Monetus
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Post by Monetus on Dec 17, 2018 11:43:25 GMT
What convinced the committee that the current and future fees are OK? The approval was for current fees up to the date of the first Creditors Committee meeting. Future fees will of course be reviewed and monitored by the Committee on an ongoing basis.
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Post by p2psavvy on Dec 17, 2018 15:12:55 GMT
Thanks for the answer Monetus . Were the committee provided with any breakdown of the fees to date? I was quite interested in the what the PR fees were spent on.
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Monetus
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Post by Monetus on Dec 17, 2018 15:14:15 GMT
Were the committee provided with any breakdown of the fees to date? Yes
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Post by johnrambo on Dec 25, 2018 18:54:02 GMT
Dear Monetus
Merry Christmas and thank you for all the information you have provided here. Was there any feedback on accounts with money not invested into any loans? I remember there was talk that this would be safeguarded and paid back first - is that still the case?
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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 Dec 25, 2018 19:19:51 GMT
Dear Monetus Merry Christmas and thank you for all the information you have provided here. Was there any feedback on accounts with money not invested into any loans? I remember there was talk that this would be safeguarded and paid back first - is that still the case? Welcome Johnrambo to this bunch of happy (Sometimes) cross section of Investors. You are doing well so far by identifying Monetus as one of the most helpful contributors along with Dan1 that do considerable work on our behalf. There are a few others that work hard as well and I join you in wishing them and the rest of us Seasons Greetings and a profitable New Year We could do with a relentless saviour to save us all. So I hope you live up to your name.
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Post by johnrambo on Dec 25, 2018 21:02:30 GMT
Dear Monetus Merry Christmas and thank you for all the information you have provided here. Was there any feedback on accounts with money not invested into any loans? I remember there was talk that this would be safeguarded and paid back first - is that still the case? Welcome Johnrambo to this bunch of happy (Sometimes) cross section of Investors. You are doing well so far by identifying Monetus as one of the most helpful contributors along with Dan1 that do considerable work on our behalf. There are a few others that work hard as well and I join you in wishing them and the rest of us Seasons Greetings and a profitable New Year We could do with a relentless saviour to save us all. So I hope you live up to your name. Thank you godanubis! Of course I thank everyone for their contributions to this thread - without which I would still be struggling for any info! Of course not only am I johnrambo I do possess some Database skills which could help with Data recovery ( I am still shocked that 8 months down the line this is still not complete!)
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Post by red on Dec 26, 2018 13:10:32 GMT
Of course not only am I johnrambo I do possess some Database skills which could help with Data recovery ( I am still shocked that 8 months down the line this is still not complete!) They need to justify their fees, slow progress and lack of updates somehow. CC have signed a NDA so can't tell us anything meaningful and are nothing more than a minor inconvenience to BDO. Any inefficiency and excessive fees will only come to light on the back end of this debacle. BDO will scaremonger the CC with tales of the fee budget running tight and inevitable court action to approve higher budgets unless the CC agree to increased costs. The CC agree, trying their best to save every last penny they can for investors. BDO continue to squeeze the most they can out of the situation until they think they've pushed it far enough. Give it another 6 months and it'll be a rinse and repeat regarding requests for more money for costs.
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hendragon
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Post by hendragon on Feb 26, 2019 11:11:40 GMT
Monetus do we have a date for the next cc meeting?
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picnicman
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Post by picnicman on Feb 26, 2019 11:22:33 GMT
Monetus do we have a date for the next cc meeting? Its 12 March - Cheers P Monetus - will you be asking for questions? I think the one on most investors minds is when they can expect repayments - hopefully chattels have been valued and sold by now? Cheers P
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hendragon
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Post by hendragon on Feb 26, 2019 11:26:05 GMT
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michaelc
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Post by michaelc on Feb 26, 2019 17:14:47 GMT
Monetus do we have a date for the next cc meeting? Its 12 March - Cheers P Monetus - will you be asking for questions? I think the one on most investors minds is when they can expect repayments - hopefully chattels have been valued and sold by now? Cheers P But how are poor BDO going to put food on their table?
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jonno
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nil satis nisi optimum
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Post by jonno on Feb 26, 2019 17:24:18 GMT
Its 12 March - Cheers P Monetus - will you be asking for questions? I think the one on most investors minds is when they can expect repayments - hopefully chattels have been valued and sold by now? Cheers P But how are poor BDO going to put food on their table? Why use a table when you can fill a whole trough?
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btc
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Post by btc on Mar 6, 2019 11:34:43 GMT
These meetings are just a smoke screen, they are a waste of time and effort. When will we actually see progress?
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gc
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Post by gc on Mar 6, 2019 18:11:09 GMT
These meetings are just a smoke screen, they are a waste of time and effort. When will we actually see progress? Welcome to the finance world, where people have meetings to arrange meetings so as to have more meetings, just to waste time and in this case, money..... (Actually, that happens within most corporations)
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7d7
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Post by 7d7 on Mar 7, 2019 12:04:21 GMT
Apparently, questions have not been invited for the meeting next week. It therefore seems like another opportunity to approve further fees. As mentioned below, there will be future fees for the CC to consider and we will not be given a valid reason. The idea of supporting BDO to avoid possible charges from the High Court is getting a little old. What convinced the committee that the current and future fees are OK? The approval was for current fees up to the date of the first Creditors Committee meeting. Future fees will of course be reviewed and monitored by the Committee on an ongoing basis
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