adrianc
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Post by adrianc on Jan 8, 2019 22:18:25 GMT
Sure, but that's not the FCA's problem. That's down to RR either being utterly incompetent or actively conspiring to hide evidence of fraud. When the FCA applied to the court to replace RR, the court restrict RR's role to collect incoming payments only, with immediate effect. It would have been illegal for RR to continue to pay the IT hosting company. ...which shouldn't have been an issue, because RR should have already had offsite copies safely in their possession.
COL were put into administration on Monday 26th Feb. The court made that order on Friday 16th March (and adjourned the actual hearing until Friday 27th April). I make that three full working weeks for RR to get data secured...
...and then another six full working weeks of limbo until BDO were appointed and anything else could be done by anybody.
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Monetus
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Post by Monetus on Jan 9, 2019 10:13:05 GMT
I believe BDO have sent a reminder email out this week but as a final reminder here also please don't forget to respond to their request by the close of business Friday 11th January.
Every response is important and, if successful, we'll see a greater percentage of our money returned due to a significant reduction in costs.
Unfortunately this process is required due to some "issues" with the way the Collateral platform terms and conditions were put together.
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Post by Please turn me over on Jan 10, 2019 11:40:25 GMT
Thanks for the reminder Monetus, I emailed my agreement to the resolution this morning.
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daveb4
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Post by daveb4 on Jan 10, 2019 21:35:55 GMT
Mine and other halves went in yesterday small but all counts
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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 Jan 11, 2019 2:34:18 GMT
Thanks for the reminder Monetus , I emailed my agreement to the resolution this morning. With 66 posts and 1578 likes have you every thought of standing for PM ..
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Post by beepbeepimajeep on Jan 11, 2019 8:08:25 GMT
With 66 posts and 1578 likes
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ilmoro
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'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 Jan 11, 2019 8:57:41 GMT
Thanks for the reminder Monetus , I emailed my agreement to the resolution this morning. With 66 posts and 1578 likes have you every thought of standing for PM .. Careful, might be a wolf in sheep's clothing 😁
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star dust
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Post by star dust on Jan 11, 2019 17:05:03 GMT
Mod Hat Off/ I am not happy with the conduct or progress of BDO or the apparent powerlessness we have to do anything about them; and am also troubled about aspects of the Credit Committee (nothing whatever to do with Monetus ). However, although I really dislike the idea that by replying in the affirmative I have somehow endorsed their administration, I have just done so as it seems the most pragmatic solution in the circumstances. My stake (although painfully significant to me) is hardly megabucks, but as others have said everything will help, and I certainly wouldn’t want to contribute to an increase of either the already appalling costs, or the time taken, to (hopefully) recover our funds. Let’s just hope it allows them to speed things up (reduce the need for additional court costs at least) and even better start on returning at least some of investors’ funds well before the end of all this.
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Post by brightspark on Jan 11, 2019 20:46:51 GMT
Your posting reflects my own dwindling expectations. I fear the investment has to be written off.
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Post by charliebrown on Jan 20, 2019 12:18:22 GMT
Your posting reflects my own dwindling expectations. I fear the investment has to be written off. Agree. BDO are the only party who will make anything from the “recovery”. Thanks again FCA you’ve really “protected” investors with your swift actions. Awesome job 👏
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gareot
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Post by gareot on Jan 20, 2019 15:19:00 GMT
Your posting reflects my own dwindling expectations. I fear the investment has to be written off. Agree. BDO are the only party who will make anything from the “recovery”. Thanks again FCA you’ve really “protected” investors with your swift actions. Awesome job 👏 And don't forget we can't even offset losses against interest earned due to FCA incompetence!!!
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duck
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Post by duck on Jan 20, 2019 17:09:18 GMT
Agree. BDO are the only party who will make anything from the “recovery”. Thanks again FCA you’ve really “protected” investors with your swift actions. Awesome job 👏 And don't forget we can't even offset losses against interest earned due to FCA incompetence!!! So I take it you have joined the growing number who have contacted the TSC and complained to the FCA? That said the point you have made is very valid, every extra £ that BDO spends is one extra £ that an investor can't offset. I've despaired when people have wanted BDO to give out wording/figures so that people can complete their tax forms. That will cost with the end results that tax will be payable and non offsettable losses will be greater. Investor looses out twice
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gareot
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Post by gareot on Jan 20, 2019 19:06:49 GMT
And don't forget we can't even offset losses against interest earned due to FCA incompetence!!! So I take it you have joined the growing number who have contacted the TSC and complained to the FCA? That said the point you have made is very valid, every extra £ that BDO spends is one extra £ that an investor can't offset. I've despaired when people have wanted BDO to give out wording/figures so that people can complete their tax forms. That will cost with the end results that tax will be payable and non offsettable losses will be greater. Investor looses out twice Yep -All members of TSC emailed. I didn't duck the issue so too speak. I had to guesstimate how much tax I owed for my tax return & it was a higher rather than lower . Didn't fancy facing giving HMRC any ammunition in the future as now nearing the end of my self-employed working life.( I've heard horror stories from other self-employed about the interrogations. )
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Post by charliebrown on Jan 21, 2019 22:20:48 GMT
Sounds like the FCA created this mess to generate some revenue for their mates at BDO. I see no evidence that BDO has commenced any type of recovery action as yet. Once they do, we’ve seen from other platforms that there’s many avenues open to borrowers to dispute liability, dig their heels in and at the very least delay the recovery process for years. All this is music to BDO’s ears as they keep turning the wheels and collecting their astronomical fees. End result, a very nice little earner for BDO and a total non-tax-deductible loss for investors.
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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 Jan 22, 2019 0:48:47 GMT
Sounds like the FCA created this mess to generate some revenue for their mates at BDO. I see no evidence that BDO has commenced any type of recovery action as yet. Once they do, we’ve seen from other platforms that there’s many avenues open to borrowers to dispute liability, dig their heels in and at the very least delay the recovery process for years. All this is music to BDO’s ears as they keep turning the wheels and collecting their astronomical fees. End result, a very nice little earner for BDO and a total non-tax-deductible loss for investors. Careful Charlie." created this mess to generate some revenue for their mates at BDO." Has no evidence and you may be on slightly dodgy legal grounds
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