Car dealership seeks to repossess Tiuta broker prize

Car dealership seeks to repossess Tiuta broker prize


In October 2011, short term lender Tiuta Plc awarded a prize to one of its brokers after all introducers who completed deals with the lender were entered into a prize draw.

The winning broker, Paul McGonigle, of Positive Lending, won a brand new ‘61’ registration Mini Cooper.

The lender entered into administration in September 2012, however, after its main source of funding – Connaught Income Fund – was suspended. 

Since winning the car, Mr McGonigle has recently been contacted by the company that Tiuta sourced the Mini from.

The dealership informed him that he was not insured to drive the car because Tiuta had not yet paid the final instalment in the vehicle’s cost.

Following this correspondence, Mr McGonigle organised payment for the final instalment for the car so that it was no longer connected to Tiuta and he was insured to drive it.

B&C was informed that Mr McGonigle has recently sold the car.

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