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Topgifts.ie gone into liquidation

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135

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    #62
    bumpydog
    Closed Accounts Posts: 144 ✭✭bumpydog


    Just a quick note to all TopGifts unused voucher holders that the Creditors Meeting (which you were failed to be advised of) will be held at Wynns Hotel, Lower Abbey Street, Dublin 1 this Friday, 13th May 2011 at 10am.

    As a creditor, you have every right to attend and partake and we would recommend you doing so.


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    #63
    whippet
    Registered Users Posts: 7,672 ✭✭✭whippet


    bumpydog wrote: »
    Just a quick note to all TopGifts unused voucher holders that the Creditors Meeting (which you were failed to be advised of) will be held at Wynns Hotel, Lower Abbey Street, Dublin 1 this Friday, 13th May 2011 at 10am.

    As a creditor, you have every right to attend and partake and we would recommend you doing so.

    Don't expect to get any satisfaction apart from venting a bit of anger .... this meeting will probably make you more annoyed when you realise that after all the other creditors get their cut there will be little or nothing for the unfortunate voucher holders.


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    #64
    shayleon
    Registered Users Posts: 292 ✭✭shayleon


    Hi.

    TopGifts owe me over €800 for services I provided to their clients.

    Is there a point in me going to the creditors meeting tomorrow?

    I live in the west of Ireland and being in the centre of Dublin at 10AM is a serious inconvenience.

    Any feedback would be appreciated.

    Thanks.

    Shay.


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    #65
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    It would do you no harm to go along, if you're owed money, but it probably won't do you any good. No decisions on who gets money back will be made at it, and you will certainly not come away with your money.

    If you are an unsecured creditor of a company that goes under, you are more than likely never getting paid. Once a liquidator is appointed, you can write to them and apply for a refund, but nothing is guaranteed. You may get all, some or none of your money back.


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    #66
    Mightycraic
    Registered Users Posts: 65 ✭✭Mightycraic


    Probably won't come out at tomorrow's meeting, but it'll be interesting to <mod snip>


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    #67
    Mightycraic
    Registered Users Posts: 65 ✭✭Mightycraic


    shayleon wrote: »
    Hi.

    I live in the west of Ireland and being in the centre of Dublin at 10AM is a serious inconvenience.
    .

    Why do you think it's being held there?


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    #68
    shayleon
    Registered Users Posts: 292 ✭✭shayleon


    Mightycraic wrote: »
    €20k each
    ... and I'm the Queen of England


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    #69
    shayleon
    Registered Users Posts: 292 ✭✭shayleon


    jor el wrote: »
    It would do you no harm to go along, if you're owed money, but it probably won't do you any good. No decisions on who gets money back will be made at it, and you will certainly not come away with your money.

    If you are an unsecured creditor of a company that goes under, you are more than likely never getting paid. Once a liquidator is appointed, you can write to them and apply for a refund, but nothing is guaranteed. You may get all, some or none of your money back.
    Thanks for the advice! Appreciated.


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    #70
    bumpydog
    Closed Accounts Posts: 144 ✭✭bumpydog


    shayleon wrote: »
    ... and I'm the Queen of England

    Looking forward to meeting you later in the month, your Majesty!


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    #71
    shayleon
    Registered Users Posts: 292 ✭✭shayleon


    bumpydog wrote: »
    Looking forward to meeting you later in the month, your Majesty!
    Same here bumpy. You are the main reason for my visit!


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    #72
    bumpydog
    Closed Accounts Posts: 144 ✭✭bumpydog


    whippet wrote: »
    >> after all the other creditors get their cut there will be little or nothing for the unfortunate voucher holders.

    What cut? There was no cut for anyone. Paul Daniels couldn't have pulled off the disappearing act that TopGifts orchestrated with their assets/capital. They have claimed that the unclaimed voucher holders account for over €825,000 of the €1.57m unsecured creditors, none of whom likely to receive a cent.


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    #73
    whippet
    Registered Users Posts: 7,672 ✭✭✭whippet


    Welcome to the harsh world of business in recessionary times.

    In the last 8 months 3 of our customers have been liquidated .... Leaving a black hole of about €300k in our bank account. Its horrible but it's the way it works.


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    #74
    bumpydog
    Closed Accounts Posts: 144 ✭✭bumpydog


    whippet wrote: »
    Welcome to the harsh world of business in recessionary times.

    In the last 8 months 3 of our customers have been liquidated .... Leaving a black hole of about €300k in our bank account. Its horrible but it's the way it works.

    But were any of those 3 companies liquidated under fraudulent (allegedly) conditions? The TopGifts situation has got sweet FA to do with recessionary times.


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    #75
    grey rabbits
    Closed Accounts Posts: 10 ✭grey rabbits


    Can any one tell me in reference to vouchers.

    Do you not think that when someone buys a voucher that the supplier should hold the funds in a bonded account and vouchers should stay valid until used?


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    #76
    sit_casper
    Closed Accounts Posts: 10 ✭sit_casper


    was anyone here at the meeting today, any reports??


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    #77
    Hoof_Hearted
    Registered Users Posts: 226 ✭✭Hoof_Hearted


    grey rabbits wrote: »
    Can any one tell me in reference to vouchers.

    Do you not think that when someone buys a voucher that the supplier should hold the funds in a bonded account and vouchers should stay valid until used?

    That's a very good point. It makes me wonder: all the activity providers that have been 'stung' by Topgifts have probably sold vouchers directly to customers themselves. Have they kept a fund to re-imburse those customers in case they have to stop trading? Or will their customers find themselves in the same sorry situation as some of the Topgifts ones? There really should be some kind of bond in place but I don't think there is (I could be wrong though)


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    #78
    bumpydog
    Closed Accounts Posts: 144 ✭✭bumpydog


    sit_casper wrote: »
    was anyone here at the meeting today, any reports??

    Lots of questions - few answers.

    The reason that the voucher holders (over half of the unsecured creditor total at €825,075 - total being €1.573M) were not invited to the meeting was, according to director Jacqueline Taylor, "we weren't sure of who they were, but we did have a ring around." It beggars belief. The fraudulent filing of company returns was an 'oversight'.

    Judging by the huge value of unredeemed vouchers (which they were selling up until the 25th April, the day before the liquidation notice went out!!) you can do the maths yourself to work out how many members of the public were stung.

    Although there is no hope whatsoever of any of the unsecured creditors getting a cent, voucher holders should register their interest with the liquidator:

    Eugene McLaughlin, EML & Associates, Genoa House, 1A Drummartin Road, Dublin 14.

    I am not prepared to go into specific detail as this might prejudice any future legal actions, although I can confirm that a file is being prepared for the ODCE.


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    #79
    Mightycraic
    Registered Users Posts: 65 ✭✭Mightycraic


    Hoof_Hearted wrote: »
    That's a very good point. It makes me wonder: all the activity providers that have been 'stung' by Topgifts have probably sold vouchers directly to customers themselves. Have they kept a fund to re-imburse those customers in case they have to stop trading? Or will their customers find themselves in the same sorry situation as some of the Topgifts ones? There really should be some kind of bond in place but I don't think there is (I could be wrong though)

    It doesn't really answer your question, but the business models of the likes of Top Gifts and the actual service providers are completely different. The Top Gifts model is extremely simple. They take payment, post out a voucher, book that passenger in (sometimes) and pay the supplier. All this takes is some manpower, desks, telephones and, maybe, some advertising and marketing. These costs *should* be adequately covered with the commission they earn on the voucher sales.They do not have to purchase and maintain helicopters, aircraft, rally cars, balloons, racing cars and so on, which require a far larger working capital. I don't have the answer to your question, but I thought I would highlight the above differences, as they might be relevant.


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    #80
    grey rabbits
    Closed Accounts Posts: 10 ✭grey rabbits


    Hoof_Hearted wrote: »
    That's a very good point. It makes me wonder: all the activity providers that have been 'stung' by Topgifts have probably sold vouchers directly to customers themselves. Have they kept a fund to re-imburse those customers in case they have to stop trading? Or will their customers find themselves in the same sorry situation as some of the Topgifts ones? There really should be some kind of bond in place but I don't think there is (I could be wrong though)

    That is a good question? How do find out if our money is in secure accounts in case one off these activities stop trading?


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    #81
    dudara
    Registered Users Posts: 33,519 ✭✭✭✭dudara


    No company which sells gift vouchers "ring fences" the money into separate accounts. There is always an element of risk when buying gift vouchers. The only real way to protect yourself in case anything goes wrong is to purchase using a credit card.


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    #82
    sit_casper
    Closed Accounts Posts: 10 ✭sit_casper


    bumpydog wrote: »
    Lots of questions - few answers.

    The reason that the voucher holders (over half of the unsecured creditor total at €825,075 - total being €1.573M) were not invited to the meeting was, according to director Jacqueline Taylor, "we weren't sure of who they were, but we did have a ring around." It beggars belief. The fraudulent filing of company returns was an 'oversight'.

    Judging by the huge value of unredeemed vouchers (which they were selling up until the 25th April, the day before the liquidation notice went out!!) you can do the maths yourself to work out how many members of the public were stung.

    Although there is no hope whatsoever of any of the unsecured creditors getting a cent, voucher holders should register their interest with the liquidator:

    Eugene McLaughlin, EML & Associates, Genoa House, 1A Drummartin Road, Dublin 14.

    I am not prepared to go into specific detail as this might prejudice any future legal actions, although I can confirm that a file is being prepared for the ODCE.

    Thanks for the update. i cant believe they dont know who the voucher holders are, everythim u rang them and quoted ur voucher number they had all ur details and even if they didnt they have a record of those who purchased the voucher.. such a load of bull. will give it a try with the liquidator but wont hold my breath.


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    #83
    jamesbrond
    Closed Accounts Posts: 132 ✭✭jamesbrond


    Yet another lesson to people.
    Do not pay for anything you dont receive on the spot with Laser cards or any other type of debit card. Credit cards only.


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    #84
    bumpydog
    Closed Accounts Posts: 144 ✭✭bumpydog


    The moderators have decided to remove details pertaining to TopGifts, despite it being information that is in the public domain. Interested parties can download the information themselves from the Companies Registration Office here:

    <SNIP>


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    #85
    dudara
    Registered Users Posts: 33,519 ✭✭✭✭dudara


    Yes, I did decide to remove those details. I don't know what you hoped to achieve by posting them in a public forum. All dealings should be via the company's registered address and liquidator. Contacting an individual at their home adress could be construed as harassment and I will not allow this forum to potentially facilitate such acts.

    It is clear that this is an emotive topic for you, bumpydog, but I strongly advise you to stay levelheaded on the matter.

    dudara


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    #86
    maxer68
    Closed Accounts Posts: 1,076 ✭✭✭maxer68


    From a legal point of view, once a company has gone into liquidaton, the former directors are prohibited from any dealings regarding the company and their positions have effectively been taken over by the liquidator.

    And as Dudara says, any approach to them by anyone can be construed as harrassment and they can have you arrested.

    On the plus side, you do need to make known to the liquidator all your issues and you can make representations to him which he must answer and include in his reports to the ODCE.

    It may take 18-24 months, but you should certainly be looking for a restriction on the directors, possibly even a case for a ban.


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    #87
    Rhalliord
    Closed Accounts Posts: 51 ✭✭Rhalliord


    Just an update on my situation with topgifts.ie
    I got a phonecall from my bank yesterday asking for a copy of the voucher so they could see the expiry date on it. I emailed that into them yesterday evening. This morning when I checked my creditcard balance I saw that the money had been repaid in full to me. I am quite happy with the outcome


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    #88
    redman
    Registered Users Posts: 1,585 ✭✭✭redman


    Cant believe this, just found out after getting email from the liquidator!

    My wife bought me a voucher for my 40th back in Nov 2009 by credit card, the voucher was to 9 March 2011. I got lots of cancelled dates and they confirmed by email this would be extended to June to cover the latest offered dates. It was for a CourseB Rally Session in Waterford.

    Any hope?

    Redman


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    #89
    Kiab
    Closed Accounts Posts: 17 ✭Kiab


    I bought my fiance a christmas present in 2009 of a Top Gifts voucher for ferrari racing in England. The voucher expired in mar 2011 but i did get an email extending his voucher until October as - usual story - "there were no dates available" until late August 2011. This happened at least three times when i went to book him in.

    As per a previous posters advice I sent the letter to Eugene McLaughlin, with a copy of the voucher and the email extending the voucher - not that it will achieve anything, and also submitted all of this and my old credit card statement with AIB and wrote them a letter with all the details and asked for a chargeback procedure.

    Does anyone know will even be allowed have a chargeback as the voucher was technically expired, even though it was their fault and I tried to book before the expiry date and have it on email????


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    #90
    nolanm
    Closed Accounts Posts: 2 ✭nolanm


    I don't really understand alot of the things people are writing on this.. i paid by laser and my voucher is in date for another month. Were do i go from here??? Who do I get in touch with?


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    #91
    maxer68
    Closed Accounts Posts: 1,076 ✭✭✭maxer68


    Kiab wrote: »
    I bought my fiance a christmas present in 2009 of a Top Gifts voucher for ferrari racing in England. The voucher expired in mar 2011 but i did get an email extending his voucher until October as - usual story - "there were no dates available" until late August 2011. This happened at least three times when i went to book him in.

    As per a previous posters advice I sent the letter to Eugene McLaughlin, with a copy of the voucher and the email extending the voucher - not that it will achieve anything, and also submitted all of this and my old credit card statement with AIB and wrote them a letter with all the details and asked for a chargeback procedure.

    Does anyone know will even be allowed have a chargeback as the voucher was technically expired, even though it was their fault and I tried to book before the expiry date and have it on email????

    If the voucher was still valid, even if the original date had passed, then you should get a chargeback
    nolanm wrote: »
    I don't really understand alot of the things people are writing on this.. i paid by laser and my voucher is in date for another month. Were do i go from here??? Who do I get in touch with?


    Sorry, payment by laser is just like paying with cash. You are at the end of the queue for payment by the liquidator and have no chance of any refund.


    For all others - Retailer get charged approx 1.5% of the transaction cost by credit card companies. Visa Debit charge about 30c per transaction whilst Laser charge about 20c.

    A small proportion of the visa debit & credit card fee - about 5c-10c goes toward insurance against things like topgifts. So in effect, you are claiming agaist this insurance.


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