St Vincent Investments (Properties) Ltd company reg SC344141
St Vincent Investments (Properties) Ltd SC344141
This company was set up by bank staff to purchase assets belonging to bank customers using Clydesdale Bank's money. Customers' assets were purchased at well below the red book values. This issue needs to be investigated by the Financial Conduct Authority. Whether they had the authority of the parent company or not is unclear, although auditors' reports would seem to confirm this. It is not clear what NAB's motive was in persuading Clydesdale Bank staff to set up a company in their own names, purchase customers' assets using the bank's money, and not reward the staff via St Vincent, although it is conceivable that NAB rewarded the staff indirectly via Clydesdale Bank bonuses. If any professional has any input, please let us know.
24th September 2010
1-6, Highbanks, Lower Adeyfield Road, Hemel Hempstead. HP2 5GW sold by receivers GVA to St Vincent Investments (Properties) Ltd.
"St Vincent Investments (Properties) Ltd bought my £1.3m property for £600,000. CB manager Sue Cribb. CB formed St Vincent Investments (Properties) Ltd for the sole purpose of buying repossessed finished and unfinished property deals from their receivers GVA Grimley who they are in bed with. If any properties were not sold and monies repaid within the loan agreement time, they applied interest at 29.9% until they had guzzled up the equity and more. GVA Grimley repossessed, sold to St Vincent, St Vincent goes under owing CB, CB takes back properties under their first charge and sells them at the right price, so I lose both 30% deposit plus profit £200k. They wrecked my reputation, put in £500k and came out with £1.3m. Good trick if it works. Check out the directors. Lynne Peacock and David Thorburn were CEOs of CB"
4th February 2009
Lynne Peacock becomes director of St Vincent Investments (Properties) Ltd
15th March 2011
Lynne Peacock announces resignation as CEO of Clydesdale Bank :-
25th May 2011
St Vincent Investments (Properties) Ltd receives funding from Clydesdale Bank via floating charge :-
30th June 2011
Lynne Peacock, CEO of Clydesdale Bank, resigns from St Vincent Investments (Properties) Ltd after sanctioning funding from Clydesdale Bank.
She also resigns from the following companies on the same day:-
1st July 2011
Lynne Peacock, CEO of Clydesdale Bank, hands over to David Thoirburn.