Mousey
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Post by Mousey on Aug 2, 2022 18:15:18 GMT
The former Chief Financial Officer of FCA Regulated firm Lendy has today begun his multi-million-pound claim against his former boss and employer at the London Central Employment Tribunal. Read the write-up of the first day on my blogSome considerable expenditure has being made to cover these proceedings and future coverage will be behind a paywall. |
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r1200gs
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Post by r1200gs on Aug 3, 2022 7:55:43 GMT
And if he gets his 6.6 million, where does the money come from?
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quidco
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Post by quidco on Aug 3, 2022 10:44:55 GMT
Claiming he missed out on a £2.75m bonus
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quidco
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Post by quidco on Aug 3, 2022 10:47:53 GMT
And if he gets his 6.6 million, where does the money come from? Where does the money come from for the tribunal? The only money these people have is the percentage of lenders' capital they've managed to recover as far as I'm aware
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Mousey
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Post by Mousey on Aug 3, 2022 11:16:12 GMT
I'm told the tribunal will not be sitting today due to unforeseen circumstances.
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r1200gs
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Post by r1200gs on Aug 3, 2022 11:33:00 GMT
Claiming he missed out on a £2.75m bonus Oh, poor wee lamb, the horror of not being able to add a few more million of other people's money to his already stashed millions. Another bloody vulture sitting on the corpse.
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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 Aug 3, 2022 11:59:12 GMT
And if he gets his 6.6 million, where does the money come from? Where does the money come from for the tribunal? The only money these people have is the percentage of lenders' capital they've managed to recover as far as I'm aware Nope, they have £1m from the bank account £500k from the PF, £3.8m from loan realisations, £1m from a PI claim, plus costs & fees claimed from lenders to date - about £9m in total. Unfortunately they've spent that & more. So the answer will be from the hoped for proceeds of the claim against the directors & the claim against the lawyers.
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micky
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Post by micky on Aug 3, 2022 12:32:24 GMT
I'm told the tribunal will not be sitting today due to unforeseen circumstances. A deal being done in private? 
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Mousey
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Post by Mousey on Aug 3, 2022 13:11:39 GMT
I'm told the tribunal will not be sitting today due to unforeseen circumstances. A deal being done in private? I am aware of the reason and it's unconnected to the issues in the case or the parties.
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Mousey
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Post by Mousey on Aug 4, 2022 14:25:04 GMT
It was "extremely concerning to the FCA" after failed P2P company Lendy disclosed a "Privileged and Confidential" letter to lenders, the Employment Tribunal heard this morning The letter, describing litigation brought about by a borrower in the so-called London Loans, was reported on by The FT at the time  The FCA only learnt about the letters existence after reading about it on the 'P2PIndependentforum', documents reveal  |
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Mousey
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Post by Mousey on Aug 4, 2022 19:38:43 GMT
Lendy: "It was a dysfunctional company", tribunal hears on 2nd day
Blog post here #paywall Read claims that Lendy employees were forced to meet in the car park to avoid being heard by “office listening devices”. And how reviews on TrustPilot were artificially manipulated to show higher ratings of customer satisfaction. See e-mails suggesting how a New York helicopter trip and a supercar experience could be justified as a business expense And how Liam Brooke “ directed that Lendy should pay his wedding expenses and record the outlays as Lendy’s ‘marketing’ expenses”
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jhamster
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Post by jhamster on Aug 4, 2022 21:16:28 GMT
Lendy: "It was a dysfunctional company", tribunal hears on 2nd day
Blog post here #paywall Read claims that Lendy employees were forced to meet in the car park to avoid being heard by “office listening devices”. And how reviews on TrustPilot were artificially manipulated to show higher ratings of customer satisfaction. See e-mails suggesting how a New York helicopter trip and a supercar experience could be justified as a business expense And how Liam Brooke “ directed that Lendy should pay his wedding expenses and record the outlays as Lendy’s ‘marketing’ expenses” They certainly were manipulating Trustpilot reporting everything under 5 stars as "defamatory and libellous" in order to have it removed instantly.
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jhamster
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Post by jhamster on Aug 4, 2022 21:24:22 GMT
"Dear X,
Thanks for using Trustpilot to review www.lendy.co.uk.
www.lendy.co.uk has reported your review for containing language that’s accusatory or defamatory. The following is problematic:
“They have stopped responding to investors, it's like a collapsing Ponzi”
“Lendy won't let investors access funds anymore and keep fobbing me off with copy+paste replies"
We can't allow these kinds of statements on Trustpilot because they risk causing offence to people, contravene our User Guidelines, and may also break the law.
We'd really like to put your review back online. All you need to do is change or take out the part that we've highlighted above.
Here’s how:
1. Log in to your profile using this link.
2. Modify your review of www.lendy.co.uk so that it still explains why you're dissatisfied, but doesn’t contain the wording identified above.
3. Click on Post your updated review."
Pretty much any review I wrote was reported before they eventually left one up, but then falsely reported it again a week or so later.
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jhamster
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Post by jhamster on Aug 4, 2022 21:27:41 GMT
Dear X,
Thanks for reviewing www.lendy.co.uk on Trustpilot.
www.lendy.co.uk has reported your review because they don’t believe you’ve had a genuine buying or service experience. Reported reviews are temporarily moved offline.
We’d like to verify your experience so that we can put your review back online. Help us do that by sending documentation showing your buying or service experience with www.lendy.co.uk.
All you need to do is:
1. Find your order confirmation, invoice, delivery report or proof of service with www.lendy.co.uk. The documents should show: the name of the business, the name of the buyer (your name), the date, and a reference number. See more here.
2. Send your documents by replying to this email. We accept forwarded emails from www.lendy.co.uk, screenshots of user registration/profile or similar, and pdf attachments.
When we receive your documentation, we’ll review it and get back to you. We won’t share your documentation but your reference number will be visible to the reviewed company. If you don’t want this information shared let us know and we’ll be happy to honor your request.
If we don't hear from you within 7 days, we’ll have to keep your review offline. We won’t delete it though, so if you send your valid documentation at a later stage we can reinstate it.
If you have any questions, try visiting our Support Centre, or ask us by replying to this email.
Best regards,"
etc..
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Mousey
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Post by Mousey on Aug 5, 2022 20:57:46 GMT
Lendy was in "regulatory financial cardiac arrest", tribunal hears on 3rd day
Today the tribunal heard: How Kieran O’Connor allegedly said “lenders on Lendy's peer-to-peer lending platform should be regarded as 'punters' who were taking risks that they should have known about.” That the CEO and CFO “were good at giving abuse to people and that created a toxic environment” And: "What is running through these submissions is not an innocent understanding of events but a fraudulent and conniving use of sham documents, making fraudulent misrepresentations, and deliberately disguised payments." Read more on my blog
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