Assets = Property or Cash (Direction is not Discretion)

Under the agreement we were going to pass over two of companies companies to MAF and JPQF (which turned out to be Mathew Fell MAF's son. It ended up in Martin's Companies under Fell Estates - nothing to do with JPQF).

So if there was a shortfall then we had to pass over Assets. The one company dealt exclusively in Freehold Ground Rents (FGR) Cash was also an option. There were intercompany loans.

I did a rough calculation which eventually went up to £230,000 - £260,000 (less any sales prior to auction). The Auctioneers suggested a reduced price to my calculations. So these were at a discount of about 10% of my figures. Rememder these are guides not reserves so I could make up the 10%. or more, Plus they were higher than MAF's valuations. To pay the intercompany loans plus some regular payments plus our solicitors and a bit more. The extra solicitors costs were crippling TDSF & CJWF and especially CJWF - which by now was becoming obvious. With the first case (MAF had 13 people partners and staff working on his legal team for 5 months before any papers were even served). The arbitration solicitors costs on the agreement went from £12,000 to £20,000+ in a few days The arbitration day went from 10.00 a.m - 11.30 pm almost 2 days worth of costs (£25,000+).

MAF/Mathew Fell via TDSF said we could not have the auction. I said there was nothing in the agreement to say we could not sell our own properties in the three remaining companies. We needed cash and it was an option (properties or cash) and it's normal to pay loans off in cash not properties.

TDSF Any property sales were at MAF 'discretion'. We could not sell anything. I said no they are not. We would not be able to pay bills or ourselves. So CJWF just about did it TDSF and CJWF selecting properties. TDSF approved. CJWF even paying Bond Wolfe auctioneers on CJWF personal credit card. The company did not even have enough in the bank to pay that or other bills. CJWF/TDSF could not even pay salaries regularly.

But Mr. Abrol did his word trick as he did in the first case ('around' became 'out' see first case).

So TDSF and CJWF '... they will transfer into either either DFL or CPL (at MAFS direction) .........such assets they choose....

DIRECTION NOT DISCRETION

Mr Abrol Meridian MAF solicitors wrote (email)to TDSF/CJWF solicitors to say we could not have the auction. The main purpose was the copy to the auctioneers and threatening an injunctiom.MAF I understand also phoned them up. This was all based on Mathew Fell's fraudulent Values which were at 50% of value plus a further 20%. MAF/Fell Estates refused to negotiate 6 times. It was obvious they wanted the assets based on fraudulent valuation the discounted assets not cash. He was disqualified: a).Not a qualified RICS Valuer; b).Not appoined by the President of RICS (S15), c), Automatically disqualied as the purchaser (RICS regulation); d). CP 35 Independent