star dust
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Post by star dust on Sept 17, 2019 16:11:54 GMT
Nor should they. LAG members obviously have a direct vested interest in not compromising any ongoing asset recoveries or legal actions. I understand anyone can join the LAG and I was informed by someone who ought to know, should we say, that "The main reason LAG is "private" is actually not to hide any information. It's more so that it provides a way for people to opt-in to the group so we can demonstrate that we have strength in numbers."
I think I suggested non-sensitive information, and I would hope that CC members are astute enough to know what that is, apart from the fact that as already mentioned they will no doubt be subject to an NDA. I thought the CC members were supposed to represent the interests of all Lendy's investors not just those who join a private group?
As things stand at the moment it's fortunate that RSM at least seem to be trying to deal fairly with all investors in all loans, and are providing information, placed in the public domain mainly, on a reasonably regular basis, but I am concerned that this will continue to be the case.
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Post by default on Sept 17, 2019 20:31:34 GMT
The purpose of LAG is to maximise recoveries to investors, whether they are members or not. LAG argued that Lendy have a civil liability to all investors. Hence, RSM accepted the principle that all lenders be accepted as creditors. As it happened, only LAG members were elected to the CC. To date, LAG have been very effective in pursuing their aims.
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garfield
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Post by garfield on Sept 17, 2019 21:45:22 GMT
Plenty of news on LAG, great and extensive work being done by the "team" on behalf of us all. Yes, much of it is behind the scenes, but honestly we don't know the half of it yet!! It's all a question of trust... in the right people. For me, that includes RSM. In my bones, I feel we must remain patient.
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Greenwood2
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Post by Greenwood2 on Sept 19, 2019 20:06:30 GMT
Is the CC going to post on here about the meeting? If not why not?
Likewise are they going to post on Frank?
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Post by default on Sept 19, 2019 23:03:43 GMT
Is the CC going to post on here about the meeting? If not why not? Likewise are they going to post on Frank? As stated, the CC comprises of LAG members. As such, some information is being shared on the LAG website. You can access this by becoming a LAG member. My guess is that this information is unlikely to be shared here or on Frank, simply because it is unnecessary as anyone can gain access to it anyway. Also, if you have an interest in the Lendy administration, joining LAG will give you the opportunity to engage with their efforts on your behalf to recover your money. I personally fail to see any reason why anyone with such an interest would refuse to join.
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Post by Badly Drawn Stickman on Sept 19, 2019 23:36:43 GMT
Is the CC going to post on here about the meeting? If not why not? Likewise are they going to post on Frank? As stated, the CC comprises of LAG members. As such, some information is being shared on the LAG website. You can access this by becoming a LAG member. My guess is that this information is unlikely to be shared here or on Frank, simply because it is unnecessary as anyone can gain access to it anyway. Also, if you have an interest in the Lendy administration, joining LAG will give you the opportunity to engage with their efforts on your behalf to recover your money. I personally fail to see any reason why anyone with such an interest would refuse to join. It could just as easily be argued that the members of the CC (self elected it would seem) are responsible to all creditors and should share any information in a non-exclusive way. Clearly that is not the populist view.
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registerme
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Post by registerme on Sept 20, 2019 0:07:45 GMT
My initial PM (some months ago) to a founder of LAG (by way of this forum) remains unanswered  . |
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Post by default on Sept 20, 2019 0:36:31 GMT
As stated, the CC comprises of LAG members. As such, some information is being shared on the LAG website. You can access this by becoming a LAG member. My guess is that this information is unlikely to be shared here or on Frank, simply because it is unnecessary as anyone can gain access to it anyway. Also, if you have an interest in the Lendy administration, joining LAG will give you the opportunity to engage with their efforts on your behalf to recover your money. I personally fail to see any reason why anyone with such an interest would refuse to join. It could just as easily be argued that the members of the CC (self elected it would seem) are responsible to all creditors and should share any information in a non-exclusive way. Clearly that is not the populist view. The CC aren't responsible for sharing any information with anyone. Far from it. They are subject to an NDA. As I understand it, RSM are allowing some information to be shared on the LAG website.
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Greenwood2
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Post by Greenwood2 on Sept 20, 2019 6:52:19 GMT
It could just as easily be argued that the members of the CC (self elected it would seem) are responsible to all creditors and should share any information in a non-exclusive way. Clearly that is not the populist view. The CC aren't responsible for sharing any information with anyone. Far from it. They are subject to an NDA. As I understand it, RSM are allowing some information to be shared on the LAG website.
Since anyone can join LAG (lenders, borrowers, interested parties, newspaper reporters, etc, etc) and there is no NDA requirement to join LAG, RSM have effectively given permission to share with anyone.
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Monetus
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Post by Monetus on Sept 20, 2019 7:01:20 GMT
(self elected it would seem) Incorrect. There was a public vote for attendees of the Creditors Meeting in Birmingham. Those who couldn’t attend were given proxy forms.
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Monetus
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Post by Monetus on Sept 20, 2019 7:04:14 GMT
It could just as easily be argued that the members of the CC (self elected it would seem) are responsible to all creditors and should share any information in a non-exclusive way. Clearly that is not the populist view. The CC aren't responsible for sharing any information with anyone. Far from it. They are subject to an NDA. As I understand it, RSM are allowing some information to be shared on the LAG website.
RSM haven’t allowed us to share specific information on the LAG website. CC members are doing so themselves voluntarily (under no obligation) and operating within the constraints of an NDA. I personally haven’t written anything about the meeting yet other than a single loan has re-financed (which was on this forum)
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Greenwood2
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Post by Greenwood2 on Sept 20, 2019 7:23:36 GMT
The CC aren't responsible for sharing any information with anyone. Far from it. They are subject to an NDA. As I understand it, RSM are allowing some information to be shared on the LAG website.
RSM haven’t allowed us to share specific information on the LAG website. CC members are doing so themselves voluntarily (under no obligation) and operating within the constraints of an NDA. I personally haven’t written anything about the meeting yet other than a single loan has re-financed (which was on this forum) I hope you will be willing to share your posts (on the CC meetings) with the wider community, as you have in the past.
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wuzimu
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Post by wuzimu on Sept 20, 2019 7:39:32 GMT
Just to confirm, LAG is not a rival p2p discussion forum.
It is a social group existing to campaign to meet its stated aims.
Ie to recover as much as possible from the lendy disaster.
Having got critical mass, representation at the administration and political / press interest LAG has achieved alot and all it could at this stage.
Thanks to all who have supported LAG!
We will soon be ready to start on the Fscs campaign and other avenues.
That will coordinated through the LAG website because LAG is about coordinated action rather than simply discussion.
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withnell
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Post by withnell on Sept 20, 2019 8:02:43 GMT
Just to confirm, LAG is not a rival p2p discussion forum. It is a social group existing to campaign to meet its stated aims. Ie to recover as much as possible from the lendy disaster. Having got critical mass, representation at the administration and political / press interest LAG has achieved alot and all it could at this stage. Thanks to all who have supported LAG! We will soon be ready to start on the Fscs campaign and other avenues. That will coordinated through the LAG website because LAG is about coordinated action rather than simply discussion. Thank you for all of your and Monetus 's work on LAG (apologies to all others heavily involved where I don't know the forum handles!) Appreciate the many hours that everyone is giving up to try to get the best result out of this mess
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averageguy
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Post by averageguy on Sept 20, 2019 8:39:40 GMT
As stated, the CC comprises of LAG members. As such, some information is being shared on the LAG website. You can access this by becoming a LAG member. My guess is that this information is unlikely to be shared here or on Frank, simply because it is unnecessary as anyone can gain access to it anyway. Also, if you have an interest in the Lendy administration, joining LAG will give you the opportunity to engage with their efforts on your behalf to recover your money. I personally fail to see any reason why anyone with such an interest would refuse to join. It could just as easily be argued that the members of the CC (self elected it would seem) are responsible to all creditors and should share any information in a non-exclusive way. Clearly that is not the populist view.
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