It is difficult to show that there has been much movement in prices over the last year but at least there has been more interest in purchasing stock by some of the recognised whisky brokers and whisky producers. If you can find a buyer among the independent whisky producers then you are likely to achieve a much better price than from brokers who are basically middle-men. The independents though are likely to be more choosy - wanting samples and wanting regauges if the casks are over 10 years old.
In the past few months we have been able to sell casks direct to producers at often double the price offered by brokers. As in past years producers are looking for the Islay malts - Caol-ila, Ardbeg, Port Ellen and Bowmore. We have not experienced a great deal of interest in the 91 Bruichladdich or in the 90 Isle of Jura.
There has been interest in the 88 and 89 Highland Park but the samples obtained have not been good--all have been very pale showing that the whisky has been matured in old wood possibly third or fourth refill. The oaked Macallan is selling but again the samples produced have exhibit the same problems as the Highland Park. 4 pounds a litre for 89 Macallan appears to be the going rate among whisky brokers but up to 8 pounds a litre if a produce Qcan be found.
Tobermory and the Speyside malt are still proving to be dogs to move. If anyone has managed to get Burn Stewart or Speyside Distillers to buy their casks back we would be interested to hear.
Turning to the Speyside malts there has been some interest in Linkwood, Benrinnes and Glenrothes but no takers for Braes of Glenlivet and Tullibardine. Anyone with a cask of Glenfarclas should be able to achieve at least 5 pounds a litre and about the same for the Aberlour.
We are trying to monitor prices so if you have managed to sell your cask we would be interested to hear. We still have over 2000 casks on our data base without a home.
Subscriptions for 2003-4
With your newsletter you will find a subscription form for 2003-4. Some new members have already paid but if you haven't please help. It would be impossible to continue the helpline without some financial assistance, We still receive many telephone calls, letters and emails. Joanna and I are available to try and answer your queries
between 9am-5pm Mondays to Fridays on 01539 729555
Many thanks for your kind support and encouragement over the past year.
CREDIT CARD CLAIMS AND THE LIMITATION ACT 1980
Most major Banks have now been relying on the six year limitation rule to avoid paying out on whisky claims as it is now six years since the whisky fraud was discovered and companies like Hamilton, Napier and Marshalls closed down. But is this legally correct?
In 2001 the relationship of estoppel to a defence under the Limitation Act 1980 was considered by the Court of Appeal in the case of Cotterrell v Leeds Day. The Court held that the defendants had made a misrepresentation to the appellant in 1990 which they had acted upon therefore an estoppel arose which prevented the defendants from relying upon the Limitation Act.
We have a similar situation with the whisky scam. Misrepresentations were made by whisky companies and investors relied on these statements. Leeds Day were a firm of solicitors in the business of giving legal advice. Hamilton Napier etc held themselves out to be investment advisers. Investors relied on their advice. However the credit card companies did not make any representations our claims were made under connected lender liability in accordance with section 75 of the Consumer Credit Act 1974. The Banks will inevitably try and distinguish this case but if you did pay your deposit by credit card and haven't made a claim yet don't give up all hope. Put a claim in or contact us.
If anyone would like a copy of this case please phone or email us.