ZX Vega +

Discussion in 'Everything else' started by Fzero, Feb 16, 2016.

  1. codifies

    codifies Very Active Member

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    yeah that one just got me, what class!
     
  2. TrashyMG

    TrashyMG Sarcasm Dispenser Staff Member

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    Yes it can!, Merged threads.
     
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  3. harlequin

    harlequin Still Fresh

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    ...and in the news, I've just bumped into him at Antibe's Carrefour in the south of France :D ( @ptitSeb has to know where, near Sophia Antipolis).
    I should have asked him of this whole Vega situation, and if he would happen to have a spare Gemini with him too. For... science, and... reasons...!
     
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  4. levi

    levi Still fresh, damnit!

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    He was apparently in London today, in court along with other directors on the firm to settle court costs, or at least to delay that as far as possible, all while costing themselves more. Levy apparently tried to confuse matters by talking about trying to get some documents from their ex-solicitors, who've dumped the whole party, but beyond that I can't make much more out of this report.

    https://www.theregister.co.uk/2018/08/17/retro_computers_ltd_scco_hearing_legal_costs/
     
  5. vcoleiro1

    vcoleiro1 Hardcore Member

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    There were email leaks not that long ago between RCL and their previous lawyers that said they were owed a huge amount of money that RCL didn't have. The leaks if believed showed RCL owed them over a 100K I think. And the emails were supposedly from their Lawyers trying to get the cash repeatedly over a period of time. In the end the final emails showed they gave up trying to get the cash and were then going to start proceedings against RCL.

    This is prorobaly why they are not working with their preivous lawyer anymore and were basially forced to represent themselves in that hearing. Also why they are having trouble getting any docs from their old lawyers

    In other news, a lawyer has offered to represent Vega+ backers in a no win , no fee class action against RCL. IT looks like it will probably go ahead.

    Also, along with Sinclair's company (left a while ago), both Suzanne Martin and Janko have now resigned as being directors of RCL. The only director and active employee of RCL now is David Levy.

    Let's not forget that IGG has started proceedings to get backers cash back from RCL.

    Or that supposedly they have no cash left and owe a lot of people inclusing their ex lawyers lots of money. Those lawyers supposedly who are also now taking legal action to recoup that money.

    Shit meet fan
     
  6. levi

    levi Still fresh, damnit!

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    That elreg article notes at the end that two backers have won county court judgements to the value of about 250 quid each. I think that means they already won magistrates court judgements against them, and now went to the county court to obtain a warrant to enforce it.
     
  7. vcoleiro1

    vcoleiro1 Hardcore Member

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    The ZX Vega + saga has got to be the most dram filled story ever. Now the ex directors have re-registered themselves as directors of RCL

    upload_2018-11-9_9-17-10.png
     
    Last edited: Nov 9, 2018 at 10:40 AM
  8. pmprog

    pmprog Advanced Member

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    I really don't get it. They resigned as directors, but didn't sell up their shares, and now trying to get back in? Why not just cut all ties and just be done with it? There'd have been nothing stopping them looking at making their own Spectrum handheld after the THEC64 saga had finished
     
  9. vcoleiro1

    vcoleiro1 Hardcore Member

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    And here's a statement by Paul Andrews on the matter:


    Retro Computers Limited

    In response to the inaccurate statement made yesterday by our fellow director of Retro Computers Limited (Dvaid Levy), we are compelled to issue a further company statement.

    The shareholders meeting of all four shareholders in Retro Computers Limited (that being Sinclair Research Ltd, Paul Andrews, Chris Smith, and David Levy), took place on Friday the 2nd of November 2018. This meeting was recorded with the consent and knowledge of all parties. Mr Levy confirmed to the shareholders multiple issues with the company which meant we were compelled to act, (and as is our legal right) reinstall ourselves as directors in the company as Mr Levy was either unwilling or unable to carry out the tasks needed to be done unaided. We will now take all steps required under the law to deal with these company matters. These reappointments were done with the support of 75% of the shareholders (that being ourselves and Sinclair Research Ltd) and also on the basis of legal counsel being taken from multiple firms. For clarity Chris Smith did not repudiate the shareholders agreement, Mr Levy is referring to an IP issue, and neither Sinclair Research Ltd, nor Paul Andrews at any time repudiated the shareholders agreement, in fact it is the position of all shareholders and our legal counsel (other than David Levy) that the shareholders agreement has always been in force.

    For further clarity David Levy did not found the company, Chris Smith did (as public records show), and David Levy has been making unproven claims of criminal investigations to the press for over two years.

    We are unable to make any further comments on any related matters currently.

    Paul Andrews and Chris Smith

    [Directors - Retro Computers Limited]
     
  10. xnopasaranx

    xnopasaranx Superbad!

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    wow... this whole drama is so ridiculous. Do they even expect anyone to buy this POS after all the embarrassment and laughable publicity?
     
  11. levi

    levi Still fresh, damnit!

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    And how's that going now?
     
  12. ZXDunny

    ZXDunny Deep avatar

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    I don't think it can be "going" or Andrews/Smith wouldn't have put themselves in IGG's sights for reclaiming the money...
     
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  13. vcoleiro1

    vcoleiro1 Hardcore Member

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  14. bluedeer

    bluedeer Member

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    I think what disturbs me more, is how this is going to affect TheC64 franchise. I own one of those units and I've been pretty happy with it for the most part, but I did not realize at the time that all of this was going on in relationship to Retro Computers Limited. As mentioned it seems like a large part of this drama is wrecking the company and their reputation as a whole, and what appears to be incompetence and infighting amongst the most senior management doesn't look good either. I strongly hope the lawyers figure this mess out and are able to chalk it up to incompetence and leave the company in the hands of the individuals who are /most/ likely able to carry the company on and not let it degenerate any further than it has to. I mean seriously, considering the simplicity of the device, the Vega+ shouldn't have been that complex when hobbists have been easily able to cobble together respectable and functional units with far less drama than this.
     
  15. levi

    levi Still fresh, damnit!

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    Technically, TheC64 is sold by Retro Games limited. Now, on the board of that company is a certain Chris Smith and a Paul Andrews all registered at Andrews Ltd. offices. On the board of Retro Computers there's also a Paul Andrews at Andrews Ltd. previously registered as a director, but technically that's a different company.

    The bad news is according to the last submitted account for retro games Ltd their reserves amounted to about minus 50k GBP as of Dec 31st last year, but most of that is due to significant negative 'accruals and deferred income' and I don't know what they mean by that to be fair. In comparison, Retro Computers Ltd (the bad guys) claimed to have around a positive 450k as of March 2017 (they haven't submitted accounts for the last tax year yet).
     
  16. vcoleiro1

    vcoleiro1 Hardcore Member

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    An here is Paul Andrews response to the termination notice:

    [​IMG]
     

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