Some good news….EU fraud down 20%

[Mottie]

The Indian billionaires behind the ailing Stanlow oil refinery have siphoned off more than £500 million in dividends in recent years.

I guess that’s how you get to be a billionaire but was their a reason to state their race? Why just not say 'the billionaires' or are you just being racist - I’m sure I would have been pounced on by a few on here had I mentioned their race. Anyway, dividends can only be taken from profits so I don’t see anything wrong with that.

 

[SirGalahad]

I guess that’s how you get to be a billionaire but was their a reason to state their race? Why just not say 'the billionaires' or are you just being racist - I’m sure I would have been pounced on by a few on here had I mentioned their race. Anyway, dividends can only be taken from profits so I don’t see anything wrong with that.

When did Indian become a race? If I said Chinese Billionaires, Spanish Billionaires, Saudi Billionaires.

You seem to be playing the race card.

 

[SirGalahad]

I guess that’s how you get to be a billionaire but was their a reason to state their race? Why just not say 'the billionaires' or are you just being racist - I’m sure I would have been pounced on by a few on here had I mentioned their race. Anyway, dividends can only be taken from profits so I don’t see anything wrong with that.

You really don't know much about finance and accounting. You really are a simpleton at times.

https://www.thetimes.co.uk/article/warning-on-billionaires-loans-from-stanlow-oil-refinery-h6scvxdsq

 

[JohnD]

Now of this 371m - how much was our share?

I would be more concerned with the £200 plus million that Essar Energy is not paying the HMRC in deferred VAT.

The Indian billionaires behind the ailing Stanlow oil refinery have siphoned off more than £500 million in dividends in recent years. The Ruia brothers, whose Essar empire controls the refinery in Ellesmere Port that accounts for a sixth of Britain’s fuel supplies, have extracted $717 million (£518 million) from its UK arm since 2017. Stanlow is now fighting for its future after Covid crunched its finances. Essar Oil UK’s main business is Stanlow, which it bought from Shell for £801 million in 2011. - Sunday Times

I hope its not another Greensill with Gupta.

These Indian billionaires really do like stripping UK companies.

but the Times article mentions loans.

 

[SirGalahad]

but the Times article mentions loans.

They have been taking money out in multiple ways. This will get ugly.

 

[Mottie]

When did Indian become a race? If I said Chinese Billionaires, Spanish Billionaires, Saudi Billionaires.

You seem to be playing the race card.

Come on, you just KNOW what would have been said had I used the word 'Indian' as a descriptor.

 

[JohnD]

They have been taking money out in multiple ways. This will get ugly.

was it as much as Philip Green spent on one of his yachts?

the tender alone cost $12million

 

[SirGalahad]

was it as much as Philip Green spent on one of his yachts?

Its even worse.

https://www.ft.com/content/b6149b5a-d792-4619-acfb-5f5a7787cf96

Essar’s UK oil business hired auditor with just three accountants

Yet Motties thinks this is all fine. But some poor families getting £20 more and the pitchfork is out.

Some people are so manipulated its actually sad.

 

[Mottie]

The link you give mentions dividends AND loans. Why did you not mention the loans? Again, dividends can only be taken from profits.

https://www.gov.uk/running-a-limited-company/taking-money-out-of-a-limited-company
"Dividends
A dividend is a payment a company can make to shareholders if it has made a profit".

 

[Mottie]

Its even worse.

https://www.ft.com/content/b6149b5a-d792-4619-acfb-5f5a7787cf96

Essar’s UK oil business hired auditor with just three accountants

Yet Motties thinks this is all fine. But some poor families getting £20 more and the pitchfork is out.

Some people are so manipulated its actually sad.

Would be nice if you could provide a link that we can all see without subscribing.

 

[Mottie]

You really don't know much about finance and accounting.

You obviously have no connection with running a limited company otherwise you wouldn’t be going out of your way to show your ignorance.

 

[SirGalahad]

Would be nice if you could provide a link that we can all see without subscribing.

All that money you have no FT sub. tut tut tut.

 

[SirGalahad]

You obviously have no connection with running a limited company.

Now tell me when it comes to declaring profits, how useful are accountants. Ergo Essar auditing firm has three CA.. Remember Enron.

I have few LTDs. So you are about as wrong as a Brexxer.

 

[Mottie]

All that money you have no FT sub. tut tut tut.

Tut tut indeed - someone who subscribes to FT and doesn’t know what a dividend is.

 

[SirGalahad]

Tut tut indeed - someone who subscribes to FT and doesn’t know what a dividend is.

Ohh Mottie showing his sillyness again.

Again look at how you can declare profits, what is going on at Essar.