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BB
16-07-14, 08:39 PM
Just had a letter today to say that MAG is convening an Extraordinary General Meeting with a view to placing the company into Creditors Voluntary Liquidation!

They are citing they are 'no longer viable owing to it's inability to attract the necessary donations as a direct result of the Employment Tribunal proceedings brought by a number of ex employees'

Sure didn't see that coming.

WR6133
16-07-14, 08:46 PM
Move assets, fold and reappear with new director maybe

Dabz
16-07-14, 09:32 PM
A real shame that ex employees may be the downfall, but by this stage surely there would have been an option to settle and protect the organisation.

BB
16-07-14, 09:35 PM
They have already set up another MAG organisation ready to roll following the EGM

QB1
17-07-14, 09:41 AM
Just had a letter today to say that MAG is convening an Extraordinary General Meeting with a view to placing the company into Creditors Voluntary Liquidation!

They are citing they are 'no longer viable owing to it's inability to attract the necessary donations as a direct result of the Employment Tribunal proceedings brought by a number of ex employees'

Sure didn't see that coming.

Is that the old or new company?

http://www.visordown.com/motorcycle-news--general-news/mag-uk-wound-down-after-losing-employment-tribunal/24651.html

BB
17-07-14, 01:38 PM
I haven't got the letter with me so can't say which for now. Just feel it's very sad it has come to this :(

SupeRDel
17-07-14, 04:45 PM
Got the same letter, as an committee member of the Aircooled RD club we are affiliated to them so I get their magazine.

We are affiliated to the BMF who seem a better crowd. One advantage is the free public liability insurance we get when we club stands at shows.