romy
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Post by romy on Jun 22, 2018 16:28:09 GMT
mine's not arrived either yet
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pikestaff
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Post by pikestaff on Jun 22, 2018 16:29:45 GMT
There will I believe be a 100% of capital recovery (less defaults which will be subject to legal action to recover). Capital will be returned to lenders once borrowers repay; some have repaid but its not in the accounts as only March and April receipts are shown, 2 loans are/have been refinanced that we know about. It could be anything up to year at a guess to receive capital back from expires loans or earlier if refinanced. Interest is an unknown because that is the source of funding for BDO and to repay creditors eg Col solicitors, IT provider. We are fortunate that interest is the source of income to fund BDO and the creditors. Otherwise costs would have to be paid from lenders capital. BDO are no doubt charging the market rate for their services and have provided a projection of their costs, we have to accept that and not gripe about hourly rates. Some interest may be returned to lenders, I believe we will get some interest but its too early in the process to know what % I like your optimism. Are you that optimistic for the likes of us who cant prove which loans we were in? (Im not being sarky, but seeing as I cant prove what loans Im in I will be seen as an 'unsecured creditor'.) There are no material creditors other than lenders. Subject to the point raised in my earlier post p2pindependentforum.com/post/273100/thread, lenders who are unsecured creditors (if that is what they are decided to be) should not be materially worse off, except to the extent that lenders who can and do prove their trust claims are concentrated in the better loans.
This is because, they should, I think, be in much the same position as they would be if they had a non-specific trust claim over the pool of loans, excluding those loans where specific claims have been proved.
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Post by Butch Cassidy on Jun 22, 2018 16:30:37 GMT
Nothing received here yet. I had sent off to RR copies of the screenshots of all my Loans and cash held totaling a good five figures as well as mailing them photocopies of same, so RR have/had full details of all my holdings. I'm not panicing though. Yet.  Didn't you know bad boys get put to the back of the queue & have to wait until last  Yes I'm still waiting too. but am decamping to the pub now, so will check again tomorrow - most seem happy so far, I guess no unexpected dramas will await.
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Post by tony1974 on Jun 22, 2018 16:31:17 GMT
I know its easy to say but just hang on a little while longer for those who have received nothing. I think as long as you have been receiving the previous emails from BDO then all will be well
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keystone
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Post by keystone on Jun 22, 2018 16:32:17 GMT
I have received mine+1 other now, and both are incorrect.  I have my figures from the start of February, plus I have deposits and withdrawals during February and a number of transaction emails. I am going to spend time over the weekend reconstructing all transaction during February to try to find the discrepancies. Did anyone else who has incorrect figures carry out purchases/sales during February? |
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tx
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Post by tx on Jun 22, 2018 16:47:42 GMT
I think easy-to-generate doesn’t mean no verification. I suspect they still need to verify each.
I haven’t got mine either. But so far the way BDO handling and the information provided is far more professional than RR. Confidence back up a bit, but expectation for recovery down a bit even more. Or maybe should say, more realistic.
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hazellend
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Post by hazellend on Jun 22, 2018 16:53:08 GMT
End if working week. I didn’t get mine yet but maybe we will have to wait till Monday now?
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blender
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Post by blender on Jun 22, 2018 16:59:37 GMT
... PS / EDIT - My surname is at the back end of the alphabet which may explain things. I remember only too well a particularly astute and forward thinking teacher in primary school who had us all line up one day in reverse alphabetical order and I was for once, one of the first to receive an ice cream - the only time in my life. And before they ran out!  I'm guessing Wombat, or just possibly Yabby.
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dawn
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Post by dawn on Jun 22, 2018 17:00:46 GMT
PS / EDIT - My surname is at the back end of the alphabet which may explain things. I remember only too well a particularly astute and forward thinking teacher in primary school who had us all line up one day in reverse alphabetical order and I was for once, one of the first to receive an ice cream - the only time in my life. And before they ran out! Ours is close the start of the alphabet but no emails yet - could it be by investor number? or size of investment?
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Post by brightspark on Jun 22, 2018 17:02:23 GMT
Mine came and figure agreed to the exact penny. I am sending my signed form to 55 Baker street rather than Liverpool. Hope that's correct.
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blender
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Post by blender on Jun 22, 2018 17:04:02 GMT
PS / EDIT - My surname is at the back end of the alphabet which may explain things. I remember only too well a particularly astute and forward thinking teacher in primary school who had us all line up one day in reverse alphabetical order and I was for once, one of the first to receive an ice cream - the only time in my life. And before they ran out! but no emails yet - could it be by investor number? or size of investment? Dawn Breaks?
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Monetus
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Post by Monetus on Jun 22, 2018 17:04:51 GMT
Just a thought. I see BDO have received the loan paperwork from various col solictor which I assume they have totalled in Appendix 2. Might be worth asking if BDO could provide a list of all these loans with the capital outstanding for each to see if there are any missing that were expected. Obviously this will not show which lender is in which loan. I say this as Appendix 2 Assets and Liabilities already shows a capital shortfall and I assume at least some of the money in the accounts are interest payments from borrowers. Also one of the properties and some of the chattel were lent with col money not lender money. I was surprised to see a capital shortfall before BDO etc had applied any fees. Agreed I don't understand how there is a capital shortfall already, where did this come from? Also I am assuming that Col owners and staff had some money lent I hope this didn't leave with them out of the cash till? Same. How are we already 490k in the hole? Is this related to the funds that were allegedly transferred from the client account to one of the Currie's just before they shut everything down? "£390,000.00 was taken from the client accounts on 13th and 26th February.. Stated for business profits"
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Post by tony1974 on Jun 22, 2018 17:09:04 GMT
PS / EDIT - My surname is at the back end of the alphabet which may explain things. I remember only too well a particularly astute and forward thinking teacher in primary school who had us all line up one day in reverse alphabetical order and I was for once, one of the first to receive an ice cream - the only time in my life. And before they ran out! Ours is close the start of the alphabet but no emails yet - could it be by investor number? or size of investment? Defo not size of investment. I have had mine over an hour ago but the wife still waiting for hers. We both have the same 5 figure amounts
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Post by df on Jun 22, 2018 17:12:46 GMT
I have received mine+1 other now, and both are incorrect. I have my figures from the start of February, plus I have deposits and withdrawals during February and a number of transaction emails. I am going to spend time over the weekend reconstructing all transaction during February to try to find the discrepancies. Did anyone else who has incorrect figures carry out purchases/sales during February? The latest record of my funds held in col is dated 2nd Feb and I had a bit more than appears on this form. It is probably due to some loan parts being sold between 2nd and 28th Feb. I remember at that time I was trying to reduce my exposure to property loans. I will accept the figure in this letter, it is most likely to be correct and I don't have any evidence to prove otherwise.
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agent69
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Post by agent69 on Jun 22, 2018 17:15:54 GMT
If somebody at BDO towers is working late to get all the e-mails out today, I hope we don't have to pay time and a half.
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Yes I'm still waiting too. but am decamping to the pub now, so will check again tomorrow - most seem happy so far, I guess no unexpected dramas will await.
I have my figures from the start of February, plus I have deposits and withdrawals during February and a number of transaction emails. I am going to spend time over the weekend reconstructing all transaction during February to try to find the discrepancies. Did anyone else who has incorrect figures carry out purchases/sales during February?
