18greens
11th Oct 2001, 13:10
Are Euroshares involved in the receivership of EF?
If so do the current owners get their money back? I understood there are about 100 euroshare members.
Monty Nivo
12th Oct 2001, 14:21
As has been highlighted elsewhere by our Northern chum, Euroshare was always a 'scheme', and a pretty dastardly one if you ask me.
It strikes me that it was a means of getting cash flowing into a company in trouble without giving much away in return. Sadly, what little was given away in return had a longer-term impact upon profitability, and I guess that this was part of the problem.
Bearing in mind the way in which it was sold, I have a feeling that a good lawyer could get something out of it for you, if the company was still trading. The very use of the word 'share' strongly suggests something which was never part of the scheme.
As I see it, you lined the company's pockets in return for lower rental rates with the possibility that you might get your capital back providing all went well. All didn't go well, so you've lost it. If you didn't spot this when you went in, then it's a lesson well learnt.