tx
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Post by tx on Nov 13, 2019 20:34:39 GMT
Quiet here, just wondering any updates on any aspects...
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averageguy
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Post by averageguy on Nov 13, 2019 22:11:50 GMT
Now that "The database has been recovered and all accounts reconciled", would we have access to our Accounts on the Platform or a statement of Account Transactions in the near future (next few weeks, rather than months). Yes BDO are planning on sending out a report to all investors showing their individual position as soon as feasible. Weeks or months? TIA
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oldtimer
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Post by oldtimer on Nov 14, 2019 6:52:04 GMT
Will they send the report by email or post?
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shimself
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Post by shimself on Nov 14, 2019 7:43:25 GMT
Will they send the report by email or post? The report will be sent to investor Aardvark, who will be obliged to pass it on the following day to Absalom and so in.
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kaya
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Post by kaya on Nov 14, 2019 9:42:28 GMT
Yes BDO are planning on sending out a report to all investors showing their individual position as soon as feasible. Weeks or months? TIA Overly optimistic sir.
Years!
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averageguy
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Post by averageguy on Nov 14, 2019 13:45:40 GMT
Overly optimistic sir.
Years! LOL...quite possibly! I hadn’t seen the post re BDO to send a breakdown of loans held ..and a poster had asked weeks/months? I was wondering when ‘’feasible’’ is ..in a nice way that is
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Post by investor1925 on Nov 26, 2019 16:46:44 GMT
zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
Please forward all communications to my executor
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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 Nov 26, 2019 17:38:13 GMT
We might get a good Christmas present. (Other religious festivals available) ...... Not sure which year though.
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Post by waryinvestor on Nov 27, 2019 16:28:52 GMT
When will we be contacted by BDO regarding what the update is. I have not received any correspondence from them for the last (circa) 12 months? If you haven't seen it BDO sent a letter to all known investors and creditors on 24/4/19. You will find the document on the BDO website. Basically they were moving from Administration to Liquidation and would provide a further report in 12 months time. Also how much it was all costing. No-one so far as I know has yet received a single penny. Does that (Liquidation) mean that they can simply wind down the Company without ever paying a penny ?
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Post by waryinvestor on Nov 27, 2019 16:38:22 GMT
Now that "The database has been recovered and all accounts reconciled", would we have access to our Accounts on the Platform or a statement of Account Transactions in the near future (next few weeks, rather than months). Yes BDO are planning on sending out a report to all investors showing their individual position as soon as feasible. It's almost a month now and still no updates. I assume this is not blocked by NDA (as to when would the updates come) ?
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jcb208
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Post by jcb208 on Nov 27, 2019 18:19:33 GMT
Communication from BDO is really poor .Just about given up with them now and cant see much return .I hope we can get some address from the FCA
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tx
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Post by tx on Nov 30, 2019 10:46:27 GMT
I know BDO not obliged to give update during liquidation, but they can at least say when is the next communication?
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ceejay
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Post by ceejay on Dec 1, 2019 15:53:55 GMT
If you haven't seen it BDO sent a letter to all known investors and creditors on 24/4/19. You will find the document on the BDO website. Basically they were moving from Administration to Liquidation and would provide a further report in 12 months time. Also how much it was all costing. No-one so far as I know has yet received a single penny. Does that (Liquidation) mean that they can simply wind down the Company without ever paying a penny ? AIUI the move from Administration to Liquidation is a largely technical move which essentially confirms that they've given up on the hope (not that there ever was one) of reviving the company. It doesn't change their obligation to do their best to recover as much as possible for stakeholders including lenders. Any monies recovered, minus costs, must be appropriately distributed. That tells you nothing, of course, about how much we might get back or when we'll get it!
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gc
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Post by gc on Dec 9, 2019 12:10:23 GMT
On a positive note, it has only taken their team 18 months to recover the database, so at this rate we should be getting any outstanding monies, anytime now ..... (and no, I have not yet taken my meds today!) A less trusting person could assume that this is almost some sort of money syphoning exercise by the administrators!
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shimself
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Post by shimself on Dec 9, 2019 14:01:10 GMT
On a positive note, it has only taken their team 18 months to recover the database, so at this rate we should be getting any outstanding monies, anytime now ..... (and no, I have not yet taken my meds today!) A less trusting person could assume that this is almost some sort of money syphoning exercise by the administrators! Watching RSM now running up (100k?) of chargeable time just in case you could interpret lendy's p2p loans as not in fact being p2p after all. The FS lot so far seem OK
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