Good Evening,
Loss is not simply incurred just by trading; loss can also be introduced to the books by assets losing value against a fixed mortgage.
If you have a $900,000 mortgage on an aircraft valued at $800,000 you have a problem, however, if in year 2 the asset increases with market fluctuation you may be lucky to be in quite a different situation.
I have never stated that by selling two citations we reached figures to invest solely on those assets, or the third aircraft. I have stated that there were sizable profits made, I also ran other companies with partners in other industries, and one was property.
I am not here to justify were I made money from, I would not expect others to either.
I am stating, that allegations that I took “millions” form BlueStream could not be further from the truth.
That is wrong, and at the bankruptcy hearing it will clearly show the monies that I have put into the company, the largest sum alone is $685,000 from Oklahoma.
I paid two months worth of salaries and credit cards payments also.
I also paid for vehicles for the company.
It would be important to point out, that I have also received letters from Barclays Bank calling in my personal guarantee on the overdraft of £150,000 which was left unchanged since my departure.
Bluestream never replaced the joint guarantee I had with David Williams, and yet people claim I took money from BlueStream Aviation? Why?
I really don’t feel the need to start publishing my land line number, and full address on this website. What difference does it make where I live at present?
If there is a genuine reason for me to let the whole public forum know where I live and my number I will listen, you write as if I am trying to hide something, but surely with my name being slurred by some in the public domain of Pprune, I have the right to a little privacy?
I have had an awful time over the past 9 months and have tried to remain calm, and not react.
I have had a lot of people tell me that my replacement Accountable Manager, Paul Munro, has spread the word that I am facing a prison sentence, that CPS want me, that I have fled the country.
This is hurtful and serves what purpose? Why would someone say this?
I go to court; that is true, I try my hardest to present facts and withhold opinion thats true, but that is the end of it.
Going into the inner workings of tax, and structure of LLP vs Ltd companies was not really the purpose of the exercise. Even top accountants in London disagree on write downs, and sideways relief, a loss transfer, why should we discuss this on Pprune?
BlueStream could of worked, there is no doubt that the big “R” has an effect, however to lodge the blame firmly with myself, I feel, is unjust.
I have listed all the decisions I did not make, the decisions which I will always feel aided the struggle towards success.
I was told, that if I kept out the industry while the case was going on, if I remained out of contact of my staff, If I spoke to those close to me they would be dragged in, that if I so much as spoke about this case I would be in more” trouble”, looking back it was made by party of loudmouths and not reasonable people.
I honoured that agreement.
Paul Munro then spends time telling brokers and operators that I am going to prison, that I have taken money from BlueStream Aviation, amongst other claims.
My family have been bought into this, with terrible consequences. I still honoured the agreement.
I came on here because I can’t allow people to carry on thinking I did anything wrong to BlueStream Aviation, I did my best, I have made mistakes, some small some possibly large.
That said my intention was always the best for the company I founded in November 2000 at the age of 19 years old.
Since then and up until this court case nonsense, I have spent every day, thinking, trying, and determined to make it work.
In answer to “PT wind’s” comment, I find this a little strange. Do you not think that Bank Statements and escrow records have to be used in court? Or do you think we rely on memory of what people had?
I find it often strange the bizarre “posts” that pop up. We have full bank details of both sides, and we are working through.
Please don’t misunderstand me, I want to give a full answer, I am stopping myself typing what I really want to shout out, however, I have to honour the private life of the claimant even though the same quarter has not been honoured to me.
It is absolutely wrong of me to start to list these amounts, what I will say is important: Both Claimant and Defendant benefitted almost equally.
The Claimant is not BlueStream Aviation.
In four weeks the situation will be quite different.
My aim was to answer to the Staff, they are owed an in depth factual brief on why/when/how. I can’t speak for the final 9 months I was not there, but I know a lot of facts which took place.
I am tired of false allegations, statements, wild remarks, I sometimes look at Pprune and think “why” but more often than not I think I know who is writing them and can’t understand why?
I was honestly made to feel that no communication would help, all it helped was those who had a plan; they had a plan 5 months before I resigned, and 9 months after.
With the tax discussion out the way, and the request for me to publish my residence and contact details I feel I have answered the question.
Kind Regards,
John Matthews