Ludicrous claim by bankrupt businessman

by OUR BUSINESS RESEARCH UNIT

The joint president of a company whose annual accounts are eight months overdue has accused the owner of Not Just Sheep & Rugby of being "criminally liable for untruth dissemination" after we published information from a report which is freely available on the Companies House website.

In correspondence circulated to investors in Genfro Ltd. - purportedly a business manufacturing chemical products - and dated March 1st, Martin Frost, the bankrupt former chairman of numerous companies in the Avocet group also accuses this blog's boss of being a spokesperson for Emma Porter, the insolvency expert currently dealing with the financial collapse of one of his failed outfits.

Earlier this week we carried an article based on the contents of a progress report issued by Ms Porter in her capacity as the administrator of Orrdone Farms Ltd., another Avocet concern which failed to market anything before its demise. Instead, it left in its wake more than 160 creditors claiming to be owed at least £11.3 million.

Unfortunately, the true position of Orrdone's multi-million pounds disaster has yet to be established three years after Ms Porter's appointment, thanks mainly to the non-cooperation of the firm's directors who included Mr Frost.

In his capacity as self-appointed joint president of Genfro - he shares the vaunted position with Dr Bob Jennings, another Orrdone director - Mr Frost tells shareholders:

"Borders journalist makes himself criminally liable for untruth dissemination.  "Dear Colleague, "Emma Porter’s and Aileen Orr’s spokesperson, Borders journalist Chisholm, confirms by inference that Aileen Orr misled Emma Porter who in turn conned many to adopt Aileen’s propaganda. As shall be seen, these people caused the demise of Orrdone Farms Limited. "To prove their dishonesty, some 500 pages of evidence is provided in ‘Report Two - The Consequences of the Conduct of Insolvency Practitioners and their Associates’ which was lodged on 28th February 2023." No indication is given as to the destination of the 'evidence' although there have been countless promises by Mr Frost over the past few years that legal action was pending against Avocet's "naysayers". It is not clear whether Mr Frost has assembled the evidence himself or has commissioned an investigator to compile the vast document. Meanwhile investors in Genfro, and another company by the name of Avocet Natural Capital have been told by Mr Frost that they will soon benefit from payments from Israeli organisations who plan to acquire the group's intellectual property, a formula for a "revolutionary" green fuel. At one point Mr Frost claimed the lucrative deal was supposedly being brokered by the mysterious Tim Carter, UK representative of PCH Holdings although a number of disillusioned shareholders claim Carter does not exist. He has not been mentioned in recent despatches. Genfro, which was launched in September 2020, had almost 300 shareholders with some 19 million shares between them when management last lodged a confirmation statement at Companies House in December 2020. But the Registrar of Companies' records show Genfro's first accounts made up to September 30th 2021 should have been sent in by June 30th 2022. As of today, there is still no sign of them. At the same time an updated Confirmation Statement due by January 10th 2022 remains more than a year behind schedule. Failure to file accounts on time is a criminal offence under the Companies Act 2006.