FAREPAK VICTIMS COMMITTEE

On the 13th October, 2011 at 4.13pm it will be five years since the collapse of Farepak Food & Gifts Limited.

Tens of thousands of people had their savings stolen resulting in approx £38 million being owned to Farepak Victims.

What has happened since the collapse:

BDO Stoy Hayward - On the 13th October 2006 were appointed Joint Liquidators. The last accounts given in 2010 stated that payments made totalled £4,489.716.

Included in this total is £822,445 for Liquidator's Fees; £9,050 for taxation work and £1,450,384 for forensic work.

www.farepak.co.uk/2010CreditorsReport.pdf

In April 2008 BDO initiated proceedings against the Directors to try to recover further monies that were owed to the Farepak Victims. A settlement with no admission of liability was reached with the Directors. An amount of £4 million (inclusive of costs) has been received by BDO. The terms of the settlement are confidential and the Liquidation Committee and the Joint Liquidators cannot say anthing else about this.

On 21st September 2009 cheques are sent out to 5,900 Farepak Victims who had payed monies into Farepak Food & Gifts Limited bank account after the 13th October, 2006. They are still owed monies payed in before the date of liquidation.

It is estimated that the Farepak Victims will receive 15p in the £ but BDO are unable to confirm when these payments will be made.

2011 Report to the Creditors is yet to be published.

The Directors - February 2011 the Government's Insolvency Service applied to the High Court to disqualify all nine former directors of Farepak and its parent company.

One of these Directors is Sir Clive Thompson who currently is Deputy Chairman of Strategic Equity Capital with £3,030,000 in Ordinary Shares.

If the High Court action is won and Thompson is disqualified (could take 2 years) the question is will he really be all that concerned? He has had 5 years to increase his vast wealth.

www.strategicequitycapital.com/secapital/en/home

FAREPAK VICTIMS - December 2006 the Farepak Response Fund issues vouchers worth around 15p for every £ lost.

October 2011 116,413 Farepak Victims are still owed £36.9 million.

The unfairness of this situation is very apparent – When will there be justice for the Farepak Victims?

To continue the fight for justice the Farepak Victims Committee has lodged a Government e-petition which currently is being look at by HM Treasury.

epetitions.direct.gov.uk/petitions/18820

The views of a British Tax expert.

There's a sickening dimension to today's agreement between the UK and Switzerland that is getting to let thousands of wealthy tax criminals off the hook – without them ever being held to account or even having to admit to their crimes.

At the moment the UK government is turning this deliberate blind eye to massive, large scale, organised looting of the UK's tax system it is also bringing criminal charges against more than thirty young people who recently took part in a in a wholly peaceful UK Uncut demonstration against tax avoidance.

They are facing criminal charges in the UK for having leaflets condemning tax avoiders when at exactly the same time the government was negotiating a deal to make sure that tax criminals were let off without ever facing the consequences of their crime.

This is a sickening indictment of the UK criminal justice system, our respect for free speech, the values of this government and the fact that we live in a society where it is now a crime to criticise the criminality that did and does pervade much of the financial services sector that deliberately promotes tax havens to facilitate crime of the sort which those using Switzerland have just been excused of.

No wonder people are angry. They have every right to be. We are being led by moral cowards who excuse crime whilst prosecuting those who exercise the supposed human right of free speech to criticise those facilitating it. It's Cameron and Osborne who should be in the dock, not the Fortnum and Mason's protesters from UK Uncut.

SLP Policies - Scottish Election

The Socialist Labour Party was founded to fight for socialism. Unlike New Labour, SNP, Tories and Lib Dems in this election, Socialist Labour understands that: "It is capitalism, not the complexion of governments, which is responsible for the economic and social devastation which results in: the destruction of basic manufacturing industries, mass unemployment, homelessness, helplessness and despair. Only by dealing with the root cause - capitalism itself, can this devastation be stopped and a long term alternative be constructed." -Arthur Scargill, SLP Leader. Socialist Labour's programme: EMPLOYMENT FOR ALL. The scourge of unemployment can be tackled but only with radical policies: a four day week without loss of pay. a ban on all non-essential overtime. voluntary retirement at 55 on full pay. INDUSTRY. To deal with the immediate economic and social crisis we propose: regeneration of our manufacturing and production capacity. re-opening deep mined coal, engineering and shipbuilding works. rebuilding all industries that generate real wealth and opportunities for Scotland's battered communities. investment in renewable energy industries. ENVIRONMENT. Environmental concerns must go hand in hand with resurrecting our industry: an immediate end to the madness of nuclear power stations. clean coal technology with carbon capture and an end to open cast mining. development of renewable energy resources. HEALTH & SOCIAL SERVICES. Rebuilding and further development of our NHS and social services will be a high priority for Socialist Labour: universal access to free health and social services the right to health and social services enshrined in law. the abolition of private health schemes - no one should get rich from the suffering of others - private health care also undermines our NHS. HOUSING. To tackle the housing crisis and provide work for thousands of unemployed building workers: the building of thousands of new homes each year for the duration of the next Scottish Parliament. all empty properties to be identified, modernised and converted into homes. POVERTY. Recent surveys have told us that one third of children live in poverty. This is a national disgrace, we propose: the introduction of a national minimum wage based on two thirds median male earnings. no taxation on income below £15,000. the doubling of state pensions coupled with their linking to wages and the cost of living. EDUCATION. Our comprehensive, further and higher education system is under attack and faced with deep cuts from those in government who have benefitted from a free system in the past: free, high quality education for all. free access to lifelong education. abolition of the class privilege of private education. restoration of mandatory student grants and state benefits linked to minimum wage levels. PEACE. Socialist Labour is against war. This country has got involved in many wars that are not in the interests of the Scottish people and has caused death, misery and destruction across the world. We would campaign to end current wars, to bring troops home and oppose future wars of conquest and aggression on sovereign countries. We would: remove the Trident nuclear system from the Clyde and support unilateral nuclear disarmament. withdraw this country from the aggressive NATO military alliance. oppose the concept of a "European" army oppose the arms trade. INTERNATIONALISM. With today's world racked by unjust wars, we oppose all of Britain's racist asylum and immigration laws which condemn people seeking refuge to detention, imprisonment, torture or death. The Socialist Labour Party is committed to fighting racism and fascism wherever they occur. We would: oppose the illegal and unjust sanctions upon the Cuban people. support FAIR trade and oppose "free" trade policies imposed upon impoverished nations. develop international links with peace and environmental movements, trades union organisations and womens' movements. Socialist Labour has detailed policies on these and other issues - see www.socialist-labour-party.org.uk for full details.

OUR DEMANDS MOST MODERATE ARE - WE ONLY WANT THE EARTH

VOTE SOCIALIST LABOUR PARTY ON THE 5TH MAY

On 5th May we ask you to vote for the Socialist Labour Party with your second or regional vote.

Why?

Because the SLP is committed to fighting for full employment, a free NHS and education system, a housing programme which guarantees everyone a home and the restoration of fairness in the workplace by repealing anti-Trades Union laws.

The SLP wants to see a socialist Scotland. We do not see the point in gaining autonomy for Scotland simply to give it away to the unelected and unaccountable European Union. EU bureaucrats in Brussels deny the Scottish Parliament the right to introduce common ownership and the rebuilding of industry, large and small, that has been butchered by the indifference of consecutive governments of ALL the main parties. The SLP is the only party campaigning to get Scotland out of the clutches of the EU.

The regional vote allows smaller parties the chance to gain enough support to get MSP's elected with as little as 5% of the vote. Socialist Labour MSP's in Holyrood will fight the coming deep cuts that will be imposed no matter which "main" party or coalition of parties forms the next Scottish government. We will work with local communities to campaign for more, not less, resources and services that are so essential to the life and soul of communities throughout Scotland.

Vote Socialist Labour Party - Regional Vote