East Anglian Air Ambulance temporarily grounded/Longmint status

[Whirlygig]

The shareholders are, quite rightly, at the very bottom of the list of who gets paid out when a company is dissolved. Everyone else has to be paid first.

There is only one shareholder in Sterling Helicopters Ltd; Longmint Aviation Ltd. Longmint Aviation is majority owned by Longmint Group Ltd (there is a minority individual shareholder) and Longmint Group Ltd is owned by the Triumvirate of BBC.

Whilst my Dun & Bradstreet account is on overload at the moment, I also note that Longmint's Statutory Accounts are overdue as is the Annual Return so they are also racking up fines at Companies House. That Company Secretary must be on the ball eh?

Cheers

Whirls

[996]

Thank you Whirls

[ExMAGE]

I suppose the next questions are; what happens next and how long does this all take.

I am surprised that this news hasn't hit anywhere but here, whereas the Von Essen news is in many places.

[996]

ExMage, its on Helihub but no where else obvious. Guess the reality is that it is probably perceived as just another company going to the wall. The reality of all that has preceeded this and the 'peculiar circumstances' are I'd imagine, unknown to the vast majority.

[fluffy853]

So what's next for MAGE?
Who has been appointed administrators or receivers?
What is the differance?
Are the cummings family still in control of the company?

How did the meeting with the staff and the administrators/receivers go, today, anybody know?

[ExMAGE]

996

Thanks, I did see the information about Sterling, but I have yet to see anything about similar action at Fairoaks.

AC

The Court has sent Receivers into MAGE (today I think) who are now in control of the company. I suppose they'll want to know where all the money's gone eh!

Where did you get this info?

I am obviously not a fan of the Longmint organisation, but would not want misinformation spread about either.

I know this is a rumour network but some things shoud be substantiated. I am sure you are correct, if not now in the future, but would like to see a reference.

[Ackers Caffer]

EM

I don't believe that I've spread any misinformation on this site and wouldn't dream of doing so. Sorry but I don't have a link to point you to at the moment - all I can offer is 'reliable sources.'

By way of substantiation, employees at MAGE were informed today that the Administrators are in.

Watch this space.

[996]

Recovery plan?? MAGE has a chance but only a slim chance and that entirely based upon past reputation. Unfortunately, whilst associated with the BBC and their total and utter ineptitude, any plan is doomed to fail simply becuse their reputation [BBC] is currently un-paralleled in failure. To such an extent that since the mid 1970's they have never managed to avoid failure in all they are associated with. It is to such an extent that you could be forgiven for thinking that it is all by design however that fanciful notion is belied by the fact that that in itself would require the skills that they clearly do not have.

I forecast that there is more to come and eventualy there will be no LMA at all.

[Independent Observer]

996 - I think your post is well-sighted. As a newcomer, I put that idea forward several weeks ago but, as it was my first post, it didn't pass the Moderator. However, the events which have unfolded have supported my theory throughout. From the point when BBC/LMA started buying the companies involved in this group, it was with a view to bidding for the SAR(H) contract. Once it was discovered that they didn't get past first muster, everything else became a millstone round their necks and no effort was spared in starving the various operators within the group of funds, hence their downfall one by one. Instead of considering the Triumvirate inept, I think that their actions have been part of a master plan and nothing, but nothing, will stop them until it's over. TAMS, Sterling, MAGE have all gone and are now part of history. The guys/guyesses at FAST must be wondering when the sword will fall on them.

[chevvron]

MAGE hasn't gone yet nor has AMH.

[wigglyamp]

There's nothing on Companies House to suggest MAGE or AMH are in receivership - can someone confirm that they are, and who are the apponted administrators?

[oldetonian]

interesting thread. Nothing new how a company is run, although i would suspect that the profitable parts of the business will keep going or could they be sold and who could be possible buyers??

[996]

Independent Observer - Instead of considering the Triumvirate inept, I think that their actions have been part of a master plan

Surely you are not suggesting that BBC are other than inept? Based upon what? A half assed notion that by buying a conglomeration of companies in an effort to be the largest on shore operator in the UK - hoping that would alone place them in the running?

I am familiar with those companies and individually there is not a one with the capacity to enter the SAR arena, together even less of a chance. What of BBC/LMA? There is absolutely no administrative structure to support itself correctly let alone a grand notion of SAR.

That one concept alone should have warned everyone that this was going to end in tears. BBC were never and never will be, equipped for such a lofty venture, their past history alone specifies that.

[jonwilson]

SAR(H)

I would like to meet the chap or chapess who old them 'buy all these companies and you would be in the running to bid for the SAR(H) contract'.

Either that was a joke or somebody does not have a clue about the Search and Rescue concept.

What were they hoping to bid with, R44's!

[Ackers Caffer]

996

Hear! Hear!

Unfortunately, I too am familiar with these companies and am looking forward now with great excitement to their impending and unavoidable demise.

I think that BBC should be enlarged though - to BBCC, so that their insufferable little brother is included.

The High Court appointed Receiver has been at MAGE for over a week now - management have even admitted this to some of their staff! I suppose it will be another couple of weeks before they report back to the Court and the Administrator is sent in. Sadly though, a sale would be unlikely; notwithstanding the irreparable damage BBCC/LMA have done to the good names of Sterling, Mann Aviation and Alan Mann; due diligence into such a can of worms would take forever!

"he who sups with the Devil should have a long spoon!"

[fluffy853]

Guess longmint have in a way got what,they reported were after, search and rescue, but by the receivers/administrators.
Search through the accounts and rescue the company if at all possible.

[996]

Fluf, its very hard to see any decent outcome when reputations have been damaged, contracts lost and probably money not where it ought to be. Thats not taking into account the severe lack of personnel of the right quals. I do not think anyone in their right mind would apply for a vacancy under the circumstances. Of course someone might take a risk and buy but there are few with the industry nouse and spare capacity to do so. But you never know.

[fluffy853]

996, your probably right.

Rumour has it that after key people (in lower management, qualified and skilled) left by redundancy, sackings and of their own accord, they were replaced by contractors, who probably charged a lot because of the risk factor, because of the state the company was/is in.


What has the MAGE got as assests?
Once reputation, contracts and customers have gone/going, whats left?

[theloudone]

fluffy853

Maybe, just maybe, you guys should get the real facts !
The thread is getting boring and inaccurate. I KNOW the management at the cole face are doing a cracking job, FACT.
Just because the "onwers" are not that professional, why knock the supporting management, and of course you know for sure the lower management are contract staff ????

[Rigga]

It is, hopefully, that very lack of senior managemental professionalism, and the now repeatedly recorded, lack of duty of care towards their responsibilities in several individual Organisational Approvals that MAY be highlighted to the CAA, by the CAA, for future references with regard to "BBCC/LMA" suitability in any meaningful ownership of any further aviation interests.

Or am I crediting the CAA with too much common sense in the use of their own records?