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Post by dan1 on Feb 11, 2020 13:00:37 GMT
In the High Court of Justice - Business and Property Courts of England and Wales ROLLS BUILDING HEARING ROOM 9 Before INSOLVENCY AND COMPANIES COURT JUDGE MULLEN Unrobed Companies Applications Thursday 19 December 2019 At 11:30 AM CR-2018-001528 Collateral (UK) Limited Mousey - beat you to it for a change  duck - I'd class the above info as in the public domain |
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duck
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Post by duck on Feb 11, 2020 13:53:35 GMT
..... duck - I'd class the above info as in the public domain Yep, that is in the public domain but I'm waiting for something else .....
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nyneil
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Post by nyneil on Feb 11, 2020 16:31:37 GMT
Is there a report somewhere? I've not found anything on Google.
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Post by dan1 on Feb 12, 2020 9:31:51 GMT
Is there a report somewhere? I've not found anything on Google. The info in the OP was taken from The Law Pages ( www.thelawpages.com). You'll need to register an account to allow you to search the archives. Once registered hover over HEARINGS then select HIGH COURT and then select Archives. In the Case Name field I searched for "collateral", the search results should return.... High Court Archives Results: 6
DATE COURT FOUND
19-12-2019 Rolls Building Cause List Collateral View List
Click on view list then text search (ctrl-f on some Windows browsers) for "collateral". I'd suggest searching your other platforms/claimants. e.g. the borrower taking legal action against Unbolted (Open Access Finance Ltd) was in court on 24 Jan 2020 for a SMALL CLAIMS HEARING. [Please don't identify this borrower or the case number, thanks]. HTH
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micky
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Post by micky on Mar 6, 2020 16:22:30 GMT
I've followed these instructions several times and got through to the case and its listing. Are we able to see the actual detail of what was said/decided?
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duck
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Post by duck on Mar 6, 2020 17:27:06 GMT
Court cases require preliminary hearings to set out grounds, timescales, parties, requirements etc. This was one of them.
Please don't expect any follow up hearings to be the result of the FCAs investigation, this is not it.
Sorry I can't disclose more at present.
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insideout
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Post by insideout on Mar 22, 2020 21:38:36 GMT
Unable to travel, so I'll spend some time here. What a mess this forum is now!
Over 100 pages of discussion about the new virus and yet hardly anyone is discussing the fate of Collateral loans. Half the scientists and medics in the world are keeping an eye on the virus - every hour of every day. Who is still keeping an eye on BDO and FCA? The Court case would probably have been no more than a so called directions hearing, the sort of thing that is likely to happen on the Lendy loans too. Probably this one was initiated by BDO rather than FCA. FCA are (as far as seems to be known?) still building their case (= covering their backsides?). So extending from the BDO report where 'discussions' with the Directors are centred on the actual value of the jewelery and watches (etc) as opposed to what they were supposed to be worth? None of these borrowers wanted their goods back - that tells you what?? BDO may have a lot of questions also about why and how the investor website data was destroyed together with (presumably) much else of company records. Equally likely - Directors don't wish to answer. So maybe the court tells them to answer. Then what?
Disqualification is one option but how would that help investors recover money? Insolvency fees and lawyer fees may be the only tangible outcomes. Rarely are director assets seized. It's par for the course with less than wholly straight company directors in GB. If you want to steal money in GB, don't rob a bank, you might do jail time, just set up a company.
As a contribution to de-cluttering, I've removed half of my old forum posts and shortened others. I suggest everyone does the same - or more. Then we might be able to find anything that is still useful.
All you gals and guys self isolating - do some de-cluttering.
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agent69
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Post by agent69 on Mar 22, 2020 22:04:23 GMT
Unable to travel, so I'll spend some time here. What a mess this forum is now!
Over 100 pages of discussion about the new virus and yet hardly anyone is discussing the fate of Collateral loans. Half the scientists and medics in the world are keeping an eye on the virus - every hour of every day. Who is still keeping an eye on BDO and FCA? The Court case would probably have been no more than a so called directions hearing, the sort of thing that is likely to happen on the Lendy loans too. Probably this one was initiated by BDO rather than FCA. FCA are (as far as seems to be known?) still building their case (= covering their backsides?). So extending from the BDO report where 'discussions' with the Directors are centred on the actual value of the jewelery and watches (etc) as opposed to what they were supposed to be worth? None of these borrowers wanted their goods back - that tells you what?? BDO may have a lot of questions also about why and how the investor website data was destroyed together with (presumably) much else of company records. Equally likely - Directors don't wish to answer. So maybe the court tells them to answer. Then what?
Disqualification is one option but how would that help investors recover money? Insolvency fees and lawyer fees may be the only tangible outcomes. Rarely are director assets seized. It's par for the course with less than wholly straight company directors in GB. If you want to steal money in GB, don't rob a bank, you might do jail time, just set up a company.
As a contribution to de-cluttering, I've removed half of my old forum posts and shortened others. I suggest everyone does the same - or more. Then we might be able to find anything that is still useful.
All you gals and guys self isolating - do some de-cluttering. It's important that in these difficult times you get your priorities right
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micky
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Post by micky on Mar 23, 2020 0:31:56 GMT
..... duck - I'd class the above info as in the public domain Yep, that is in the public domain but I'm waiting for something else ..... Still waiting 
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duck
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Post by duck on Mar 23, 2020 5:51:04 GMT
.... Who is still keeping an eye on BDO and FCA?
The FCA are certainly still being watched / tackled we have a very clear picture of what went on. All that can be done currently is pressure on the FCA through MPs. The second MPs letter is being held, we need it to make a big impact when released and now is just not that time. The rest of your post insideout sums up the situation nicely wrt the Courts. (IMHO Courts will be physically closed soon, skype type hearings might be held but will this case be one of them?) Court action bought by BDO will be paid for from the pot from closed loans. Lets be blunt here, the Col loan book is a mess. Directors are/have been 'unhelpful'. BDO fees are 'tasty' so are those of their agents / advisors. The agents will be very lucky to sell off anything at the current time, to the extent that if the very expensive marketing continues I will view it as wasted money. So we are at an impasse. Properties cannot be sold off currently without massive losses*. Losses cannot be crystalised until the loan book is closed. The FCAs investigation will almost certainly continue until BDO finish the liquidation. Until the investigation and liquidation are complete the FCA process for ex gratia payments cannot be pushed forwards. Not a situation I like but there is very little that can be done at present. For clarity I do know more but cannot post everything without putting myself in a position where I could be accused of prejudicing Court Hearings and the various investigations. *there would have been some of those anyway, one particular development springs to mind.
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tx
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Post by tx on Apr 1, 2020 13:05:15 GMT
I wonder how long this would take, and maybe in 30 years time I may get a surprise for receiving some retirement funds ...
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Mousey
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Post by Mousey on Apr 28, 2020 19:26:45 GMT
I'd suggest searching your other platforms/claimants. e.g. the borrower taking legal action against Unbolted (Open Access Finance Ltd) was in court on 24 Jan 2020 for a SMALL CLAIMS HEARING. Same name but different date of birth so don't think it's our borrower 
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