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  #1  
Old 25th October 2018, 05:20 PM
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read-this WorldSBK Lake Torrent developer goes into receivership

Lake Torrentís development company has just gone into receivership.

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Manna Developments, the company behind the proposed Lake Torrent circuit in Northern Ireland, has gone into receivership, according to Companies House.

The 160-acre development to turn claypits into a world class motorsport venue - which had already secured a WorldSBK deal - is now under serious threat.

The venue, Coalisland an historic mining town with 9 pits in total, is reported to have housed up to £3 million pounds each from investors in bitcoin currency and had operated as an underground virtual mining rig while development proceeded overhead.

However, works were ground to a halt earlier this year after a nominated subcontractor brought a canary down a disused coal mine located only yards from the proposed track and it died, prompting a full investigation from health and safety officials which is estimated to run into several million pounds.

With the site deemed unsafe even for security personnel, a South Korean crypto group called 'Lazarus' are believed to have shut down the generators and hacked Lake Torrent's mining wallets resulting in accrued losses for the company of up to 30million pounds and leaving them unable to meet any further financial obligations.

Attempts to resuscitate the finch failed, and the RSPCA are said to be conducting their own separate line of enquiry into this incident.
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Old 25th October 2018, 08:26 PM
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Default Re: WorldSBK Lake Torrent developer goes into receivership

Yep trying to do good things for the biking community is hard work, my experience is you are always on your knees, so is it worth it?? well fair play to all who keep the fight going, I'm looking into a National Motorcycle Museum but it sure aint easy and most probably a non runner due to the difficulties involved, but we must keep fighting (probably before giving up but you have to try), shame about the track, it might happen yet
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Old 25th October 2018, 08:55 PM
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Default Re: WorldSBK Lake Torrent developer goes into receivership

Originally Posted by VJMC
Yep trying to do good things for the biking community is hard work, my experience is you are always on your knees, so is it worth it?? well fair play to all who keep the fight going, I'm looking into a National Motorcycle Museum but it sure aint easy and most probably a non runner due to the difficulties involved, but we must keep fighting (probably before giving up but you have to try), shame about the track, it might happen yet
Insurance cost is what kills most projects
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Old 25th October 2018, 09:35 PM
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Default Re: WorldSBK Lake Torrent developer goes into receivership

well not with a museum, funding is an issue and many more issues, as with the track and many other good motorcycling projects, all ya need is a truck load of cash and anything can be done
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Old 25th October 2018, 11:11 PM
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Default Re: WorldSBK Lake Torrent developer goes into receivership

Canaries & Finches but not a sign of a Blackbird, typical.....
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Old 26th October 2018, 06:00 PM
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Default Re: WorldSBK Lake Torrent developer goes into receivership

'This canary died of natural causes'....

'BACK IN THE HOLE!'....
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Old 26th October 2018, 06:06 PM
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Default Re: WorldSBK Lake Torrent developer goes into receivership

I am smelling a distinct whiff of fake news, but several Google searches are leading me to believe that this is just about plausible... I'm intrigued!
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Old 27th October 2018, 09:32 AM
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Default Re: WorldSBK Lake Torrent developer goes into receivership

A coroners report found that the bird suffered a heart attack and not inhilation of toxins....., relatives of the bird confirmed that he had suffered from claustrophobia...R.I.P
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Old 6th November 2018, 01:41 PM
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Default Re: WorldSBK Lake Torrent developer goes into receivership

Originally Posted by scorpy
I am smelling a distinct whiff of fake news, but several Google searches are leading me to believe that this is just about plausible... I'm intrigued!
Manna looks to have a receiver appointed alright - https://companycheck.co.uk/company/N...ITED/documents
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