News: FOY Foy Group appoints Stuart Clark as managing director, page-24

Sorry guys a bit late again on this one again – my my my what have we here caught jezwozhere. I have spent the last couple of hours trying to convince myself of the slightest of credence to your inference that the current FOY executive are a bunch of crooks based on your interpretation of a sequence of events in the past. From the bible of google and company extracts, ASIC searches and voluntary administrators reports I have managed to cobble something together.

The Bidco was a company called OBEX which purchased the Dickson & Dickson Group -Paul Dickson was not a director of the Bidco and sold almost 12 months before the company went into Administration etc.

This is the biggy “the Bidco” was controlled and funded by The Growth Fund who in turn was controlled and owned by Archer capital one of Australia’s largest Private Equity Firms. Surely with the size and corporate expertise within Archer they would have conducted a thorough and extensive due diligence prior to acquisition to the D & D Group considering the funds you jezwozhere have posted were involved.

As I have said I have only spent a few hours on this and one thing that jumped out at me is that in one of Administrators reports (Ferriers) they were forced to STATE that they could not support or verify the restated financial reports prepared by THE BIDCO and its management etc, in essence a retraction to the correctness & veracity of the Bidcos claims. You should also dig deeper into ASIC and D&D reporting, D&D was not a Pty Ltd company but was a “Limited” company and had to be externally audited quarterly and was done so for the 3 years prior to being purchased by Bidco.

I agree with benon25 you have linked what appears to be a Administrators preliminary report which is not a thorough review of the companies affairs.

Jezwozhere lastly what has also prompted my interest is that you are not a regular commentator on hotcopper and the only posts you have made are your two on FOY – sounds very very suspicious to me mate.

I can’t spend any more time on this today, however more to come I suggest.