paul123
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Post by paul123 on Aug 12, 2021 18:21:39 GMT
From Lisa on FB:
What does this mean?
There is already £10-12m held. I'd say about 50% again what we've already received. The change means we'll recover about £15-20m more than had we lost.
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rocky1
Member of DD Central
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Post by rocky1 on Aug 12, 2021 18:50:04 GMT
going back over all these loans will probably add many,many hours to administration costs.this has all been caused by LBs ducking and diving and LB/LENDY should pay these costs from the lendy fees/ lendy contract entitlement etc that has been seeing the best part of any returns of our funds.well done to lisa and the gang but can we now go for the jugular on these scamming bar*tards.
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k6
Posts: 131
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Post by k6 on Aug 12, 2021 18:56:50 GMT
Finally some positive news. Amazing job those involved in fighting for our money. Cant even describe and stress enough how grateful I am for your time putted into this case. Hats Off .
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Post by rooster on Aug 12, 2021 19:35:18 GMT
Yep, a tremendous effort and result. Thanks so much for fighting the cause, I am truly grateful.
It appears that there may be justice in this world after all!
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Aug 12, 2021 19:50:14 GMT
Excellent effort, well done all involved.
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Ace
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Post by Ace on Aug 12, 2021 20:11:18 GMT
Yes, a magnificent achievement. However, it really shouldn't have been incumbent on us lenders to fund a court case to achieve justice.
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qlassa
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Post by qlassa on Aug 12, 2021 22:30:29 GMT
Hats Off. Great achievement indeed!
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Post by gramsky on Aug 13, 2021 8:25:05 GMT
So how long before we start getting our money?
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merlin99
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Post by merlin99 on Aug 13, 2021 9:38:43 GMT
So how long before we start getting our money? So how long can you hold your breath? Seriously my guess is it wont be soon. Liquidators are never quick in coughing up what is due to creditors unless they are pushed. However they do pay out in the end -usually!
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Aug 13, 2021 9:56:27 GMT
Yes, a magnification achievement. However, it really shouldn't have been incumbent on us lenders to fund a court case to achieve justice. By a "magnification" achievement, I hope you mean that a small amount of returns thus far will become BIGGER!!  Any idea as to the power of your eyepiece? 
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Ace
Member of DD Central
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Post by Ace on Aug 13, 2021 10:23:57 GMT
Yes, a magnification achievement. However, it really shouldn't have been incumbent on us lenders to fund a court case to achieve justice. By a "magnification" achievement, I hope you mean that a small amount of returns thus far will become BIGGER!! Any idea as to the power of your eyepiece? Oops, I really shouldn't post when I don't have access to my glasses. Yes, I'm hoping my single digit pence returns will become double digit pence. I have no chance of recovering even the funds I contributed to the LAG, but I'd gladly contribute more if there was a chance that the perpetrators of this debacle would be properly punished. Money well spent in my book to deter others from doing the same. Its also a shocking indictment of the FCA that they didn't veto the unfair contract terms IMO.
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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
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Post by ilmoro on Aug 13, 2021 10:27:13 GMT
Yes, a magnification achievement. However, it really shouldn't have been incumbent on us lenders to fund a court case to achieve justice. By a "magnification" achievement, I hope you mean that a small amount of returns thus far will become BIGGER!! Any idea as to the power of your eyepiece? Will depend on which loans you are in and the exact details but so far £19m has been returned to lenders and there is £9.2 in 'Lendy' entitlement so could be about another 50%. Edit: oops maths wrong, actually better
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Aug 13, 2021 10:28:25 GMT
By a "magnification" achievement, I hope you mean that a small amount of returns thus far will become BIGGER!! Any idea as to the power of your eyepiece? Oops, I really shouldn't post when I don't have access to my glasses. Yes, I'm hoping my single digit pence returns will become double digit pence. I have no chance of recovering even the funds I contributed to the LAG, but I'd gladly contribute more if there was a chance that the perpetrators of this debacle would be properly punished. Money will spent in my book to deter others from doing the same. Its also a shocking indictment of the FCA that they didn't veto the unfair contract terms IMO. Well, if you use your glasses, it really will be a magnification achievement 
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qlassa
Member of DD Central
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Post by qlassa on Aug 13, 2021 20:19:27 GMT
So how long before we start getting our money? No one knows but let's hope soon
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eurasian69
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Post by eurasian69 on Aug 13, 2021 21:48:22 GMT
It is good news, but this could be an unpleasant fly in the ointment:
There remain the three deferred Issues, namely
(c) what amounts should the Administrators should be allowed to deduct money from M2 loan recoveries to cover the costs incurred in administering, recovering and distributing the loans, and if so on what basis.
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