Footballfirst Posted May 11, 2014 Share Posted May 11, 2014 With STs likely to go on sale shortly, I don't know if Hearts will be using Zebra Finance for extended repayment options for next season. This is just a heads up about how the company avoided a potential liability last year. My post is not an invitation to use or not use their services in the future. Zebra Finance Ltd actually went "bust" in October last year, after they were named in a class action for damages regarding faulty breast implants. (pun intended) They avoided the potential liability by going into voluntary administration, and their business and assets were subsequently sold as a pre-pack to Trent Finance, who I assume are continuing to use the brand name while providing a similar service. The Rangers are currently using their services to finance ST purchases (albeit at a slower rate) for next season so the risk of Zebra's failure should be low. A Derby-based business linked to companies which supplied faulty breast implants has been sold in a pre-pack deal. Zebra Finance, a financial brokerage, has been bought by connected company Trent Finance with 32 jobs being saved. It was sold after Gareth Rusling and Andy Wood of The P&A Partnership were appointed joint administrators on 21 October 2013. Zebra Finance was responsible for originating, underwriting and collecting repayments of unsecured loans to consumers on behalf of third party finance providers. Wood said the business entered administration as a result of being named in ongoing class actions being brought by recipients of defective Poly Implant Proth?se (PIP) breast implants. He added this was because two of the surgical companies involved introduced clients to Zebra Finance. "PIP, the UK distributor, and the two surgical companies have gone into formal insolvency as a result of the actions," said Wood. "Under section 75 of the Consumer Credit Act 1974, the finance broker ? in this case Zebra Finance - then becomes liable." Wood added: "I am pleased that the sale of Zebra Finance Ltd to Trent Finance Ltd has resulted in all employees being transferred across to the purchaser and there have been no redundancies." http://www.insidermedia.com/insider/midlands/101920-zebra-finance-sold-pre-pack-deal Link to comment Share on other sites More sharing options...
Tiberius Stinkfinger Posted May 11, 2014 Share Posted May 11, 2014 What a strange thing to post when nothing has been announced regarding season tickets sales, never mind how they may be financed. Link to comment Share on other sites More sharing options...
Hot since 86 Posted May 11, 2014 Share Posted May 11, 2014 Is this in connection to anything that you have heard? Seems a bit random. Link to comment Share on other sites More sharing options...
Kalamazoo Jambo Posted May 11, 2014 Share Posted May 11, 2014 Things aren't really that black and white right now. Link to comment Share on other sites More sharing options...
Jambof3tornado Posted May 11, 2014 Share Posted May 11, 2014 Whats strange about posting info on the company that many fans finance season tickets through? Link to comment Share on other sites More sharing options...
Footballfirst Posted May 11, 2014 Author Share Posted May 11, 2014 Is this in connection to anything that you have heard? Seems a bit random. As I said, its just a heads up. Hearts have used Zebra previously and may well want to do so in the future. It's just a business ethics point that the company's management chose to avoid potential creditors by folding the company, but enabling their profitable business to be continued under new owners. It's all perfectly legal, and some would argue that the action was a reasonable one, given that the surgical companies who employed Zebra also chose to go bust rather than face the consequences of supplying faulty goods. Link to comment Share on other sites More sharing options...
graygo Posted May 11, 2014 Share Posted May 11, 2014 Whats strange about posting info on the company that many fans finance season tickets through? I think it's just that it's not new news. Link to comment Share on other sites More sharing options...
ghoehle Posted May 11, 2014 Share Posted May 11, 2014 I think it's just that it's not new news. I use the finance option and didn't know. So it's interesting for myself . Cheers OP. Sent from my iPhone using Tapatalk Link to comment Share on other sites More sharing options...
Jambof3tornado Posted May 11, 2014 Share Posted May 11, 2014 I think it's just that it's not new news. so FF is working on commission based contract,I've no issues with that!! Link to comment Share on other sites More sharing options...
The Don Posted May 11, 2014 Share Posted May 11, 2014 As business ethics go we are only just starting the process if exiting Administration ourselves having avoided paying many creditors what they were due. Don't see how or why we would have any ethics or moral high ground to take over Zebra. Pointless post IMO hypocritical at best. Sent from my iPhone using Tapatalk Link to comment Share on other sites More sharing options...
graygo Posted May 11, 2014 Share Posted May 11, 2014 I use the finance option and didn't know. So it's interesting for myself . Cheers OP. Sent from my iPhone using Tapatalk Fair enough, it has been discussed on here before though. Link to comment Share on other sites More sharing options...
ghoehle Posted May 11, 2014 Share Posted May 11, 2014 Fair enough, it has been discussed on here before though. Maybe some people haven't seen it? There's also about 20 threads about hibs, 20 about signings....etc etc Sent from my iPhone using Tapatalk Link to comment Share on other sites More sharing options...
leginten Posted May 11, 2014 Share Posted May 11, 2014 Things aren't really that black and white right now. You're wasted here, KJ. Link to comment Share on other sites More sharing options...
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