Without being too technical Firstport(Peverel) had been part of McCarthy& Stone. when McCarthy & Stone were facing going into liquidation (as happens from time to time!) a complicated rescue was engineered which involved spinning off Firstport.
But for Firstport to be of sufficient worth leases were granted to them for the house managers flats by the freeholder which meant value was artificially created and Firstport could and did borrow against those created assets.
When "encouraging" residents to dispense with a rersidential house manager, they did mention the name of the freeholder, but did not disclose that they held a leasehold intert in the flat, which they could earn a large profit from if sold?
They also did not mention the commissions area/regional managers stood to collect if a sale went through. those residents that agree to change to a visiting house manager were defrauded by Firstport.
