mogish
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Post by mogish on Mar 9, 2021 9:35:56 GMT
Message yesterday re deposited cash to be paid back including interest as a result of PRA intervention.
Dissapointed that another fixed term has ended prematurely but relieved all monies will be returned incl interest to maturity date.
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keitha
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Post by keitha on Mar 10, 2021 10:10:18 GMT
MY understanding is Sanjeev Gupta owns Wyelands, and most of the money investors put in were then loaned to other companies owned by Mr Gupta.
Interesting comment from this is money :- Holders of its 35 and 95-day notice accounts, which have paid zero interest after a succession of cuts, will be paid until the end of the notice period and savers who held fixed-rate accounts will be paid up to the end of their term.
so basically he was getting loans for his business at very low rates.
my reading of the comment is that you will get interest paid to end of term rather than when they send you the cash, also that those receiving zero interest will be paid to end of notice period, now my maths says it doesn't matter if the notice period is 21 days or 21 months if the interest is 0%.
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mogish
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Post by mogish on Mar 10, 2021 10:29:09 GMT
indeed , however fixed rate term accounts will be paid interest up to the date of the original maturity.
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Post by bernythedolt on Mar 10, 2021 11:26:15 GMT
Still, the good taxpayers of Scotland will take very good care of Mr Gupta for several years to come, courtesy of Nicola. www.dailyrecord.co.uk/news/politics/nicola-sturgeon-under-pressure-lochaber-23641047"The collapse of Sanjeev Gupta's finance company has thrown the spotlight on the multi-million pound guarantees given by the Scottish government to the Fort William aluminium smelter." "The guarantee is reported to have provided Gupta’s finance company, Greensill Capital, with a taxpayer-backed stream of cash which provided financial security bonds worth about £360 million to the company." "Over their 25-year lifespan of the deal the securities provided by the Scottish government could have a full value of about £575 million for the financiers. The Fort William deal was accompanied by lavish promises from Gupta to build a new aluminium wheel factory and create 2,000 jobs. But no new jobs materialised..." |
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adrianc
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Post by adrianc on Mar 10, 2021 12:26:07 GMT
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ilmoro
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'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 Mar 10, 2021 12:31:22 GMT
Meanwhile someone is probably hiding in their executive shepherd's hut  |
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mogish
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Post by mogish on Mar 10, 2021 13:34:21 GMT
Meanwhile someone is probably hiding in their executive shepherd's hut No , she just raises our taxes even more(than the 1% higher than south of the border)to pay for more madcap ideas and blunders.
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keitha
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Post by keitha on Mar 10, 2021 13:44:41 GMT
Meanwhile someone is probably hiding in their executive shepherd's hut Well who do you think pays ? I said this many times to people who say the government should pay for X, Y and Z, the government has no money it all comes from the taxes we pay.
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