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.
Minor shareholder in AC, BO, FO, CP, WA, Pfi, Ccube, Sdrs, AE, ABL. AC beta test. LAG, MTAG, FSAG
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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."