ilmoro
Member of DD Central
'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 Mar 9, 2019 2:04:07 GMT
Very quiet over here. So apparently these have been sent out to some investors today. Ive not received anything.
Based on Purple reports there are significant discrepancies with loan parts for sale, univested cash not showing in totals. Totals diverge from those provided on proof of debt.
Anyone here received their breakdown? Is it correct?
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Post by Proptechfish on Mar 9, 2019 5:58:55 GMT
Have these gone out by post ?
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duck
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Post by duck on Mar 9, 2019 6:05:02 GMT
Have these gone out by post ? Email presumably since the initial proof of debt was provided that way. I've received nothing for my 3 accounts.
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Post by Proptechfish on Mar 9, 2019 6:07:56 GMT
Thanks. Just looked at the purples and all I can say is wow. Searching emails now...
I've got nothing, but I'm relatively small fry maybe it just went out to the BH 1st.
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Post by Proptechfish on Mar 9, 2019 6:23:02 GMT
Taken from the other place
"BDO just sent out a letter with an attached spreadsheet.
They apparently retrieved the data and are communicating them to the Collateral users.
Unfortunately it appears that the new (retrieved) data are TOTALLY WRONG.
In my case the spreadsheet is over 5k £ off, while the initial estimate was close to the penny to my records.
And this means, once again, a lot of work to demonstrate what is due.
I honestly cannot stand these people."
Email address to search INVESTORCOLLATERAL@bdo.co.uk
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Post by sebulon on Mar 9, 2019 8:18:26 GMT
Unpleasant email from BDO yesterday.
Last summer they told my exposure to Collateral platform is £23,367.43. This was very close my own assessment.
Now they tell it is much smaller: only £9,330.66. Huge drop.
I sent them my transfer transactions to and from Collateral, hope it clarifies
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Anyone else got similar bad news?
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travolta
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Post by travolta on Mar 9, 2019 8:25:50 GMT
No more information so far... I have just over £5000 invested . Bleak House all over again... I think I'd rather have lost the dosh to Collateral rather than fund BDO. 
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radar
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Post by radar on Mar 9, 2019 8:56:47 GMT
I have not received an email, but then I have been missing quite a few emails others have been getting.
From what others have been commenting on about discrepancies, it may be just as well that I do not have that to worry about, even though I know it will be bad news, as it appears that no one has been getting correct totals
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Post by brightspark on Mar 9, 2019 8:58:13 GMT
Unpleasant email from BDO yesterday. Last summer they told my exposure to Collateral platform is £23,367.43. This was very close my own assessment. Now they tell it is much smaller: only £9,330.66. Huge drop. I sent them my transfer transactions to and from Collateral, hope it clarifies . Anyone else got similar bad news? Are you sure the e-mail originated from where it claimed to come from? I too have a smallish sum in Collateral but have heard nothing recently (yet?) If your 60% haircut is what we are all in for then there are going to be some very angry investors coming forward with the FCA right in the firing line.
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madpierre
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Post by madpierre on Mar 9, 2019 9:00:01 GMT
I assume the new scaled down figures have been adjusted to account for their costs  |
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Monetus
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Post by Monetus on Mar 9, 2019 9:02:24 GMT
I’ve already made contact with BDO regarding this and will be addressing it in the meeting on Tuesday.
On the surface (although not 100%) it appears to only affect investors who held cash balances or loans for sale on the secondary market at the time the platform collapsed.
Anyone who was fully invested (nothing for sale and didn’t have a cash balance) is unlikely to be contacted as their investments have likely been reconciled (although if that’s not the case and you were fully invested and did receive a letter then please let me know in this thread).
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archie
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Post by archie on Mar 9, 2019 9:05:40 GMT
I’ve already made contact with BDO regarding this and will be addressing it in the meeting on Tuesday. On the surface (although not 100%) it appears to only affect investors who held cash balances or loans for sale on the secondary market at the time the platform collapsed. Anyone who was fully invested (nothing for sale and didn’t have a cash balance) is unlikely to be contacted as their investments have likely been reconciled (although if that’s not the case please let me know in this thread). Have you had the email? If so, how do the figures compare with those you were given at the meeting?
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Carter
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Post by Carter on Mar 9, 2019 9:10:00 GMT
I’ve already made contact with BDO regarding this and will be addressing it in the meeting on Tuesday. On the surface (although not 100%) it appears to only affect investors who held cash balances or loans for sale on the secondary market at the time the platform collapsed. Anyone who was fully invested (nothing for sale and didn’t have a cash balance) is unlikely to be contacted as their investments have likely been reconciled (although if that’s not the case and you were fully invested and did receive a letter then please let me know in this thread). Not consistent in my case. I didn't receive an email but I did have a chunk in cash, around 15% (five figures) of total account. I'm fairly sure I had a small amount in the sale queue but could be misremembering that, it has been a while. I'd like to actually see my breakdown to validate it.
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Monetus
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Post by Monetus on Mar 9, 2019 9:10:06 GMT
I’ve already made contact with BDO regarding this and will be addressing it in the meeting on Tuesday. On the surface (although not 100%) it appears to only affect investors who held cash balances or loans for sale on the secondary market at the time the platform collapsed. Anyone who was fully invested (nothing for sale and didn’t have a cash balance) is unlikely to be contacted as their investments have likely been reconciled (although if that’s not the case please let me know in this thread). Have you had the email? If so, how do the figures compare with those you were given at the meeting? I did not receive this email. I was fully invested in the platform (no cash balance and nothing for sale on the secondary market) and a breakdown I was provided with recently balanced to the penny.
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Post by Proptechfish on Mar 9, 2019 9:10:19 GMT
Monetus I did not have any loans for sale or cash balance and I have not received an email. However I did have funds assigned to a loan not drawn down, if it's not already known could you clarify the status of these funds in Tuesday's meeting please ?
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