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Old 29th Jun 2023, 10:22
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Vista Global Founder Thomas Flohr Embroiled In UK Lawsuit

From LinkedIn:

The attached article adds to an expanding narrative concerning Vista Global and their founder, Thomas Flohr.

Yesterday’s article, published by WirtschaftsWoche (a German publication) considers a lawsuit that has been filed by Frontier Capital, who are alleging that Vista Global’s founder, Thomas Flohr, is guilty of breach of contract. The complaint demands payment of €58 million (approximately $63.5 million at today’s exchange rate).

The article (English translation attached) suggests that some of the income enjoyed by Mr. Flohr is owed to the plaintiff, Frontiers Capital, under the terms of a contract that was agreed between Frontier Capital’s then Managing Director, Timothy Horlick, and Thomas Flohr. More disturbingly, the complaint alleges that Mr. Flohr went to considerable lengths to divert proceeds from business dealings into entities that were created using similar names to companies that were legitimately involved with business dealings involving the plaintiff and the defendant.

If these accusations are proven to be correct, they point to a seemingly sophisticated plan to deceive business partners. Of course, there is always a presumption of innocence, in London’s High Court. Further, Mr. Flohr, through his lawyers, has insisted that the claims are “inaccurate and the claims made are obviously unfounded”.

Taking a step back, we are seeing a steady accretion of published articles, in the Financial Times and two articles in WirtschaftsWoche, concerning Vista Global and Thomas Flohr. Indeed, several of my own LinkedIn posts have highlighted longstanding concerns about the viability of VistaJet’s business model. It’s difficult not to surmise that smoke frequently foreshadows fire!

We could be witnessing the beginnings of a media feeding frenzy, involving Vista Global and their founder. Journalists appear to be focusing on two subjects, for now. Firstly, Thomas Flohr and his involvement with past and current businesses (Comdisco, Comprendium, Vista Global). Secondly, the financial fortunes of Vista Global, a company that appears to be weighed-down by high levels of debt, rising interest expenses, mounting liabilities associated with unsecured service pre-payments and a charter market in which flight hours and hourly revenues are facing downward pressure.

In addition to monitoring the progress of this lawsuit, I will continue to monitor the media for additional stories concerning Vista Global, their founder and the subsidiaries they own.
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Old 13th Jul 2023, 08:15
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from linkedIn: Vista Global, Thomas Flohr, A Nigerian Businessman & A Los Angeles Mansion (Wirtschafts Woche)

The attached article offers additional “insights” into Vista Global’s founder, Thomas Flohr (TF).

This article highlights a business relationship between TF and a Nigerian businessman, Kolawole Akanni Aluko (KA). It would seem that a verbal agreement between TF and KA resulted in the Nigerian businessman flying on the VistaJet fleet, apparently in return for a luxurious property, in Los Angeles. To be clear, counter-trade isn’t uncommon. However, in this case, there were intermediary companies involved, in addition to KA, whose reputation has been called into question. Further, this transaction attracted the attention of the FBI, who expressed “concerns” about an “international conspiracy” and “illegal activity” surrounding this property.

As far as I can determine, KA was provided with unfettered access to a Global 6000 that was reportedly controlled by a TF-owned company, Ness Trading & Invest. Curiously, according to the WirtschaftsWoche report, this company doesn’t appear to own or manage any aircraft. Nevertheless, KA was allowed to fly millions of dollars worth of hours onboard VistaJet aircraft.

As flight hours, and the associated costs, accumulated, TF and KA agreed that a property would be transferred to a TF-owned company, as payment for the flights. Again, nothing appears to be improper.

The story takes several unexpected turns. Firstly, the Nigerian businessman has become embroiled in accusations of wrongdoing, involving Nigerian oil. The FBI also suspected that something was amiss, and attempted to repossess the Los Angeles property, alleging that the purchase transaction fell short of being entirely legal.

Eventually, TF agreed to a settlement, paying the US government $16 million in return for the FBI dropping their lawsuit. Unanswered questions remain. Did TF's company, Ness Trading & Invest, actually own or manage a Global 6000? If not, were VistaJet compensated for the tens of millions of dollars in flight services they provided, to KA. If not, I could see several parties, including the IRS, taking an interest in this arrangement, though I am by no means an expert on such matters.

I recently published a post reporting a UK lawsuit that was filed against Thomas Flohr. Here’s my overarching concern. Vista Global depend upon their reputation when dealing with corporations and the high net-worth community. When suggestions of impropriety emerge, they call into question the reputation of Vista Global’s founder and high-profile CEO. In a market where customers are making six and seven figure unsecured pre-payments, reputation is a potent commodity.

My hope is that we won’t be seeing further reports that cast aspersions at TF and his business practices…and that the existing rumors, mentioned in both these reports, prove to be unfounded.

My former marketing professor once offered a marketing axiom:

“Those who live by PR often die by PR!”.
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Old 13th Jul 2023, 12:26
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It is an old story that one….
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Old 19th Jul 2023, 10:37
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Originally Posted by ginopino
It is an old story that one….
It may be an old story - but it´s an interesting one, and so is it going to be, observing the next "steps".
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Old 6th Nov 2023, 17:16
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Hi , could you please be so kind to send me some info about the sim session in Berlin please?
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Old 7th Nov 2023, 09:42
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Originally Posted by JulsPt23
Hi , could you please be so kind to send me some info about the sim session in Berlin please?
Check this post and few posts below. Cheers!
Click here: Vistajet Future
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Old 17th Nov 2023, 19:29
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Thomas Flohr: Schlappe vor Gericht für den Privatjet-König (

A defeat in court for the private jet king
by Volker ter Haseborg
November 13, 2023
Private jet king Thomas Flohr Source: Bloomberg
Private jet king Thomas Flohr

Picture: Bloomberg
Thomas Flohr wanted to have a fraud claim dismissed - but the London judge refused for the time being. Now the trial continues. A former business associate is demanding 58 million euros from the Vistajet boss.

VistaJet owner Thomas Flohr loses a bid to strike out historic legal claim

Guernsey investment partnership alleges fraud two decades ago before entrepreneur launched luxury airline

Thomas Flohr, owner of luxury airline VistaJet, must continue to fight an attempt to claim that he defrauded a Guernsey investment partnership two decades ago after London’s High Court refused to dismiss the current breach of contract case against him. Flohr, who denies the allegations, had tried to have the case thrown out on technical grounds related to the circumstances of the case, in which a previously dissolved partnership was resurrected in 2021 in order to file the suit. Frontiers Capital initially sued for breach of contract in 2021 but filed an amended claim in December last year, alleging deceit, claiming that a source of the Swiss entrepreneur’s fortune involved “fraudulent misrepresentation” in which he “set up, controlled, and kept hidden from [the investment partnership] a parallel structure” of companies. The court has not yet ruled on whether the claim can be amended in this way, or the substance of the case. Flohr has opposed the amendment. A further hearing is scheduled for March 6 to 8 next year. In advance of this, further summary judgment and strike out arguments will be heard on whether Frontiers Capital has the authority to bring the claim, which may lead to the case being thrown out. The legal setback comes as Flohr faces questions over his debt-laden airline and about hundreds of millions of dollars of payments made by Vista to a separate Flohr-owned entity as it built one of the world’s largest fleets of private jets. The civil suit is spearheaded by the investor Timothy Horlick who oversaw the Guernsey partnership, Frontiers Capital, which in 2002 invested £7.5mn in a UK document management business chaired by Flohr called Comprendium. According to the judgment, which was published on Monday, Frontiers Capital alleges that “in breach of duty, Mr Flohr caused a series of other companies containing the name Comprendium to be incorporated”. Frontiers is seeking damages and costs. Frontiers’ amended claim alleges that Flohr secretly used these parallel companies in Switzerland and Germany to buy assets from his bankrupt former employer, the US IT equipment leasing group Comdisco, in breach of his duties to Comprendium UK and “in one instance for a profit of €93mn”. Frontiers Capital also claims that Flohr reneged on an assurance to Horlick that if he bought certain Comdisco assets “he would secure revenue for Comprendium UK of between €10mn and €20mn per annum”. Comprendium UK eventually failed and Frontiers Capital was dissolved in 2010, losing its investment and a further £5mn lent to the company. While such civil claims must usually be filed within six years, the claimant alleges that critical elements were “deliberately concealed” by Flohr, meaning the clock did not start until the partnership was resurrected. Monday’s judgment, by Master James Brightwell, said “it would be an understatement to say that the defendant strenuously denies the allegation”, and that the decision to proceed was concerned with technical aspects of law regarding the way the partnership was dissolved. The judgment said that at a “fractious hearing” in July, the High Court also considered questions of confidentiality “in respect of allegations said to be both scandalous and irrelevant” by the defence. After Comprendium failed, Flohr went on to build an airline with the world’s fastest business jets and a super-rich clientele. VistaJet also has more than $4bn of debt, and auditor EY warned in its opinion on the 2022 accounts that “a material uncertainty exists that may cast significant doubt on the group’s ability to continue as a going concern”. Flohr responded to that opinion by saying the business was highly profitable on the basis of earnings before interest, tax, depreciation and amortisation; that net losses were a consequence of conservative accounting of non-cash items such as depreciation; and pointed to the group’s ability to raise a new $500mn bond from investors as a sign of their confidence. This article has been revised to clarify details regarding the court’s judgment.

VistaJet owner Thomas Flohr loses a bid to strike out historic legal claim (
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