On 2nd June 2015, with his final payment made, Jim Gallacher emailed his Trustee, Iain Forsyth of Carrington Dean, reminding him of the contentious nature of the G.M.S.T.’s claim on his Trust Deed, and asking him to consider all of the evidence carefully.
Mr. Forsyth replied within twenty minutes, assuring him that he would ‘review everything before closing the Trust deed’.
On 6th August, having been discharged from the Trust Deed the previous day, he was sent a copy of his Trustee’s ‘adjudication’. A dividend of 1p in the pound was to be paid to the established creditors AND to the G.M.S.T.
Although that news was unwelcome, it was not entirely unexpected!
Despite the findings of Strathclyde C.I.D., despite the Trust having ‘bottled out’ of its own Small Claims action, and despite the reassurances of his solicitors, THE TRUST WAS ABOUT TO WIN ‘G.M.S.T. v GALLACHER’ on the strength of a trust deed ‘scam’ involving apparent collusion between fellow insolvency practitioners!
Mr. Forsyth possessed an eight-page submission in his client’s defence. Mr Forsyth did NOT possess sufficient evidence to support the Trust’s claim.
MR. FORSYTH’S PRIMARY RESPONSIBILITY WAS TO HIS CLIENT AND THE PROVEN CREDITORS.
Nonetheless, and as was later proved conclusively, he favoured the Trust’s claim without examining the evidence from either side.
Mr. Forsyth was about to ratify an unsubstantiated claim in favour of fellow bean counter and TOADMEISTER Nick Robinson who had previously boasted of having ‘reason to believe that further repercussions were highly unlikely’.
It was beginning to look very much as though Robinson and Forsyth were ‘in cahoots’!
Jim Gallacher had a lengthy telephone call with his Trustee the following Tuesday, and what transpired was farcical beyond belief.
We’ve only just begun folks!