Mousey
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Post by Mousey on Jan 28, 2020 10:17:44 GMT
1) He's being discharged from bankruptcy next month. 2) As it was a deceitful breach of contract the debt survives the bankruptcy
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pa
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Post by pa on Jan 28, 2020 10:42:33 GMT
From the citizen advice website below...so it depends if its approved or not...I can guess the answer
Type of pension Most types of pension schemes are classed as approved. If your pension is approved, your pension funds won't be counted as an asset in the bankruptcy.
If your pension scheme isn't approved, the trustee can claim the funds in it as a lump sum of property, although you may have options for protecting some or all of it. You should get legal advice about this.Forgive me and please correct me if I have misunderstood this episode. I’m only on the hook for £25 in this one so have not been following it as closely as others on this thread obviously have. Is there an avenue (hypothetically, allegedly, etc...) for pursuit of funds in a pension “if” a crime has been committed – ie fraud – rather than a bankruptcy? Could a case be made (if it could be proven) that contributions were effectively a proceed of crime. I don’t know. It’s just seems to my legally unqualified general impression of things that losing all your money and the method that you obtained money are different issues.
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foolsgold
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Post by foolsgold on Jan 28, 2020 10:55:28 GMT
1) He's being discharged from bankruptcy next month. 2) As it was a deceitful breach of contract the debt survives the bankruptcy
That sounds promising.
If that is the case whats to stop them employing a no win no fee solicitor and get our cash back ?
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pip
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Post by pip on Jan 28, 2020 13:05:10 GMT
Today's update seems to say one thing to me: the money is gone
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Mousey
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Post by Mousey on Jan 28, 2020 13:09:58 GMT
So the borrower for the microsculpture loan a Mr L*** had a meeting with FS director Richard Luxmore on 11/10/16 during which the borrower introduced a Mr G**** to Luxmore. Mr G**** subsequently took out £2.3m worth of art loans..... Mr L*** was paid a commission for the introduction.
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adrian77
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Post by adrian77 on Jan 28, 2020 13:12:59 GMT
A good question - here's another one - why the hell hasn't this muppet been arrested - not only for this but also recalled to the UK so the FBI can get their hands on him for money laundering
As also posted FS should be sued for gross incompetence/theft of our money, their possession seized and made bust
There is no excuse whatsoever for FS lending £2.3m of our money against an IOU and then not even ensuring this muppet owned them before these items were put into storage- I seem to recall when I asked about this I was told they were in FS storage - well they clearly weren't!
Gordon Bennett these latest posts have really made my day - NOT!
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Post by dan1 on Jan 28, 2020 13:23:51 GMT
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crazi
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Post by crazi on Jan 28, 2020 21:09:41 GMT
Update 28/1/20
The case against this Borrower is still pending. The adjournment of committal for his contempt of court has now expired and the court may now list his sentencing hearing at any time. The Administrators solicitors have reviewed the file and have gone on the court record as acting in connection with this matter and will address any issues arising accordingly. As the Borrower is bankrupt and there are no available assets reported in his bankruptcy, the likely realisations from this case are minimal. There has been some interest expressed is purchasing these rights of action and these are being investigated by the Administrators. Further updates will follow as matters progress.
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My understanding is that it was reported in the press that the Borrower has an £8.5M pension fund! The courts have already seized a pension fund in a similar case to pay back creditors.
Why are we not pursuing his pension fund? or is it just CG&Co aren't paying any attention?
Then off course there should be legal action against FS if there is any loss. Professional negligence. Does anyone know if FS had professional indemnity insurance when still trading?
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adrian77
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Post by adrian77 on Jan 29, 2020 13:29:14 GMT
See my FS DD post but there is an update which involves the litigation being transferred to another party who will give FS a majority cut if successful - hopefully this one is not a lost cause!
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adrian77
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Post by adrian77 on Jan 30, 2020 13:14:27 GMT
As a matter of interest there is a court case tomorrow bought by F****ing Not Square regarding a North London hotel farce where they is a lot of similarity between their case and several of ours viz - serial bankrupts shafting the lender with dodgy contracts/claims and trying to avoid any repayment - will be interested to see how they get on - my money is that it will be postponed yet again - only been going on for 4 years!
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Jan 30, 2020 14:25:21 GMT
As a matter of interest there is a court case tomorrow bought by F****ing Not Square regarding a North London hotel farce where they is a lot of similarity between their case and several of ours viz - serial bankrupts shafting the lender with dodgy contracts/claims and trying to avoid any repayment - will be interested to see how they get on - my money is that it will be postponed yet again - only been going on for 4 years! I tended to put this out of mind. I think I had about 5K in this “A” rated loan It would be a nice surprise to get an unexpected payment no matter what. I just keep minimal amount in FC to get the occasional recovery. I restrict my profit making with FC to trading their shares.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jan 30, 2020 14:55:20 GMT
Unless I have the completely wrong end of the stick, which is entirely possible, the Administrators seem to me to be rolling over on this and not "pursuing"? Whatever happened to the reputed £8 Million+ Pension pot that was legally up for grabs to settle this anushole's debt/s?
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pip
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Post by pip on Jan 30, 2020 15:10:36 GMT
As a matter of interest there is a court case tomorrow bought by F****ing Not Square regarding a North London hotel farce where they is a lot of similarity between their case and several of ours viz - serial bankrupts shafting the lender with dodgy contracts/claims and trying to avoid any repayment - will be interested to see how they get on - my money is that it will be postponed yet again - only been going on for 4 years! I tended to put this out of mind. I think I had about 5K in this “A” rated loan It would be a nice surprise to get an unexpected payment no matter what. I just keep minimal amount in FC to get the occasional recovery. I restrict my profit making with FC to trading their shares.Next thing you have claimed to make money on when clearly you have lost. Bit of a trend.
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adrian77
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Post by adrian77 on Jan 30, 2020 16:10:51 GMT
you must have gone short ! 52 week high 410p current price 80.60p
I pulled out of FC before I went into FS - can't be worse I thought what an idiot I was! Good luck with your £5K - you'll need it!
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adrian77
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Post by adrian77 on Jan 30, 2020 16:15:22 GMT
Whatever happened to the reputed £8 Million+ Pension pot that was legally up for grabs to settle this anushole's debt/s?
Nothing ! As of today this is not looking good to me but see comments in FS DD
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