The protection of the client monies comes from the bank ‘ringfencing’ the account, thus preventing any unauthorised money movements out of it.

Certainly both Ancasta and Princess told me some time ago they had organised this type of ringfencing arrangement with their client accounts.

But I wonder if this will really deter a determined fraudster or an aggressive receiver?

Let’s hope so. Because the spectre of the BA Peters Plc debacle still looms large and we need to convince Joe Public his money is safe with a boatbuilder/broker/dealer.

Princess sold
Since Derek Carter put together the MBO that prised Fairline away from Graham Beck, the industry has speculated how long he would keep hold of Princess.

I understand the staff at Princess are more than a little annoyed that they were not told about the sale by the management and found out from the Plymouth Herald at 07.15 Tuesday morning.

In these days of instant communication I suppose it’s easy for news to be leaked. But I get sworn to secrecy on occasions and keep my word.

So how did this information get into the local rag before the employees knew of it?

The ‘slowdown’
I’m still not sure about the ‘slowdown’. The more I read, the more the reports seem to disagree with each other.