duck
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Post by duck on Jun 18, 2021 9:53:15 GMT
Hello Duck It was mentioned in an earlier thread that we will be receiving a report end June start of July Do you think this will be the final report with all the dividends from all of the loans? If it is do we then have to wait for the FCA report to our complaints. What would then be the next step? Thanks Tony A couple of things are being mixed up a bit here. The Complaints are due for their 6 month review at end of June / early July (last deferment 31/12/2020) BDO's update due by 08th July (last one 08/07/2020) There are no signs that BDO's work will be completed by then so I don't expect to see any money coming back from BDO then. On the FCA side, they promised the Treasury Committee that there will be a substantial update by September. The Complaints are another matter and when they are addressed depends on what the FCA do and possibly any criminal charges (as stated at the Treasury Committee hearing) I anticipate on 30 June / 1 July the Complaints will be deferred again (happy to be proved wrong) but this does not mean the deferment will run for another 6 months the FCA can address them when they feel able to. There is the danger that the FCA will try to defer answering the complaints until after any criminal proceedings are completed (if there are any) and this could be years from now. The previous Complaint Commissioner expressed his general view on this happening in FCA00527 (not one of mine) Behind the scenes we are trying to work with all the possibilities. Hope that helps a bit.
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tommytaylor
P2P - The new wild west
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Post by tommytaylor on Jun 19, 2021 6:48:08 GMT
Hello Duck It was mentioned in an earlier thread that we will be receiving a report end June start of July Do you think this will be the final report with all the dividends from all of the loans? If it is do we then have to wait for the FCA report to our complaints. What would then be the next step? Thanks Tony A couple of things are being mixed up a bit here. The Complaints are due for their 6 month review at end of June / early July (last deferment 31/12/2020) BDO's update due by 08th July (last one 08/07/2020) There are no signs that BDO's work will be completed by then so I don't expect to see any money coming back from BDO then. On the FCA side, they promised the Treasury Committee that there will be a substantial update by September. The Complaints are another matter and when they are addressed depends on what the FCA do and possibly any criminal charges (as stated at the Treasury Committee hearing) I anticipate on 30 June / 1 July the Complaints will be deferred again (happy to be proved wrong) but this does not mean the deferment will run for another 6 months the FCA can address them when they feel able to. There is the danger that the FCA will try to defer answering the complaints until after any criminal proceedings are completed (if there are any) and this could be years from now. The previous Complaint Commissioner expressed his general view on this happening in FCA00527 (not one of mine) Behind the scenes we are trying to work with all the possibilities. Hope that helps a bit. Thanks again Duck for this very informative information Cheers
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duck
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Post by duck on Jul 8, 2021 6:55:26 GMT
Yearly report due from BDO today.
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archie
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Post by archie on Jul 8, 2021 14:42:50 GMT
Yearly report due from BDO today. There now.
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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 Jul 8, 2021 17:50:19 GMT
Hi ho Hi ho Hi ho, hi ho, it's off to court we go
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ptr120
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Post by ptr120 on Jul 8, 2021 19:26:40 GMT
Considering that an application for directions is being prepared, I think it is reasonable to assume that we won't see the case in court before next March, with a decision in May. I'm also quite sure that BDO will want everyone to go through KYC / AML before paying a penny, so I think was can assume we are still twelve months away from any money being repaid to investors.
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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 Jul 8, 2021 19:39:59 GMT
Considering that an application for directions is being prepared, I think it is reasonable to assume that we won't see the case in court before next March, with a decision in May. I'm also quite sure that BDO will want everyone to go through KYC / AML before paying a penny, so I think was can assume we are still twelve months away from any money being repaid to investors. It will depend how complicated the issues that directions are being sort on are. If it is merely getting permission to impose a deadline for trust claims could be relatively quick. Will also depend on whether there are any other parties who wish to be heard. FS direction hearing was actually begun after the Lendy one but heard first because it was only dealing with a few issues
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tommytaylor
P2P - The new wild west
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Post by tommytaylor on Jul 9, 2021 6:17:53 GMT
Yearly report due from BDO today. Not received mine yet duck. Neither has the mrs. B~~tards
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duck
Member of DD Central
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Post by duck on Jul 9, 2021 6:48:26 GMT
Yearly report due from BDO today. Not received mine yet duck. Neither has the mrs. B~~tards I don't think anybody has received a personal notification but you can read/download it here. (no password needed since it will eventually appear on the CH site)
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Post by cauterize on Jul 9, 2021 9:42:32 GMT
Couldn't see anything about car loans?
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p2pete
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Post by p2pete on Jul 9, 2021 9:43:20 GMT
Still not seeing anything about loans that were funded but not drawn down such as BL00079, BL00087, BL00088. Have the Administrators ever commented on where the money is for these and how they will be dealt with?
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agent69
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Post by agent69 on Jul 9, 2021 9:44:56 GMT
Annual report just arrived
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m2btj
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Post by m2btj on Jul 9, 2021 9:59:15 GMT
Annual report just arrived Email signed by Shane Crooks, Joint Liquidator......Crooks? Where have I heard that before?
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jcb208
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Post by jcb208 on Jul 9, 2021 10:04:39 GMT
Still a bit confused about discrepancy with my total exposure and loan portfolio there was about £500 difference.I know others have had similar but do I report this or is it the case this money is held in the client account .
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averageguy
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Post by averageguy on Jul 9, 2021 10:11:54 GMT
Oh they’ve finally decided to sell the chattels……at last!
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