UPDATE (1 September)

UPDATE (9 September)

Dear Kevin,

I was pleased to note your interest in the abuse of personal guarantees

Personal guarantees are the preferred security for banks. They have been allowed to proliferate without effective safeguards.

The inappropriate use of PGs is a significant problem. The consequences are not trivial. https://www.diylaw.co/jane-farmers-impact-statement

You will know of the cases where a PG has been used as a first resort.

For the second stage of Project Heritage, we are developing a transparent, online, automated process to establish where PGs have been improperly called upon. These cases can be put to bed, cutting the cycle of loss, in much the same way as PPI refunds should be refunded automatically, without lengthy and expensive court procedure.

We believe it would be beneficial for all parties.

I would like to discuss this process with you. I understand you are not available in August. My next available dates are 3/4 or 10/11 September.

The following link shows my late husband’s business intellectual capital valued at £150,000. This was ignored and so represented a loss to business and a loss to UK plc. (https://static1.squarespace.com/static/59a6784dcd0f685560d9cdae/t/5f3e8dfa62203a7828ff5446/1597935111179/Godfrey+Farmer+Intellectual+capital.jpg

After being made to sign a PG, my late husband attempted suicide. How many talented business people are going the same way?

How many other companies over the UK have PGs instead of an understanding with the business? There is little chance of business recovery whilst the process works solely to satisfy the insolvency industry.

This does not happen on the continent of Europe; I cannot believe this is being advocated for the UK.

I am circulating this as an open email and I look forward to your response.

Regards

Jane Farmer