View more on these topics

Mortgage Times given extra time to pay HMRC debt

The Mortgage Times Group was granted a second adjournment today and has until February 17 to pay its undisclosed debt to Revenue & Customs.

Registrar Barber has given the defunct network 14 days to get its administration application in order.

No-one was present from Mortgage Times at today’s hearing at the Royal Courts of Justice in London.

At the previous hearing held last month the court ruled that Mortgage Times had 21 days to pay its debt to R&C.

The court heard that an application to appoint administrators for Mortgage Times had been made on January 12, the day before last month’s court hearing.

R&C had filed a petition to wind up Mortgage Times back in November.

It emerged last month that the Financial Services Authority stripped the network of its regulatory permissions just before Christmas due to a capital shortfall of almost £1m.

Mortgage Strategy also revealed last month that Mortgage Times directors Chris May and Paul Carmody have set up a financial planning and asset management firm called Carmody & May.

The firm’s website was set up in November, just before the collapse of Mortgage Times in December.

Recommended

Analytical disorder grips the market

Evidence of compulsive predictive fallacy syndrome – otherwise known as CPFS – is growing, possibly in response to analysts suffering from post-credit crunch stress disorder (PCCSD). The classic symptom of CPFS is an overwhelming compulsion to produce complicated predictions and forecasts, possibly to compensate for having completely failed to see the credit crunch coming in […]

Who cares?

By Tracey Dickson, marketing consultant There are almost 7 million carers in the UK – that’s around 10 per cent of the population who provide unpaid care for a disabled, seriously ill or older loved one.1 But according to a report from the charity Carers UK, 20 per cent of people providing 50 hours or more of care […]

Newsletter

News and expert analysis straight to your inbox

Sign up
Comments
  • Post a comment
  • salil chaudhari 3rd February 2010 at 8:23 pm

    Maybe their ASS-ETS ought to cover it or maybe something more CONVENIE-NT.

  • G Martin 3rd February 2010 at 6:28 pm

    If MT aren’t offically in administration does this mean I can’t claim jobseekers yet? I don’t want to be called a benefit cheat!!!

  • Chris 3rd February 2010 at 5:47 pm

    I’m waving goodbye to my long overdue proc fees.

    Appauling.

  • H SINGH 3rd February 2010 at 2:42 pm

    An Employee , i thought there were only 2 directors

  • An Empoyee 3rd February 2010 at 2:07 pm

    Not been dismissed, no P45, no pay since November.

    Now, MT not in administration. Does this mean I’m still employed?

    Can we assume the four directors are selling their BTLs to pay off the debts?

  • An Empoyee? 3rd February 2010 at 2:05 pm

    Not been dismissed, no P45, no pay since November.

    Now, MT not in administration. Does this mean I’m still employed?

    Can we assume the four directors are selling their BTLs to pay off the debts?

  • Frank Jurga 3rd February 2010 at 1:12 pm

    The only reason possible for seeking a delay in any HMRC action would be to continue hiding money. Are the Banks asleep again? Surely they would have called in their overdraft by now and got administrators sent in by now. Administrators would see MT are insolvent and swiftly turn their job into liquidators.

  • IOU 3rd February 2010 at 12:52 pm

    How can another delay be justified. The directors win again. Shut them down now

  • NT 3rd February 2010 at 12:27 pm

    So the company still isn’t in administration yet which must mean that it is effectively still open/solvent? Anyone any idea as to the current status?