toffeeboy
Member of DD Central
Posts: 505 
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Post by toffeeboy on Nov 16, 2023 12:10:43 GMT
Just had an email with an update and some tranches have been released for M2 loans.
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Post by davefoz on Nov 16, 2023 13:42:55 GMT
Am I right in assuming 25% of all recovered funds are still retained so we should expect approx 33% of the the previous distributions to be eventually sent to us?
Are there any loans where there hasn’t been a recovery yet?
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Post by Ace on Nov 16, 2023 13:46:46 GMT
Am I right in assuming 25% of all recovered funds are still retained so we should expect approx 33% of the the previous distributions to be eventually sent to us? Are there any loans where there hasn’t been a recovery yet? The last column of the table at the bottom of today's email detailing the latest payments is titled "Final distribution".
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tony9239
Member of DD Central
Posts: 101
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Post by tony9239 on Nov 16, 2023 15:28:02 GMT
Just had an email with an update and some tranches have been released for M2 loans. Can anyone explain these latest distributions? The amounts don't seem to correspond to the 25% withheld from the previous distributions and there's a column in the table of today's distribution stating "Retention of 25%" which seems to imply that 25% has been withheld from today's distribution as well. Then again, the final column states "Final Distriobution". Confusing, or what?
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jcb208
Member of DD Central
Posts: 820
Likes: 606
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Post by jcb208 on Nov 16, 2023 15:39:41 GMT
Will come a time when RSM will not be able to extract anymore of our money for the christmas party,hope they make the most of it.P2P has been a very costly lesson
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rocky1
Member of DD Central
Posts: 1,120
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Post by rocky1 on Nov 16, 2023 16:21:31 GMT
RSMs motto THE POWER OF BEING UNDERSTOOD. i have not understood most of the sh*t that has gone on during this administration or any of the others come to think of it.
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travolta
Member of DD Central
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Post by travolta on Nov 16, 2023 17:47:34 GMT
Scraped up another £100 of the thousands still adrift .
Final distribution?
Surely somemore to come?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,854
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Post by ilmoro on Nov 16, 2023 20:44:12 GMT
Just had an email with an update and some tranches have been released for M2 loans. Can anyone explain these latest distributions? The amounts don't seem to correspond to the 25% withheld from the previous distributions and there's a column in the table of today's distribution stating "Retention of 25%" which seems to imply that 25% has been withheld from today's distribution as well. Then again, the final column states "Final Distriobution". Confusing, or what? The calculations supersede anything that has gone before. The 25% is the same as the 25% shown in the previous calculations. There were two elements to the previous calculations, the 25% retention to cover general & combined costs which, bar a few minor changes to reflect additional funds available are the same as previously communicated, and the residual balance that remained after RSM had distributed the agreed 65% of recoveries to lenders. This residual balance was to cover costs specific to the loan, as these have now been agree, the sum remaining after their deduction has been returned to lenders. The 25% will continue to be retained until the recovery of all M2 loans is complete, including third party claims, when any sums left over after fees/costs will be distributed. Its a final distribution for the individual loans but there may be a final general distribution at the end ... and then a final final distribution if there is any money available to pay unsecured creditors (which now includes lenders)
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,854
Likes: 11,083
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Post by ilmoro on Nov 16, 2023 20:48:56 GMT
Am I right in assuming 25% of all recovered funds are still retained so we should expect approx 33% of the the previous distributions to be eventually sent to us? Are there any loans where there hasn’t been a recovery yet? No, any further payouts for these loans will depend on the costs & fees of the administration, there is no fixed % No, all loans have had a recovery (zero in two cases) but two loans have not yet made any distributions
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jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,744
Likes: 3,136
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Post by jonno on Nov 27, 2023 12:20:14 GMT
Latest withdrawal arrived this morning  |
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min
Member of DD Central
Posts: 603
Likes: 170
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Post by min on Nov 27, 2023 15:32:46 GMT
Latest withdrawal arrived this morning Lucky you. Nothing here.
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Post by bodroll on Nov 30, 2023 15:58:42 GMT
Email received today:
The team are currently receiving a considerable number of withdrawal requests. There's nothing available for me, so am I missing something here?
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Post by Badly Drawn Stickman on Nov 30, 2023 17:20:31 GMT
Email received today:
The team are currently receiving a considerable number of withdrawal requests. There's nothing available for me, so am I missing something here?
Relates to a pay out some days ago. If you have nothing to withdraw it is irrelevant to you. And arguably not breaking news to those of us waiting in truth. No doubt chargeable though.
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trevor
Member of DD Central
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Post by trevor on Dec 5, 2023 16:31:48 GMT
My ‘recent’ withdrawal just arrived
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brush
Member of DD Central
Posts: 171
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Post by brush on Dec 6, 2023 11:12:34 GMT
Ditto |
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