Who did Derbys due diligence?

At Mondays creditors' meeting of Sturmey Archer I asked Derby execs whether their solicitors Wragge & Co had found anything wrong with Lenark Ltd. I thought it was Wragge & Co which had done the due diligence...
Author:
Publish date:

[Uploaded to BikeBiz.co.uk on 4th October]

Vicky from Wragge & Co leapt to her companys defence and said Wragge & Co didnt do the due diligence, it was Oasis Europe. This is a buying-and-selling intermediary.

On Oasis Europes website yesterday a group of recent transactions was proudly listed. The Derby/Lenark/Sturmey Archer deal was third on the list. Today I found it has been removed.

Why would that be? I asked one of the directors to explain.

A very shaken John Willcox-Jones said the reference was removed acting on clients instructions.

He refused to answer any further questions: We shall not be giving out any further information.

I pressed ahead anyway.

Your questions are fruitless. Were acting on clients instructions. Thank you and goodbye.

Yesterday, Oasis Europe said they did not do any due diligence work for Derby. OK, but who did?

Nobody at Derby was available to comment.

The due diligence report will be a crucial document in any DTI investigation into Derby's sale of Sturmey Archer.

Featured Jobs

Iride

Customer Services Support

i-ride.co.uk I Burgess Hill, Sussex I Competitive Salary Plus Commission I Date Published Tuesday 20th November 2018

BE2016_googlelogo

Senior Sales Executive

BikeExchange I UK Nationwide I Salary TBC Depending on level of experience I Date published Tuesday 11th December 2018