Dear Residents,
We want to share critical updates regarding the future of Twelve Trees Management Company (TTMC), your service charge rights, and the protective steps your Residents’ Association has taken on your behalf.
🚨 TTMC’s Imminent Collapse Was Always the Plan
Evidence now shows that TTMC’s insolvency and closure to avoid liability to leaseholders was being discussed as far back as last year.
- Former TTMC Director Ritesh Patel admitted this strategy before resigning just 20 minutes after TTMC lost its first tribunal hearing.
- A leaseholder who once sat on TTMC’s advisory board confirmed the wrongdoing but refused to continue once they discovered the scale of mismanagement.
- This is no longer speculation—independent forensic analysis now confirms TTMC’s insolvency.
📉 TTMC Is Insolvent and Functionally Worthless
Chartered Forensic Accountant Chris Makin (FCA, FCMI, FAE, QDR) has issued his expert opinion confirming that TTMC:
- Is insolvent, with no ability to meet current or future liabilities.
- Has no working capital, no retained assets, and no viable operations.
- Is legally treated as dormant under Companies House and HMRC guidelines.
- Will shortly become defunct following the Right to Manage (RTM) transfer.
Crucially, Mr. Makin confirmed TTMC’s apparent “surplus” for 2023 was based on false statements:
- An admitted ÂŁ44,435 reserve fund error.
- An additional ÂŁ28,000 shortfall flagged by a former director.
Even if that ÂŁ28,000 is recovered, TTMC remains insolvent. There are no assets or reserves to satisfy court orders, service refunds, or legal liabilities.
📄 [A copy of the expert letter is available – read the full article.]
âš– MCRA Is Now Seeking to Add AXA to Legal Proceedings
Because TTMC is confirmed insolvent, we have applied to add AXA Insurance UK plc (TTMC’s insurer) as a direct party to ongoing tribunal and court proceedings.
- Under the Third Parties (Rights Against Insurers) Act 2010, leaseholders can claim directly from the insurer when the insured party becomes insolvent.
- If the Tribunal refuses, we will file separate High Court proceedings directly against AXA.
- Either way, your financial interests remain fully protected.
❌ Urang Has No Legal Standing to Demand Service Charges
- The management contract between TTMC and Urang Property Management Ltd expired on 14 May 2022.
- No valid renewal or extension exists. TTMC admitted this in its Tribunal filings.
- Therefore, any service charge demands issued by Urang after May 2022 have no legal basis.
If you are receiving automatic emails from “Blocks Online” or similar systems, please note: these are not valid demands.
👉 Many residents are already withholding payments successfully. If you want our help to formally dispute or withhold service charges, please contact us.
đź’ˇ Final Word
We know how difficult and stressful this has been for many of you. But TTMC’s strategy to collapse and escape responsibility has now been exposed.
Your Residents’ Association is acting swiftly and decisively to protect your rights, your finances, and the future of our community.
With thanks and solidarity,
Amar Lodhia
Chairman – Maltings Close Residents Association
👉 (Click the link to read the full article online) – http://eepurl.com/jkyAqQ