Guy Taylor - The Magna Carta Man of the UK

[PeanutGallery]

The perverse thing about Taylor's logic is that every time he loses, it reinforces his belief in his conspiracy theory. He therefore is convinced that losing means he is right.

If, and this is an if of immense magnitude, Guy were to win in court it would disprove his conspiracy theory. He wouldn't have anything to believe in or rail against. As such I would posit that if there was a conspiracy directed to keep those like Guy from telling the truth about a hidden agenda, it would be far more beneficial to any controlling cabal to let Guy and other "truthers" 'win' in court as by doing so the conspiracy would be maintained.

[NYGman]

The perverse thing about Taylor's logic is that every time he loses, it reinforces his belief in his conspiracy theory. He therefore is convinced that losing means he is right.

If, and this is an if of immense magnitude, Guy were to win in court it would disprove his conspiracy theory. He wouldn't have anything to believe in or rail against. As such I would posit that if there was a conspiracy directed to keep those like Guy from telling the truth about a hidden agenda, it would be far more beneficial to any controlling cabal to let Guy and other "truthers" 'win' in court as by doing so the conspiracy would be maintained.

But by allowing him to win he would say they have acknowledged the conspiracy and would spur him on to help get More acknowledgement. You can't win with Guy. A loss is a win and a win is a win.it is win win for him. So why does He bother

[mac]

Pity they didn't look after their tenants who had to vacate the premises he owned in Hereford due to lack of electricity and the eventual seizure by the bank. Four legitimate business's who paid him their electricity bills had to re-locate and one business owner who had a nervous breakdown

[YiamCross]

Pity they didn't look after their tenants who had to vacate the premises he owned in Hereford due to lack of electricity and the eventual seizure by the bank. Four legitimate business's who paid him their electricity bills had to re-locate and one business owner who had a nervous breakdown

What was that thing about causing no harm? They seem to think that so long as they come to no harm nothing else matters, they don't seem to notice who goes under the wheels of their rickity clapped out bandwagon.

[mac]

There's a bit of activity going on in the comments section in his local Newspaper Report

http://www.herefordtimes.com/news/14153 ... ef=mr&lp=9

[getoutofdebtfools]

Taylor is being hailed as a hero by some, I shall register a set things straight.

[rumpelstilzchen]

The newspaper describes him as a businessman. What business does he run? The only business I have seen him involved in is other people's business.
I like this bit:

The court heard he had taken out an £824,000 loan from Barclays in 2007 but later found out a £904,000 loan had been substituted for the earlier one, with Taylor saying the signature on the second loan was forged.

Taylor, a convicted counterfeiter, claims to be the victim of forgery? The bullshit that oozes out of that man is incredible..

[mac]

I think the counterfeiting is a cover for other things he did a stretch for. Read the comments at the bottom of the report he's never mentioned that in his legendary talks

[notorial dissent]

The change in loan value does strike me as odd, but I can think of several cases where it could have come about. I can't remember at this great remove, but does/didn't he claim that he'd actually paid off the smaller amount at some point but couldn't find the receipts, etc???? Or is that someone elses fantasy I'm misremembering? have my suspicions as to how he got to this pass.

[Normal Wisdom]

The change in loan value does strike me as odd, but I can think of several cases where it could have come about. I can't remember at this great remove, but does/didn't he claim that he'd actually paid off the smaller amount at some point but couldn't find the receipts, etc???? Or is that someone elses fantasy I'm misremembering? have my suspicions as to how he got to this pass.

No you remember correctly ...

Prior to 2007, Guy's father owned property worth £4m. He owned this outright, with no debts. The property included a functional pub, another pub with eleven flats but burnt-out, and a mini industrial estate. He employed a solicitor (costing £30k per year), an accountant, etc.

In 2007, Guy's father died. Guy inherited the property. He decided to save money on the solicitor, and do legal work himself. He took out a loan for £824,000, intending to sell a property for £900,000. This would pay off the loan and death duties (aka inheritance tax).

[Woah, Hang on right there. Paying back a loan of £824,000 with £900,000 wouldn't leave much change: £76,000. So how much was the inheritance tax? I would expect 40% of £4m, perhaps with the first £650,000 tax-free. So the tax would be £1.34m or more. Normally, tax has to be paid before the inheritance can be claimed. The taxman would accept that Guy probably didn't have that cash to hand, so might have allowed him to sell some property first. Or he could borrow the money, pay the tax, and then the properties would be his.]

For the first year, Guy made the payments on the loan. Then he discovered the loan had been paid off, from another loan taken out in his name in April 2008 for £904,000, which he knew nothing about. He still had £250,000 in cash from the first loan, so he wouldn't have taken out another one. [This new loan for £904k, which was £80k more than the original, where did the extra £80k go? Guy doesn't comment on this.]

There was also an extra bank account. Someone opened a bank account in Guy's name, in Bristol. He doesn't say if the account was in credit or debit.

Okay. The only problem so far seems to be that the bank claimed Guy owed 10% more than he thought he did. But then the real problems started.

Barclays Bank said Guy hadn't paid since 2008, and they would start seizing properties. But Guy claims he had been paying (in cash) and had receipts to prove it. Guy sent Barclays a "notorial instrument" charging them with £100m based on the fraud against him, with "implied admission absent response". In other words, if you don't rebut this you accept it as true. The bank tried to auction off 3 properties, total value £1.6m: the running pub, the mini-industrial estate and the burnt-out pub, now bulldozed by Guy. They advertised through estate agents. Guy sent notorial instruments and commercial liens to the estate agents; they pulled out. The bank had appointed a receiver. Guy chased the receiver and locksmith etc from the mini-industrial estate.

[Woah, hang on. A receiver? Where did that come from? Was the bank claiming Guy was bankrupt?]

From then on, Guy tried to stop the bank from selling "his" property. Bodenham Manor was sold, but Guy's position is that it remains his. Guy is currently charged with trespass with intent to live there. His defence is that BM is his property, and that the CPS can't prove otherwise.

[Footloose52]

I suspect that Guy took out what is known as a 'bridging loan' to pay the IHT. That is an interest only loan over, usually, 12 months or less. I think the payments he alleges he was making would be to cover the anticipated interest. If he didn't make the payments then the loan amount would roll up as it did.

Hang on - I detect a similarity to someone else with an interest only loan here ...

Edit to add that, assuming interest at 3.5% above base rate and quarterly rests (which is usual), then interest for a year is going to be not far off £75k. The executors are also allowed to use cash in the estate to pay the IHT so it is possible that Guy just borrowed the shortfall.

[mac]

https://www.insolvencydirect.bis.gov.uk ... CaseType=B

and his wife Linda in the previous year

[mufc1959]

The newspaper describes him as a businessman. What business does he run? The only business I have seen him involved in is other people's business.
I like this bit:

The court heard he had taken out an £824,000 loan from Barclays in 2007 but later found out a £904,000 loan had been substituted for the earlier one, with Taylor saying the signature on the second loan was forged.

Taylor, a convicted counterfeiter, claims to be the victim of forgery? The bullshit that oozes out of that man is incredible..

I bet he didn't pay the arrangement fee up front for the £824K loan, so it was added to the loan, taking it to £904K.

[mac]

Something doesn't add up here. Loan £824K with interest payment over 5 years takes it to over £940K
How did he convince the Bank to lend him such a large amount of money, the total value of the properties was probably a little over £1.5m if that, all being in a state of disrepair. The rents on the industrial units was little more than £2500 per month of which the VAT man would want his share Repayments on the loan would be more than £8k
Am I missing something here

[NYGman]

I think you just explained why Guy couldn't keep up with the payments. Perhaps the purpose of the loan was a Bridge facility, to allow Guy to pay off the Inheritance tax, so up some properties, then sell a few to satisfy the loan. I think the reason why the Manor was included in the collateral, was due to the lack of value in the other properties. Unfortunately, Guy squandered his opportunity, and the bank came it to take the asset worth the most, the manor house and land.

Like TC, Guy did not understand what he was doing, what he was borrowing, what the terms were, ore even what collateralize the loan. At the time, I don't think he cared to find out, as he would have needed the money asap to make payment on the tax. So he took what was on offer, but never got around to refurbishing and selling up, to repay the initial loan. The loan amortized, fees were added, and the bank foreclosed for the balance owed, 900k. As much as he believes the differential in value is representative of a new loan, repaying the old, and no time does Guy show how he repaid the 800k originally borrowed. He should have paid off at least that amount, and even the disputed amounts, to clear the loan. Then he could have litigated to get his money back plus damages. That is the way normal people would do it.

[notorial dissent]

I thought the property was worth closer to £4m, how did it go to £1.5m?

[NYGman]

I thought the property was worth closer to £4m, how did it go to £1.5m?

If anyone can turn £4m into £1.5, it would be Guy of the family Taylor. Look at how adept he was at turning all TC's equity into nothing. I am sure he was equally skilled here.

[notorial dissent]

True, never discount native stupidity and general ignorance.

[mac]

Well with Christmas nearly over I hope this gave Mr Taylor time to sit down with his pint of lager, realising in just 7 years he has managed to lose or squander his inheritance, lost people their homes, forced tenants from his properties by not paying the electricity bills (which they paid to him) and paying him rent but not repaying his bank loans, going bankrupt and now no doubt dreaming up his next move, what will that be I wonder
Well done Guy you really are a star

[Joinder]

Does anyone remember why he is called " magna carta man " ??