I am an Owner in the o/s scheme but not an investor, can some one please explain what is happening as it seems to be quite worrying for anyone involved in ownerships.

Thanks
Bill

Bill, you are one of the lucky ones. All those that have invested money with OwnerShips will have lost the lot.

Your share is safe, your money paid in sinking fund may well have gone however. After I left Allen paid all the sinking funds in to one bank account instead of each boat having its own account, presumably so he could use the "kitty" for some working capital - I do not know for sure but suspect he will have borrowed from it, indeed I would put money on it!!

OwnerShips needs to be wound up and a line drawn in the sand. A new company could be formed to manage the boats, this has a chance, but anything else is folly.

Philip

I hope you are wrong about our sinking funds being used for alternative purposes and if this was indeed the case would this not be a case of breach of contract and possible fraudulent use of the sinking funds of each boat.

I have no idea specifically as I was not there! All I would say is it would not shock me.