who gets it? Well we are ordinary creditors and are down the pecking order and in reality we would be lucky to get anything and in all probabilty would get nothing. Worse still if we were paying a solicitor to act for us via any legal action (liquidation phase) ,we would not only probably not get any money back and have a legal bill. Therefore, i conclude that we really do not want that to happen and we truly need SADM to go ahead, no matter how anoying it may be to some, it is the only way to get out of this awfull mess.

I hope that is of help.

  I WANT A POSTIVIE OUTCOME FOR ALL

Tony R17 18