ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,474 
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Post by ilmoro on May 20, 2023 10:25:49 GMT
Here's a question for you ilmoro . Within any IP's organisation, their own, directly employed staff get paid, say, Ordinary Clerk, at £15 per hour. But when that Ordinary Clerk happens to be working on an IP case, they are suddenly & magically promoted to Super Duper Clerk, and charged out at £100 to £200 per hour? I don't know many Ordinary Clerks in the UK on £195,000 to £390,000 pa. (37.5 hour week) Do you?  Reference / ChatGPT - "The average fee per hour charge-out rate for a clerk in an insolvency case in the UK can vary depending on factors such as the specific region, experience level, and complexity of the case. However, as of my knowledge cutoff in September 2021, the average charge-out rate for a clerk in insolvency cases in the UK ranged from £100 to £200 per hour. It's important to note that rates may have changed since then, and it's advisable to consult current industry sources or professionals for the most up-to-date information."I dont dispute that, its a racket ... but its not relevant in this case. They can pay the clerk whatever they like, it still has to come out of the 2.5% they get from realisations. So if a loan recovers £1000, they get £25, whether they spend 6mins (£10) or 6hrs (£600) on it.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,088
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Post by ozboy on May 20, 2023 13:23:39 GMT
"I dont dispute that, its a racket ......"That's one thing we agree on, and I would think everyone else on here agrees too.  Except any IPs on here. Of course!
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adrian77
Member of DD Central
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Post by adrian77 on May 20, 2023 22:13:43 GMT
When solicitors did house convenyancing I met a couple of clerks from a legal practice who told me they did 90% of the work and a solicitor then checked it over
but the client was charged as if the solicitor did the lot. I wonder is something similar ever happens with administrators - of course not you shout...
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Post by Gisele on May 22, 2023 9:14:14 GMT
I've just received a document update from the Admins. Nothing particularly earth-shattering other than the platform is to reopen for withdrawals on 22nd May. Well, it's now the 22nd May and ... no surprise perhaps ... there are still no funds available for withdrawal on the FS site.
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Post by overthehill on May 22, 2023 10:17:37 GMT
I've just received a document update from the Admins. Nothing particularly earth-shattering other than the platform is to reopen for withdrawals on 22nd May. Well, it's now the 22nd May and ... no surprise perhaps ... there are still no funds available for withdrawal on the FS site.
So they didn't start early for the big day ahead, very strange. They are also 22 days late for the quarterly updates, could be any excuse, maybe they plan to clear the backlog of completed loans first.
The office is also Manchester and Man City won the premier league yesterday!
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jo
Member of DD Central
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Post by jo on May 23, 2023 6:58:01 GMT
What do we reckon, last minute hissy fit by quaziclose quentin?
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upland
Member of DD Central
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Post by upland on May 23, 2023 7:01:22 GMT
Did we have to do anything ?
They closed the website for a few days and I thought that they were going to do something to it regarding this distribution but I could not see any changes. Lets hope today that they get around to it.
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Post by overthehill on May 23, 2023 9:17:15 GMT
What do we reckon, last minute hissy fit by quaziclose quentin?
I stopped reading the circus bi-a.n.a.l no-progress updates. But I did go looking to see where this 22may information came from and it says 'anticipated to start 22may' so that means this year sometime.
It also reminded me the administration is charging 2023 prices for 1970's fax technology. The progress update isn't even in document format, basically a scan, impossible to search, so you have read every paragraph to find what you're looking for, just pathetic.
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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
Posts: 10,474
Likes: 10,638
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Post by ilmoro on May 23, 2023 9:48:53 GMT
What do we reckon, last minute hissy fit by quaziclose quentin?
I stopped reading the circus bi-a.n.a.l no-progress updates. But I did go looking to see where this 22may information came from and it says 'anticipated to start 22may' so that means this year sometime.
It also reminded me the administration is charging 2023 prices for 1970's fax technology. The progress update isn't even in document format, basically a scan, impossible to search, so you have read every paragraph to find what you're looking for, just pathetic.
Your 20 yrs early, its 1990's tech.  PDF Format as required for uploading to Companies House.
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r1200gs
Member of DD Central
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Post by r1200gs on May 23, 2023 11:09:28 GMT
What do we reckon, last minute hissy fit by quaziclose quentin? That would be my guess, and only a guess.
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aj
Member of DD Central
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Post by aj on May 23, 2023 11:38:58 GMT
I stopped reading the circus bi-a.n.a.l no-progress updates. But I did go looking to see where this 22may information came from and it says 'anticipated to start 22may' so that means this year sometime.
It also reminded me the administration is charging 2023 prices for 1970's fax technology. The progress update isn't even in document format, basically a scan, impossible to search, so you have read every paragraph to find what you're looking for, just pathetic.
Your 20 yrs early, its 1990's tech. PDF Format as required for uploading to Companies House. I think the complaint is that the PDFs we get are 'image only' as if it's been printed off onto paper then scanned back in (Like a fax machine). A 'proper' digital PDF will have gone directly from the word processor into PDF format. This gives a better image, smaller file size and extra features like being able to copy/search within the text. Not providing a digital PDF of a document clearly created on a computer is a red flag for poor IT skills!
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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
Posts: 10,474
Likes: 10,638
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Post by ilmoro on May 23, 2023 11:58:35 GMT
Your 20 yrs early, its 1990's tech. PDF Format as required for uploading to Companies House. I think the complaint is that the PDFs we get are 'image only' as if it's been printed off onto paper then scanned back in (Like a fax machine). A 'proper' digital PDF will have gone directly from the word processor into PDF format. This gives a better image, smaller file size and extra features like being able to copy/search within the text. Not providing a digital PDF of a document clearly created on a computer is a red flag for poor IT skills! Seems to be the case for all administrator reports, all seem to be image only copies of paper & none of them are searchable PDFs on CH. They are legal docs and probably need to be hard copy for archival purposes.
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aj
Member of DD Central
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Post by aj on May 23, 2023 12:16:12 GMT
Just because all administrator reports might legally need a paper copy rubber stamped in red ink and stored for at least 10 years in a dusty filing cabinet somewhere doesn't mean it's not 1970s technology!
The legal profession still needs dragging into the 21st century.... and we're almost a quarter of the way through it already!
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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
Posts: 10,474
Likes: 10,638
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Post by ilmoro on May 23, 2023 12:37:02 GMT
Just because all administrator reports might legally need a paper copy rubber stamped in red ink and stored for at least 10 years in a dusty filing cabinet somewhere doesn't mean it's not 1970s technology! The legal profession still needs dragging into the 21st century.... and we're almost a quarter of the way through it already! Well clearly, given that the PC it was typed on is 1970's technology, though the WWW its sent over & the PDF format it needs to be provided in are from 1980's & 90s so I guess there is some progress on the fax machine there. The legal profession does youtube & zoom/teams - how modern do you want? 
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aj
Member of DD Central
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Post by aj on May 23, 2023 15:18:24 GMT
They're still clinging on to those ridiculous wigs so I think a paperless archive system is due some time in 2231! I'm not sure if the FS administrators will release any funds before then though... |
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PDF Format as required for uploading to Companies House.
