ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on May 7, 2020 11:26:57 GMT
Good friends and investors.Being a bit slow on the uptake, where do I find the latest info re this catastrophe ? Is there a administrators report ? Thanks in advance There isn't any other than the Comms to specific investors regarding account recovery. The liquidators report is due June IIRC which is the next scheduled info.
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Post by webbski9 on May 8, 2020 8:37:06 GMT
Thanks for your help
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averageguy
Member of DD Central
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Post by averageguy on Jun 2, 2020 22:05:27 GMT
dualinvestor Wrote: The Joint Liquidators provided a update to the Creditor's committee by email last night, it extended to 11 pages and goes into detail on asset realisations, investigations and possible distributions to lenders/investors. It is subject to the NDA that all members have signed however I can say that generally nearly all property assets have either been sold or are subject to offers but some are unlikely to be completed for a while, all chattel assets are under their control, in respect of completed realisations a interim distribution is being contemplated but some details need to be resolved before that can happen. Investigations as required by the Insolvency Act are continuing and a report will be sent to all creditors on or before 10 June 2020.just over a week maximum
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michaelc
Member of DD Central
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Post by michaelc on Jun 3, 2020 19:15:14 GMT
My guess is it will be summarised as "....lots of really good progress but tons of more expensive work to do..."
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averageguy
Member of DD Central
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Post by averageguy on Jun 9, 2020 9:27:15 GMT
dualinvestor Wrote: The Joint Liquidators provided a update to the Creditor's committee by email last night, it extended to 11 pages and goes into detail on asset realisations, investigations and possible distributions to lenders/investors. It is subject to the NDA that all members have signed however I can say that generally nearly all property assets have either been sold or are subject to offers but some are unlikely to be completed for a while, all chattel assets are under their control, in respect of completed realisations a interim distribution is being contemplated but some details need to be resolved before that can happen. Investigations as required by the Insolvency Act are continuing and a report will be sent to all creditors on or before 10 June 2020.just over a week maximum Tick tock tick tock.....
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sjg
Member of DD Central
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Post by sjg on Jun 10, 2020 14:23:23 GMT
Still ticking Or perhaps it will be an update of all the loans we were invested in which was expected early 2020. My calendar shows it's mid 2020 now!! Or perhaps on a really positive note we may be getting some money back.. then again perhaps not. although it is not really funny.
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travolta
Member of DD Central
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Post by travolta on Jun 10, 2020 15:44:14 GMT
ah ,but Covid !9 is the excuse that kills all progress dead in its tracks. plonk!
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Post by classikon on Jun 10, 2020 16:06:46 GMT
Feel like I've been patiently visiting this forum forever waiting for meaningful updates on collateral. It's got to the point where I've felt the need to register I'm going to be really annoyed if I don't receive anything today. I can't believe I haven't even received anything re my own investments yet.
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averageguy
Member of DD Central
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Post by averageguy on Jun 10, 2020 18:32:19 GMT
Feel like I've been patiently visiting this forum forever waiting for meaningful updates on collateral. It's got to the point where I've felt the need to register I'm going to be really annoyed if I don't receive anything today. I can't believe I haven't even received anything re my own investments yet. How’s being really annoyed.
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chris1200
Member of DD Central
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Post by chris1200 on Jun 10, 2020 18:33:56 GMT
Feel like I've been patiently visiting this forum forever waiting for meaningful updates on collateral. It's got to the point where I've felt the need to register I'm going to be really annoyed if I don't receive anything today. I can't believe I haven't even received anything re my own investments yet. How’s being really annoyed. The day isn't over quite yet! Edit: Okay, I guess we can call it... Ugh
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amanda373
Anyone downloaded the full transcript of the Court Session with the FCA. .?
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Post by amanda373 on Jun 10, 2020 19:47:34 GMT
Feeling frustrated ! Poor way to treat us all.
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Post by classikon on Jun 10, 2020 21:35:37 GMT
Feel like I've been patiently visiting this forum forever waiting for meaningful updates on collateral. It's got to the point where I've felt the need to register I'm going to be really annoyed if I don't receive anything today. I can't believe I haven't even received anything re my own investments yet. How’s being really annoyed. I'm going to have to get used to it I guess dualinvestor do you know what the hold up is?
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7d7
Member of DD Central
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Post by 7d7 on Jun 12, 2020 5:36:19 GMT
stevefindlayIn an update provided to all CC members in April, it was mentioned in dualinvestor’s summary that the statutory report due this month would be published on or before the 10th. Nevertheless, the report has not materialised. Do do you know why BDO has failed to meet its obligation to provide a prompt report for the first year of liquidation? They have been in the second year since the 10th of last month. Have the Joint Liquidators responded to the questions posed earlier in this thread vis-a-vis fees on 29th March as well as investor schedules, chattels, distributions and communications on 23rd April? Thanks
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amphoria
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Post by amphoria on Jun 12, 2020 15:40:30 GMT
According to the The Insolvency (England and Wales) Rules 2016, the liquidator has 2 months in which to deliver the progress report after the end of each 12 month period (see Clause 18.7). The one month deadline refers to the six monthly Administration reports.
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averageguy
Member of DD Central
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Post by averageguy on Jun 15, 2020 18:19:57 GMT
Personally I’d be grateful for someone from the CC to perhaps contact BDO and ask why the report our whatever its supposed to be....lenders lists etc has not been provided by the indicated date....anyone from CC read this forum?
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