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Bluestream Ceases trading?

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Old 9th Apr 2009, 12:01
  #81 (permalink)  
 
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Wow, $2,000,000 from a couple of citations. I guess the tax man was really happy about his bonanza from you
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Old 9th Apr 2009, 12:39
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I will answer that question, but it will be in a generic format, rather then discuss the particulars on internal accounting practices of BlueStream Aviation, it would not be impartial to those who are dealing with the appointed Administrators at this present time.
In making profits on the sale of aircraft owned, one can offset profits made by previous year losses.
That is to say, if the limited company incurs a trading loss in the years paying off the mortgage, but in the preceding year produces a sizeable profit form sale, there where tax rules in place (check HMRC website for further details on offsetting) to offset profits from loss, and vice versa.
Please also bear in mind the use of LLP vehicles which were used for ownership, both on and around the dates of purchase and sale of the assets in question.
If the money was made in the first year of trading you may well have a well-founded point.
It was not.
Regards,
John Matthews
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Old 9th Apr 2009, 15:07
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tax

It does not add up. For instance if you make a million loss in year one and a 1/2 million profit in years 2 and 3 ergo no net profit and no tax. Also the simple maths says that there is no money in the kitty to invest. Investment money has to come from taxable profit or a pile of cash from another source.
Another interesting point is where axactly are you at the moment? A simple address land telephone number would do. As you are, quiet rightly, trying to clear your name from all the horrible things said about you, you will obviously not mind publishing this information on this web site.
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Old 9th Apr 2009, 15:35
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So, JM, in this spirit of openness and transparency, to defend your character, you said:

"It is true commissions were earned. They were earned by the intermediate parties and directors of BlueStream including the claimant’s company also."
How many intermediate parties in the UK (outside BS) took commissions, and does MP know all their names and amounts?
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Old 9th Apr 2009, 18:22
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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
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Old 14th Apr 2009, 21:55
  #86 (permalink)  
 
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I have been asked by many about “JohnM09”.
I wish to clarify that the posting “JohnM09” is not mine, nor do I have any association with it.
He quotes:
[FONT='Verdana','sans-serif']“As far as i know the second MAS co was originally setup as Bluestream to hold the compnay name while John sorted out all the transfers within the CAA, this allowed the recruitment/expansion process to start under the Bluestream name”[/FONT]
This is not accepted.
I had an arrangement with the assigned Flight Operations Inspector to label ourselves BlueStream Aviation, even when the certificates where in the name of M.A.S Airways Ltd.
We had the same company number, so in legal terms there was no need to set up a second company. In affect I made the decision to “trade as” BlueStream Aviation.
Secondly, if there was a necessity to set up a second M.A.S Airways Ltd,I would be involved, without a shadow of doubt.
I was the founder of M.A.S Airways, the Managing Director, and the Accountable Manager, if it became mandatory for a second company to match its identity I would of made absolutely sure I was a director, shareholder, or at the very minimum held some sort of controlling role for the second M.A.S Airways Ltd.
I was not a shareholder, nor was I director and furthermore, I never held a position of authority in that company.
Anyway, I was sending in Manuals to S.R.G as “BlueStream” with a “M.A.S Airways” A.O.C
I did not set up this company, I did not run this company, I did not have anything to do with this company.
I hope that part is very clear, as I have been asked a lot of questions over this company that I just can’t answer, because I don’t know anything about it.
He Quotes:
[FONT='Verdana','sans-serif']“JM did leave the compnay last year under varying speculative circumstances which are all in the past. When he left, the company wasn't in the best of health but everyone in the company tried their best to sort it out. Presumably the Economic climate really didn't help matters and it obviously became too much to sort.”[/FONT]
1. Yes when I left (or resigned) we had start ups costs to settle, but as I have stated they were not coming in anymore, that is why I was paying them in as a Directors loan.
2. These should have been presented and paid, as I was setting out to do.
3. “Everyone did their best to sort it out” I would seriously question some of decisions that were made and mainly ask why some were not, I will come to this point later.
4. “Presumably” ?? I would say that the largest recession that has hit this country, the European Market, and the entire global financial structure requires a more standing comment then “Presumably”.
5. That said, there is still no excuse, other Challenger operators are flying, are successful, and are coping. When hard times hits you might consider:
A. Gathering managers and/or head of departments for feedback on their areas within the business, and thoughts on their ideas and worries. This should be minutes of this and sent to all directors.
B. Meeting with the bank to discuss the fact that there may be some water taken on, but a plan is in motion.
C. See if the mortgage can be stretched slightly or request one holiday payment, just one would have a huge difference on the year. Meet with the mortgage provider and see if one quarter the company can pay interest only, not the capital, remember they held a personal guarantee.
D. Make an active plan, followed almost daily for getting a worldwide AOC.
E. Rent out company properties at best rate possible.
F. Hold a Directors meeting, establish the main areas of costing savings, and discuss the main possibly of increasing sales / revenue.
G. Call a meeting with the staff and present the plan for the future, see that they are all aware of the problem in hand and furthermore, ask them for the feedback down route, that’s where you can lose money. They are your eyes and ears.
H. See you customers, and find the rate you need to hit at.
I. If you can’t reach it take into account a pay cut, if you do this lead from the top, example: 10% for Directors, 7% Managers, 5% for Staff. Let them see your leading the way in all ways.
J. Most of all keep communication at a high level, the staff need to feel that they play a role, their observations are respected, and that their managers have a plan and it will work. The managers need to feel that they have the plan form the directors and it will work. Communication will increase confidence which has a direct affect on performance.
K. Look at whether cancelling the hot base theory was the best idea, try to introduce it
L. Discuss whether basing aircraft at Moscow, with six crew members in hotels each night, per diems, costs, taxi, parking, phone calls, without any contract or even someone paying the increased overheads, is a good idea?
From what I have heard there seems to be little evidence of any such activity. It frustrates me when people have been told “JM this” and “JM that”, with respect to the company, I did not cause the downfall, and more to the point I did not fail to achieve any of the points above.




He quotes:
[FONT='Verdana','sans-serif']“Bluestream is gone now and i am sure everyone involved is sad that it didn't continue, but heh these things happen. We can all point fingers and come to many conclusions as to what has happened, will we ever know the whole story, probably not. It seems simple to me but as long as you all keep these posts going you are going to make my very happy everynight I sit down a read the stories.

John”[/FONT]


[FONT='Verdana','sans-serif']First of all, “heh these things happen” is not a comment that reflects what has actually happened. Do these things “happen” in a company?[/FONT]
[FONT='Verdana','sans-serif'][/FONT]
[FONT='Verdana','sans-serif']A. [/FONT][FONT='Verdana','sans-serif']Staff told that they will “be ok” and continue working?[/FONT]
[FONT='Verdana','sans-serif']B. [/FONT][FONT='Verdana','sans-serif']Staff told to use their own personal credit card, when the board knows they will not get paid?[/FONT]
[FONT='Verdana','sans-serif']C. [/FONT][FONT='Verdana','sans-serif']To not hold one management meeting in 9 months?[/FONT]
[FONT='Verdana','sans-serif']D. [/FONT][FONT='Verdana','sans-serif']To tell people that they will get paid, then disappear from the radar and avoid contact.[/FONT]
[FONT='Verdana','sans-serif']E. [/FONT][FONT='Verdana','sans-serif']To top it all, hand select you favourites, ensure they fly all the time when it could be shared with a degree of honour, surely 9 people earning 150-300 GBP a day, for one day a week is better than 3 flying every other day without any thought for the families who are suffering?[/FONT]
[FONT='Verdana','sans-serif'][/FONT]
[FONT='Verdana','sans-serif']Secondly, how could anyone be “happy” to read of this mess and sorrow, how could anybody enjoy this?[/FONT]
[FONT='Verdana','sans-serif'][/FONT]
[FONT='Verdana','sans-serif']With regards to this being “simple”, this is faraway from the region of simplicity, this is a complicated and well thought through plan which was put into place with some dreadful effects.[/FONT]
[FONT='Verdana','sans-serif'][/FONT]
[FONT='Verdana','sans-serif']I concur with the suggestion that this is someone who remained on in a very senior role, now writing as “JohnM09”.[/FONT]
[FONT='Verdana','sans-serif'][/FONT]
[FONT='Verdana','sans-serif']So to answer the private messages, I have had no participation with the second company and I too feel that claims of this being “simple” are folly, just like statements signifying that everything was done that could be that is not accepted at all, not by the staff, the people who are owed money, and the people who have been told to use their personal money and have been given false promises.[/FONT]
[FONT='Verdana','sans-serif'][/FONT]
[FONT='Verdana','sans-serif']I believe that answers the questions on the second company.[/FONT]
[FONT='Verdana','sans-serif'][/FONT]
[FONT='Verdana','sans-serif']Thank you,[/FONT]
[FONT='Verdana','sans-serif'][/FONT]
[FONT='Verdana','sans-serif']Kindest Regards,[/FONT]
[FONT='Verdana','sans-serif'][/FONT]
[FONT='Verdana','sans-serif'][/FONT]
[FONT='Verdana','sans-serif']John Matthews [/FONT]
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Old 15th Apr 2009, 18:06
  #87 (permalink)  
 
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Nice to hear from you again Mr Matthews.
Miss the Blue Cross sales. hope your keeping well, but bet your gald to be away from PIP.
No matter what people think or say we always got on well so i hope your well.
Chin up mate..
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Old 16th Apr 2009, 11:18
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Thank you very much.
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Old 16th Apr 2009, 12:01
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Hi John,

I hope you are well.

So what is the status of your Court case? On 25th Jan, "PPRuNe Towers" stated the judgement went against you:-

"It comprehensively flattens John Matthews in each and every respect, judgement awarded against him as are costs and leave to appeal denied".

Wiggy.
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Old 16th Apr 2009, 13:51
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Good Afternoon,
I have had better times.
I am puzzled at the posting of my supposed loss.
This is not correct. Legal activity between both respective parties is current and ongoing.
Things have slowed down considerably, so there is nothing to really convey or state at this present moment.
I am at a complete loss how someone has the gall to state “comprehensively flattens JM”.
1. There was not even a transcript of the only hearing that the said master attended.
2. Leave for appeal was never denied.
I can’t understand how someone could possibly have misread the one page document issued on the 5th December 2008 any different.
I am informed however, that some of the remaining directors / officials / ex fleet chief have been actively notifying people that I have lost, but this could not be further from the truth.
I really don’t understand why anyone would say to former employees that I have lost?
Surely the story would be proved wrong eventually?
Kindest Regards,

John Matthews
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Old 16th Apr 2009, 15:01
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Well well Mr Matthews has crawled out from under his stone.
I wonder if the other directors are brave enough to crawl out from under there's.
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Old 17th Apr 2009, 10:28
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Good Morning.
I wish to clarify one point I feel is necessary.
The only reason I have remained out of communication was due to the numerous phone calls I received, from the remaining directors and other associated parties, stating that I would effect a member of staff’s job if I spoke to them.
It took me some time to get a legal counsel and put all of this sheer nonsense in perspective.
Obviously I had friendships with my staff also, however, I had to remain out of communication because I was told that they would be dragged into this and become affected.
It was not until I got back on track, and working with my lawyers I realised this was not an accurate statement at all.
I would also like to point out that I have all the time been a shareholder of the company right up to administration.
Sitting back and watching various decisions being made, and more to the point many not being made was arduous and challenging.
That is the reason I have been absent, it was to protect anyone from being target of a continuous state of nervousness in which my replacements functioned, which could have resulted in drastic action to protect their obtained positions.
However, on reflection it also allowed many stories to be told by my replacement staff.
It gave Paul Munro a complete open hand to state I have stolen money from BlueStream Aviation, which is not true.
For Paul to state to customers and staff on a regular basis that I have never seen the chairman or only twice...how on earth could that be?
For Paul to state that the C.P.S wants me, I have skipped court twice, and at times I have fled the country. These are lies, told on purpose to try and actively devastate me. Statements given will now
Two of the operations staff joined this programme, slightly understandable (at a push) because they were fortunate to have employment and needed Paul’s support, obviously at a price.
I am at a loss as to why this course of action was taken, especially when it was not the agreement that was made, however when I look back to the way certain individuals came to power I am less shocked.
But for Paul Munro to actively state these things about me within the industry is absolutely absurd.
After I pulled myself together I made a statement against this action as it was terrible, I received a text from Paul Munro, referring to a statement which I am using as evidence, however one section reads:

Sent: 14-01-2009 15:17:42
“John, its Paul Munro, I am disappointed .....(section referring to legal action) I wouldn’t be so concerned, but I have gone out of my way not to dirty your name or to criticise you in public or to others in the industry despite what has happened I enjoyed your company and felt we had a friendship over a year or so. I was genuinely concerned that you are ok and have not made that a secret within the company during this difficult time, you need not reply, but perhaps you should remember that”
This is absolutely conflicting to many reports I have received throughout the nine months that Paul Munro ran BlueStream Aviation from my departure to Administration which took slightly less than one year.
I hope in this, I have also answered the reason I have been out of communication; in short, I did not want to bring anyone in on this. Now I realise it was all frightening tactics, which only partially worked.
As for the question on LGW, I have no involvement.
Kindest Regards


John Matthews
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Old 17th Apr 2009, 10:51
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Reply

Mate well done for having the guts to come on here and try to answer everyones questions.
MAS was a great company, things suffered with the challengers but i hope one day your back in aviation in a set up like MAS with a few small jets as we miss a company like that.
I always enjoyed our meetings and chats and there are not enough people in the market that "Tell it how it is".
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Old 17th Apr 2009, 13:42
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Thanks very much, that is nice to hear.
All the very best to you and your colleagues.
Kindest Regards,

John Matthews
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Old 17th Apr 2009, 21:37
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Well Done

Fair play to Mr Matthews at least it seems he has some B******S unlike the rest, all anybody wants is the truth but it seems some are incapable of that?

Last edited by spraydog; 21st Apr 2009 at 10:47.
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Old 21st Apr 2009, 15:18
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“John, its Paul Munro, I am disappointed I wouldn’t be so concerned, but I have gone out of my way not to dirty your name or to criticise you in public or to others in the industry"

This is the first thing he did the day after Mr Matthews left.

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Old 22nd Apr 2009, 10:21
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Creditors Meeting

Allegedly there is a creditors meeting on the 6th May, should be interesting.
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Old 23rd Apr 2009, 10:13
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Thats rich coming from you and SiverShark all you 2 did was slag JM off, you should think before you write thing on here.
There a lot people could say about you two, grow up and get a life if this site is all you have you are both as said as I thought you were when I used to fly for BS.
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Old 23rd Apr 2009, 12:18
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I would say your time is definitely ticking.
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Old 23rd Apr 2009, 17:14
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Same old same old good at giving it out but not too good at hearing the truth back. The fact is you spent most of the day saying thing behind people backs and JM was at the top of your list. So please don’t start trying to say you are JM best mate. Am only glad my office was the flight deck hat off to the op’s team. We all know who you and sivershark are so please do us all a fav. And crawl back under your rock.
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