Signature Living Hotel Ltd

Signature Living Hotel Ltd

Signature Living Hotel Ltd 350 225 Safe or Scam Support

We’re hearing a very strong rumour that the next Signature company to benefit from intervention is Signature Living Hotel Ltd, the company which acted as Guarantor for many of the schemes.  It is the Signature company which sits at the very top of the pyramid.

Pyramid is actually a good word to describe the Signature portfolio of investments. That word is often linked to the word ‘scheme’.  Another word which is also often linked to the word ‘scheme’ is Ponzi.  Here is an interesting link which explains the meaning of those words when they are used together.

I’m looking at a contract taken out by an unfortunate investor who loaned £250,000 to a Signature company where the Guarantor was Signature Living Hotel Ltd.  The contract was for one year.  It paid 16% “interest” which was paid in advance i.e as soon as the investor paid the £250,000 he received £40,000 back as “interest”.  Sure enough, when the year was up the Signature company defaulted on the repayment of the capital.

The Signature company which was described as the Borrower was apparently going to use the money to develop The Coal Exchange in Cardiff and to “on-lend” to other Signature companies.  Here are a few sentences from the agreement:

The Borrower shall on-lend sums borrowed by it under this agreement to the Signature Living Hotel Group who shall use such sums for general corporate purposes including any related operational expenses with respect to the redevelopment of The Exchange Hotel situated at 4-5, Mount Stuart Square, Cardiff, CF10 5FQ, United Kingdom.

The Lender is not obliged to monitor or verify how any amount under this agreement is used. 

Were we the only ones to notice the sudden flurry of legal charges filed over a lot of the Signature companies in the last few months ?  To view our previous article on Signature Shankly  please click here.

UPDATE 21ST APRIL 2020:  The administration of Signature Living Hotel Ltd has been confirmed.  Here is the link to the London Gazette Notice.

 

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