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Post by p2plender on Jun 27, 2020 12:02:12 GMT
Class action talk as well now. I think 'cocky' Liam might be needing the vaseline soon. Actually think jail may be the easier option for these two.
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ilmoro
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Post by ilmoro on Jun 27, 2020 12:44:48 GMT
Class action talk as well now. I think 'cocky' Liam might be needing the vaseline soon. Actually think jail may be the easier option for these two. Class action is civil, the administrator action is civil. Criminal is not currently on the radar, and given it would be financial crime which is usually years in the pursuit, I doubt use of petroleum products will be a near future requirement. In fact, given how hopeless the regulators are a pursuing such I doubt they ever will be.
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ilmoro
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Post by ilmoro on Jun 27, 2020 13:40:41 GMT
Start a MASSIVE protest ouside the FCA office with all the media there see if that get's attension
I think the FCA’s head office is in docklands. There’s no right of public assembly there. I’d imagine “undesirables” are ejected from the estate very quickly. Stratford, up the road from the Olympics, area likely to be full of undesirables or West Ham fans as they are known  Here's the last attempt. Note the bloke in the video citywire.co.uk/wealth-manager/news/video-exclusive-conned-mini-bond-protesters-fca-anger/a1304103
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rocky1
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Post by rocky1 on Jun 27, 2020 14:11:38 GMT
hopefully this has now been passed onto the white collar crime specialists to investigate and RSM can get on with sorting the sh*t out this end and pass on some of these special relationship dealings between LB and dodgy borrowers to the investigators. i see a big can of worms starting to open up with certain individuals right in the middle of them.
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Post by default on Jun 27, 2020 14:27:11 GMT
The FCA authorised Lendy when it was effectively bankrupt, as it never did pay back all the lenders it mis-sold to. I think common law might have something to say about that. There is no common law. There is no interpretation of law to be made … the FCA has immunity so you cant take them to court to create precedent and common law. AIUI judicial review wouldn't be an option either. www.parliament.uk/business/publications/written-questions-answers-statements/written-question/Commons/2019-03-04/228164
Looks like it'll have to be a Judicial Review. I suggest a Parliamentary Petition to kick it off. Anyone with a little more knowledge of such things willing to draft such a petition?
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ilmoro
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Post by ilmoro on Jun 27, 2020 16:00:19 GMT
But what would you be judicially reviewing because a judicial review covers process not outcome?… www.judiciary.uk/you-and-the-judiciary/judicial-review/judicial review of Parliament's decision to give FCA immunity? Cant be done as it is established by Act of Parliament AIUI so exempt www.instituteforgovernment.org.uk/explainers/judicial-reviewJudicial review of FCA decision to give Lendy authorisation? To what end as even if it says the decision was unlawful, would it result in financial recompense if there is no power force the FCA to compensate as it has immunity Whats the point in a petition? They have a debate somewhere in Parliament (doesn't have to be the House) and … no-one turns up and the vote doesn't have any force
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Post by default on Jun 27, 2020 16:11:49 GMT
But what would you be judicially reviewing because a judicial review covers process not outcome?… www.judiciary.uk/you-and-the-judiciary/judicial-review/judicial review of Parliament's decision to give FCA immunity? Cant be done as it is established by Act of Parliament AIUI so exempt www.instituteforgovernment.org.uk/explainers/judicial-reviewJudicial review of FCA decision to give Lendy authorisation? To what end as even if it says the decision was unlawful, would it result in financial recompense if there is no power force the FCA to compensate as it has immunity Whats the point in a petition? They have a debate somewhere in Parliament (doesn't have to be the House) and … no-one turns up and the vote doesn't have any force Are you seriously telling me that you're happy with how the FCA handled the authorisation of Lendy? And if not, how about trying to do something constructive about it instead of pouring cold water over everything that attempts to get some sort of accountability!
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ilmoro
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Post by ilmoro on Jun 27, 2020 16:32:35 GMT
But what would you be judicially reviewing because a judicial review covers process not outcome?… www.judiciary.uk/you-and-the-judiciary/judicial-review/judicial review of Parliament's decision to give FCA immunity? Cant be done as it is established by Act of Parliament AIUI so exempt www.instituteforgovernment.org.uk/explainers/judicial-reviewJudicial review of FCA decision to give Lendy authorisation? To what end as even if it says the decision was unlawful, would it result in financial recompense if there is no power force the FCA to compensate as it has immunity Whats the point in a petition? They have a debate somewhere in Parliament (doesn't have to be the House) and … no-one turns up and the vote doesn't have any force Are you seriously telling me that you're happy with how the FCA handled the authorisation of Lendy? And if not, how about trying to do something constructive about it instead of pouring cold water over everything that attempts to get some sort of accountability!
You have no idea what Im doing about Lendy. Im merely pointing out the issues & practicalities of your suggestions … had the FCA undertaken a similar robust & sceptical examination of Lendy we wouldn't be in this mess.
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Post by default on Jun 27, 2020 16:39:50 GMT
Are you seriously telling me that you're happy with how the FCA handled the authorisation of Lendy? And if not, how about trying to do something constructive about it instead of pouring cold water over everything that attempts to get some sort of accountability!
You have no idea what Im doing about Lendy. Im merely pointing out the issues & practicalities of your suggestions … had the FCA undertaken a similar robust & sceptical examination of Lendy we wouldn't be in this mess. So, do tell us what you hope to achieve?
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ilmoro
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Post by ilmoro on Jun 27, 2020 16:52:34 GMT
You have no idea what Im doing about Lendy. Im merely pointing out the issues & practicalities of your suggestions … had the FCA undertaken a similar robust & sceptical examination of Lendy we wouldn't be in this mess. So, do tell us what you hope to achieve? Recovery of as much money from Lendy loan book as possible … primarily through the reversal of the waterfall.
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Post by default on Jun 27, 2020 16:58:27 GMT
So, do tell us what you hope to achieve? Recovery of as much money from Lendy loan book as possible … primarily through the reversal of the waterfall. I meant regarding the FCA.
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ilmoro
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Post by ilmoro on Jun 27, 2020 18:32:35 GMT
Recovery of as much money from Lendy loan book as possible … primarily through the reversal of the waterfall. I meant regarding the FCA. Nothing, I hold no hope of achieving anything regarding the FCA, far larger and higher profile campaigns have failed. So apart from the usual token gestures of writing to MPs/TSC, I will focus on areas that have some prospect of success.
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Post by billy169 on Jun 27, 2020 18:51:39 GMT
What sort of percentage are we talking about (approx),,if we win or lose with regard the waterfall.??
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michaelc
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Post by michaelc on Jun 27, 2020 18:55:51 GMT
So, do tell us what you hope to achieve? Recovery of as much money from Lendy loan book as possible … primarily through the reversal of the waterfall. Surely you wouldn't mind 5% of your cut to go towards as far as possible ensuring said petroleum derivative become an absent necessity for him? I'd happily forgo 10% of whatever I eventually get back if I thought that was the outcome.
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micky
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Post by micky on Jun 27, 2020 19:24:10 GMT
Is anyone aware what happened to LB's house that was up for sale?
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