ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Oct 15, 2020 13:21:14 GMT
For the Apologists out there (are there any left?), I would just like to say that I met with the above back in the day in their offices.
They know, and knew, exactly what they're doing.
Which is probably why Noman left. Remember him?
I thank you.
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micky
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Post by micky on Oct 15, 2020 13:27:27 GMT
For the Apologists out there (are there any left?), I would just like to say that I met with the above back in the day in their offices. They know, and knew, exactly what they're doing. Which is probably why Noman left. Remember him? I thank you. Have they had their assets frozen yet?
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Mousey
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Post by Mousey on Oct 15, 2020 13:32:34 GMT
Luxmore has ...
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rogerthat
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Post by rogerthat on Oct 15, 2020 16:42:25 GMT
@mousey ..I wont sully your recent claim thread so can I just ask..is this relating to the platform loans across the board..in other words the operandis mondi of the individuals or particular loans ?..thanks
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Mousey
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Post by Mousey on Oct 15, 2020 16:46:58 GMT
@mousey ..I wont sully your recent claim thread so can I just ask..is this relating to the platform loans across the board..in other words the operandis mondi of the individuals or particular loans ?..thanks Unfortunately the claims within the case are private so I'm not sure on what ground the freezing injunction was made. Confirmation of the injunction was made by the Administrators in their report and (now removed from) FAQ.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Oct 15, 2020 16:48:45 GMT
For the Apologists out there (are there any left?), I would just like to say that I met with the above back in the day in their offices. They know, and knew, exactly what they're doing. Which is probably why Noman left. Remember him? I thank you. Have they had their assets frozen yet? I have no idea, but AFAIK you have to be under "investigation" for such freezings to occur? Also, AFAIK, it's only the Lendy Directors who have had assets frozen so far in P2P? I have said it before, until the FCA/Police get serious and prosecute & jail several P2P Directors, "Professional" Valuers, Borrowers, and perhaps an Introducer or three, nothing will ever change in P2P. You really do invest at your peril.
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james100
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Post by james100 on Oct 15, 2020 17:35:25 GMT
Spice boys also in it up to their absolute nuts and CUK will be first/test case of how far FCA will hold the industry and associated groupies accountable. IMHO.
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adrian77
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Post by adrian77 on Oct 15, 2020 18:58:43 GMT
Because of this farce I refuse to invest in any P2P product until the FCA actually do something rather than make excuses for doing nothing.
I think P2P could have been a great success but people got greedy and because the (our) money was not safeguarded as per the banks it was just too tempting for spivs and chancers to play Russian Roulette - same old story...
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ozboy
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Post by ozboy on Oct 15, 2020 22:05:59 GMT
As far as I could observe over an hour, Hackett seemed the more dominant Director. And far more culpable I believe for what has happened.
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micky
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Post by micky on Oct 15, 2020 22:14:12 GMT
I've just read -Administration - State of Play & Significant Information (FS)- rs comments on Nov 14 2019.
22. What is happening with the case against Luxmore? - I'm presuming that the alleged misappropriation of funds is his reputed 200k company loan to his ex-wife.
The litigation (and the benefit of the freezing orders obtained) has been secured by the Administrators pending the review of the litigation which is ongoing. It would be inappropriate for the Administrators to comment further at this stage in open forum.
23. I understand that Luxmore's assets of ca. £1.5M have been frozen. Whilst trying to avoid a witchhunt, I have some concerns that Raj remains heavily involved and close to CG because he may want to maximise the creditor pot if he has a lot of claim on that.
Please see the answers above regarding the involvement of Directors and former Directors. The position of the Investors and creditors claims and potential claims is to be addressed as set out in the Proposals.
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adrian77
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Post by adrian77 on Oct 16, 2020 10:35:20 GMT
so do I and that is putting it midly - I note this gent has several dissolved companies and seems to now be into property development and finance - so we have a creditor and former director of a company that arranges loans for property developments of which many were complete non-starters. Doubtless agents were used to finance some of these loans and fees were paid there (not saying by whom or to whom) and now these developers are laughing all the way to the bank and FS is claiming 5% of a £80m loanbook a staggering £4m - what could possibly be going on here - I just can't work it out but I am pretty thick.
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jcb208
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Post by jcb208 on Oct 16, 2020 11:05:31 GMT
Without going off subject to much has any one any info regarding the Reading loan made to Luxmore or has the company ****** us of our money and got the property for free
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micky
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Post by micky on Oct 16, 2020 11:35:27 GMT
How come Hackett seems to be getting of scot free and paid by CG for working with them?
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michaelc
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Post by michaelc on Oct 16, 2020 14:13:13 GMT
Without going off subject to much has any one any info regarding the Reading loan made to Luxmore or has the company deceived us of our money and got the property for free No new information but I find it hard to believe a small residential dwelling in Reading couldn't easily be sold. I was ****** out of my money as I learned afterwards I was actually lending/giving my money to the owner of the company. Isn't that a direct ***** ?
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iRobot
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Post by iRobot on Oct 16, 2020 15:54:42 GMT
Without going off subject to much has any one any info regarding the Reading loan made to Luxmore or has the company deceived us of our money and got the property for free No new information but I find it hard to believe a small residential dwelling in Reading couldn't easily be sold. I was ****** out of my money as I learned afterwards I was actually lending/giving my money to the owner of the company. Isn't that a direct <redacted> ? Hmmmn - a refresh of the facts might be wise?. The loan was to " a person connected to an ex-director of FundingSecure. (Richard Luxmore)" -- my bold -- rather than the director (at the time) himself. Agreed, that's possibly little more than a technicality, but on such things are legal cases won and lost. Of greater concern, I think, is the status of the loan documentation and its effect on appointing Receivers; and seemingly still in that situation 8m on from when lenders were first advised. Even if not sold, the rental income would prove handy. ( fundingsecure2 ?)
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