Robert 'Crab Bait' White consents to losing his houses

[The Observer]

Well, I detect a loophole or defect in that document. He didn't sign it, it did not get stamped with a wax seal, nor is there a thumbprint in red ink. And not a single drop of blood anywhere. I almost get the impression that Crabbie is not really serious about being in lawful rebellion.

[TheCoz]

I'm hoping that will be enough to get the police and men in white coats involved.

To me, it seems like he's contemplating suicide before they take the house off of him.

[exiledscouser]

Oh my. This won’t end well. I hope the council alert the necessary professionals.

I sense he wants to be the first (and probably last) martyr for the cause.

All this over a a Facebook promoted fantasy pedalled by a workshy old hippy from Glastonbury, egged on by delusional no-marks and life’s failures rattling away on their keyboards in darkened rooms. Where’s the logic in allowing this nonsense to overtake your life.

What a waste.

[Siegfried Shrink]

That can be arranged.

The sinister PTB can do anything.......anything, I say!!!!!

[rumpelstilzchen]

I see it differently. To me it is just some idiot talking big on the internet.

[TheNewSaint]

I remember "Baron" David Ward making similar fatalistic proclamations, and he went pretty quietly.

[mufc1959]

Crabby's tribulations with the Trustee in Bankruptcy continue unabated. The Trustee has thrown him a lifeline by proposing he enters into an IVA. And once the mortgagees of his ten rental properties get wind of his bankruptcy, it'll be LPA Receivers and forced sales all round. Another win for Crabby!!!111!!! After all, it's only fake money, and our hero has a plan, which undoubtedly will see him come out on top...

[exiledscouser]

Over on PLD Crabby posts the latest letter from his Trustee in Bankruptcy. He claims that the tenants at ten properties he owns have been contacted by the Trustee, his bank account has finally stopped working and things are heading for confrontation.

The Trustee has written to Crabbie that his assets well exceed his (current) liabilities and that by cooperation he would be much better served.

Indeed the Trustee offers to assist him with an IVA, very generous in the face of belligerent and quite hostile PLD inspired gobbledegook thus far.

Instead Crabby wants to go down in flames. The Trustee points out that his (increasing) costs are simply met from Crabby's estate. He doesn’t have to offer the IVA and must know that given the available assets he and his firm can look forward to a very merry Christmas and probably a couple of foreign holidays next year.

Instead he’s reached out very reasonably I think but there will come a time when he’ll have had enough and start selling stuff off.

This has the hallmarks of a tragedy of truly Wagnerian proportions, entirely self-inflicted. Crabby doesn’t risk prison like Olly; instead he is wasting his money tilting at windmills. The Trustee will have seen this all before and will just get on with it.

If you’re reading this Bob, unless you want to lose everything, settle things and move on. None of your PLD mates give a toss about you anyway.

[longdog]

I can't decide if he really he believes he can thwart the bankruptcy by his Magnum Charter woo or if he's just clocking up costs, which will come out of his pocket, because he's a stubborn moron.

He always seems to have a cunning plan as to what he's going to do next but even somebody as thick as him must have noticed all his previous cunning plans have failed abysmally.

[notorial dissent]

So now we know how our little Quail has been affording his lay about life style, he's a slum lord. Now that the cash faucet has been or is about to be turned off, things may get a bit tight for our webel hero.

[hucknallred]

He says it's only fake money anyway. Fake money that can be exchanged for very real goods & services though - if you still have it.

[Siegfried Shrink]

It does say 'may exceed liabilities' not 'well exceed' or even 'will exceed'.

[The Observer]

This has the hallmarks of a tragedy of truly Wagnerian proportions,...

Maybe we could convince grixit to organize a Quatloosian Greek chorus that will prophesize the coming judgment and anger of the gods against Crabbie.

[rumpelstilzchen]

Er...isn't a landlord with ten rental properties exactly the type of individual who the PLDers find distasteful?

[exiledscouser]

Er...isn't a landlord with ten rental properties exactly the type of individual who the PLDers find distasteful?

And there’s Dismal Dave without two pennies to scratch his arse, forced to beg for alms when Crabby is willing to probably double a £41k debt and can boast that even then it won’t affect him. Truly a two tier brave new world awaits if these fools ever get the reigns of power.

If the OR has sniffed out at least ten rental properties you can assume that he’s taken control of the income they generate too.

[ArthurWankspittle]

It does say 'may exceed liabilities' not 'well exceed' or even 'will exceed'.

He'd have to have all of them highly leveraged for them not to find £42k in a handful of properties. Probably why an IVA would work in this situation, the rents would be used to pay the debts over a set period while he and his missus still keep their house.

[ArthurWankspittle]

And there’s Dismal Dave without two pennies to scratch his arse, forced to beg for alms when Crabby is willing to probably double a £41k debt and can boast that even then it won’t affect him. Truly a two tier brave new world awaits if these fools ever get the reigns of power.

Strange that he never offered Baron Dave a place, when they are so like minded.

[exiledscouser]

"Your name has been added to a long list of traitors in the UK, you will be dealt with when the time is right"

Such a sweet talker is old Bob. Try saying the above with a sinister B movie German accent and you eventually arrive here.

[NYGman]

So if it's only fake money anyway, he should rip up the leases governed by that illegal treasonous statue law, and gift the property to the tenants as he doesn't want to get involved with all that fake money coming in as rent or commit treason trying to enforce a lease.

[Siegfried Shrink]

My comment on 'well exceed' was in the interests of accurate quotation from sources.

However, it is not uncommon for buy to let empires be more or less finely balanced than might be prudent, many do collapse under very little adversity, and from what I have read I do not associate Mr. White with financial prudence. This is of course merely an opinion.