MTvan gone bust?

For some weeks I’ve been controlling my anger about the latest shady trick played by Courier Finance Ltd, the owners of I’d planned to write something in the next few days about their way of doing business, which I’ve considered for some time to be slightly less than honest and open.

Not content with lying to their original members about their membership fees giving them life membership, they sneakily bought the courier forum while hiding its ownership from its members, saturating the site with advertising for their associated (and I think highly questionable) business ventures and claiming for two years that it was “by far the largest independent forum for couriers and courier owner drivers”. Independent my arse, about as independent as their courier exchange site that was actually run by a company that was quietly in competition with many of its members.

Anyway, it seems that events have overtaken me and I won’t get the chance to launch the scathing attack on their business that I had intended to. It turns out that the experienced businessmen at Courier Finance Ltd decided that after Amtrak had gone into liquidation in 2007 it would be a good idea to extend credit terms to the newly-formed Netfold Ltd, which bought the business from the liquidators. It also appears that they didn’t notice when Netfold failed to file its first accounts on time in March 2008 and seemingly continued to provide credit to them until they went into administration at the end of August 2008.

Visitors to this evening have been greeted with the message: “We regret to announce that Courier Finance Ltd has ceased trading at the end of Wednesday 10th of September 2008.

The closure of Netfold t/a Amtrak owing Courier Finance Ltd considerable money was just too much.

This in turn has brought down

To those of you who have supported us in the past, our sincere thanks.

To those of you who are owed money our sincere apologies.”

So that’s alright then.

I wonder if we can we expect a new book in the near future – “Tony’s Guide To Phoenix Companies”?

Posted under Courier and Freight Exchanges, Courier Scams

Posted by Alec at 7:41 pm, September 10, 2008

Tags: , , , ,

8 Comments so far

  1. Robert John added on  September 11th, 2008 at 15:10

    I just found out about MT Van and am a little aggrieved to say the least. I was getting paid every week like clockwork until about 6 weeks ago then the payments stopped. Spoke to Holly who reassured me nothing was wrong and told I would receive payment soon. Am still owed £700 by them and have no chance of ever seeing it. Rob from Cardiff.

  2. Neil Holden added on  September 12th, 2008 at 11:26

    found out about MT Van from their site. I had a couple of items in a warehouse belonging to Courier Plus/Independent Logistics (who it seems went down last thursday)and now have no idea how to contact anyone who has access so i can retrieve my goods. Found this page by a quick search can anyone help me out?

  3. You could try asking at – there’s at least one person around on there that should know something.

    Failing that try contacting Companies House and see if an Administrator’s been appointed for Independent Logistics Co Ltd yet.

  4. Anyone owed money for work they’ve done through MTvan for Royal Mail Sameday (that’s Royal Mail Courier Services Ltd, or RMCS Ltd) is advised to contact:

    Royal Mail Courier Services
    Minerva Business Park
    Lynch Wood
    PE2 6FT

    For jobs undertaken before 4th August an invoice is required. Jobs carried out between 4th and 31st August will be paid on a self-billing basis and jobs done from 1st September will need to be invoiced.

    RMCS can be contacted on 01733 405005 for any payment issues.

  5. Geoff Finney added on  September 18th, 2008 at 11:53

    hehe great article-can rely on you Alec!

  6. Ian Brown added on  October 13th, 2008 at 22:11

    Hi All,

    Has anyone spoken to Tony or Tim over last few weeks ? I have covered work for IND Logistics to be stung for £3,000 I have heard a rumour Brian is about to setup business again. Any thought or news on the matter please email me.


    Ian Brown

  7. MTV are and they have been for a long time the worst investment an owner driver could make. You could only get some rubbish work from ParcelForce/Royal Mail. The system itself is miles behind other exchanges. I’d not shed a tear if they go bust…

  8. John Harper added on  April 21st, 2011 at 07:01

    Just been reading about the revived mtvan website. Any thoughts?

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