duck
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Post by duck on Nov 13, 2021 17:22:35 GMT
Not to mention the DX costs for moving those papers around the country several times. You'd have thought that in this day and age, everything could be stored electronically in the cloud. I would have thought they'd just get shoved into a van and taken straight from office to office. BDO might 'transfer' their documents in that way, Courts work in a whole different way.
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adrianc
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Post by adrianc on Nov 13, 2021 17:30:44 GMT
I would have thought they'd just get shoved into a van and taken straight from office to office. BDO might 'transfer' their documents in that way, Courts work in a whole different way. I thought we were talking about the registered office moving between BDO's various offices?
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duck
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Post by duck on Nov 13, 2021 18:07:31 GMT
BDO might 'transfer' their documents in that way, Courts work in a whole different way. I thought we were talking about the registered office moving between BDO's various offices? We are but the Court papers have been following BDO's movements. Note those who have been asked to provide witness statements still do not know (if there are to be Court proceedings) if hearings will be held in London or Manchester.
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ptr120
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Post by ptr120 on Nov 14, 2021 7:35:08 GMT
Not to mention the DX costs for moving those papers around the country several times. You'd have thought that in this day and age, everything could be stored electronically in the cloud. I would have thought they'd just get shoved into a van and taken straight from office to office. In other words, exactly the same as DX do. Either way, the movement of a large quantity of paperwork from A to B certainly doesn't happen for free.
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duck
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Post by duck on Nov 20, 2021 3:40:45 GMT
As has been the way all through this saga the picture of what really happened has been pieced together comparing documents and joining the loose ends. This means continually revisiting 'old' documents. I recently reviewed the June 2019 Treasury Committee hearing to check something. I came across this statement by Andrew Bailey Mr Bailey is of course correct the FCA did not make the initial change to the register, why would they? When you think about it this statement is patently ridiculous but what Mr Bailey was trying to do was to deflect any blame for the problem away from the FCA and their open systems that allowed the change to be made. The FCA facilitated the problem. Mr Bailey was fully aware of the Col problem having been informed of the problem on 09/12/2017 (FOI 6483) What of course Mr Bailey forgot to mention to the Committee was that when the FCA found out about the problem the FCA secretly changed the register back to Regal Pawnbroker on 29/01/2018 and allowed the entry to lapse. (FOI 6215) So whilst Mr Bailey wanted the Committee to be very clear that nobody inside the FCA had made the initial register change he 'forgot' to mention that somebody inside the FCA decided a secret change of the register was the best way forwards. If I was a conspiracy theorist I would be calling this an attempted cover up. The FCA of course became aware of the 'problem' on 23/11/2017 but deemed it acceptable that Collateral should be allowed to continue to sell regulated products even though they knew Collateral had no permissions to sell these products. So many questions and so far no answers .................
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11025
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Post by 11025 on Nov 20, 2021 11:27:12 GMT
In Mr Bailey's haste to ensure that people knew the FCA were in no way responsible for this , he has confirmed to all that there was no "sophisticated hack" as Mr Rathi would like us to believe and indeed the register was completely insecure - the FCA were responsible for creating then overseeing this complete disaster .
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duck
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Post by duck on Nov 20, 2021 11:42:58 GMT
In Mr Bailey's haste to ensure that people knew the FCA were in no way responsible for this , he has confirmed to all that there was no "sophisticated hack" as Mr Rathi would like us to believe and indeed the register was completely insecure - the FCA were responsible for overseeing this complete disaster . Exactly. Just taking Mr Bailey's comment (above) again " How did the register get changed without the change having any authorisation?" When Mr Bailey made this statement he did of course know exactly how the change had been made and the person responsible (the person had formally admitted making the change) so he was, shall we say, being a tad disingenuous to the Committee when he raised the question.
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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 21, 2021 14:39:19 GMT
I just wish the Fat Lady would sing and get this all over and done and give me my 26K back. It cannot possibly take this time there were only a small no of loans that should all be paid or repossessed now.
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duck
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Post by duck on Nov 21, 2021 16:20:55 GMT
I just wish the Fat Lady would sing and get this all over and done and give me my 26K back. It cannot possibly take this time there were only a small no of loans that should all be paid or repossessed now. Oh if only it was that simple. The one part of the jigsaw that appears to be complete is the FCAs involvement in the whole debacle. The liquidators still have the largest loan to sort (sell) and possibly some work on a couple of smaller loans (I don't know the position on these), as for the chattels .......... That leaves the FCA and 'The Investigation'. We should be hearing something on that very soon, certainly before the end of the year .......... but the FCA could call another delay. What happens after that depends on the FCA and any legal proceedings. The matter of payments beyond what BDO eventually pay out still hasn't reached the table.
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jcb208
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Post by jcb208 on Nov 21, 2021 21:09:28 GMT
The only thing I'm sure of is I will get £500 back from 32k as that was in the client account, god knows what else will be returned but time will tell
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duck
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Post by duck on Nov 22, 2021 2:22:35 GMT
The only thing I'm sure of is I will get £500 back from 32k as hat was in the client account, god knows what else will be returned but time will tell I'm afraid I can't post openly on this subject but I'm sorry to say you can't be certain of that.
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adrianc
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Post by adrianc on Nov 22, 2021 8:34:15 GMT
The only thing I'm sure of is I will get £500 back from 32k as hat was in the client account, god knows what else will be returned but time will tell You had £32k in cash in your COL account?
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duck
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Post by duck on Dec 1, 2021 5:43:35 GMT
Nikhil Rathi and Charles Randell appearing in person in front of the Treasury Committee on 8th December. I will be watching the live stream which will save you the pain of watching unless you have masochistic tendencies and fancy a view. As far as I can see the situation has not changed since the 12th May Committee hearing (when the substantial update was first aspired to) so there still cannot be detailed questions asked on Col on 08-12. Things could obviously change in the week before the hearing.
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jcb208
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Post by jcb208 on Dec 1, 2021 7:49:37 GMT
The only thing I'm sure of is I will get £500 back from 32k as hat was in the client account, god knows what else will be returned but time will tell You had £32k in cash in your COL account? I wish it was that way round,£32k invested and £500 in cash
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duck
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Post by duck on Dec 8, 2021 15:00:14 GMT
Nikhil Rathi and Charles Randell appearing in person in front of the Treasury Committee on 8th December. I will be watching the live stream which will save you the pain of watching unless you have masochistic tendencies and fancy a view. As far as I can see the situation has not changed since the 12th May Committee hearing (when the substantial update was first aspired to) so there still cannot be detailed questions asked on Col on 08-12. Things could obviously change in the week before the hearing. ................ and the live stream broke 6 minutes in with Nikhil explaining that due to the exceptional work of the staff in the pandemic they were paid £23m in bonuses.
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