ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Aug 16, 2023 20:22:11 GMT
But the FCA has decided there's no fraud to answer for?
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adrian77
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Post by adrian77 on Aug 16, 2023 20:25:53 GMT
course they have - do you expect these idiots on 6 figure salaries to actually do something apart from keep their noses in the trough?
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aj
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Post by aj on Aug 17, 2023 8:00:18 GMT
I don't know much about the bankruptcy process, but is there a limit to how long the borrower can drag it out?
Are we relying on whatever lender got the bankruptcy petition in first (petitioning creditor) actually being motivated to push it through?
If the petitioning creditor isn't actually taking any action to enforce the bankruptcy are the administrators indefinitely blocked from their own enforcement or is there some sort of time limit?
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r1200gs
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Post by r1200gs on Aug 17, 2023 9:31:12 GMT
I don't know much about the bankruptcy process, but is there a limit to how long the borrower can drag it out? Are we relying on whatever lender got the bankruptcy petition in first (petitioning creditor) actually being motivated to push it through? If the petitioning creditor isn't actually taking any action to enforce the bankruptcy are the administrators indefinitely blocked from their own enforcement or is there some sort of time limit? All good questions that I have asked of the administrators and I have been ignored. But then I did use some big words so they likely need the advice of a professional in the study of the English language, that will take £50,000 and will have to be run past legal advice, £45,000. THREE YEARS they have sat on my money, they can't even tell me how the interest will work because no doubt that is going to be the subject of another bun fight when it comes to releasing these funds after all other options to hang on to them have been exhausted.
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adrian77
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Post by adrian77 on Aug 17, 2023 9:35:38 GMT
We nend an expert opinin but I think it is is 3 years ?
But IMHO this is a complete red herring and this bloke is playing for itme and quite possibly in this deal as well - I bet he has planned for going bust, ths won't be the first time and he is lauging at us. Sadly going bust will not ensure the return of our money
If Fs had done their job properly if not legally then we would not be in this mess
Looks to me as if we have been completely shafted...
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rocky1
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Post by rocky1 on Aug 17, 2023 9:58:10 GMT
the administrators are also continuing to frustrate the position on this and all other loans.what the heck are they doing to justify stretching this saga on and on.are they really out of their depth having to seek this advice and that advice on every single matter.all at our cost of course plus their time and costs thrown in.also what sort of bloody update was that ? total p*ss taking.
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r1200gs
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Post by r1200gs on Aug 17, 2023 10:46:08 GMT
the administrators are also continuing to frustrate the position on this and all other loans.what the heck are they doing to justify stretching this saga on and on.are they really out of their depth having to seek this advice and that advice on every single matter.all at our cost of course plus their time and costs thrown in.also what sort of bloody update was that ? total p*ss taking. I agree, they don't know what they are doing and are terrified of releasing any funds in case somebody comes back with a claim for them. Anything even vaguely complex is farmed out at our expense. I do not believe this takes three years if the administrators were determined and competent in getting our money back to us but clearly that is far from their priority.
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Post by overthehill on Aug 17, 2023 12:12:01 GMT
the administrators are also continuing to frustrate the position on this and all other loans.what the heck are they doing to justify stretching this saga on and on.are they really out of their depth having to seek this advice and that advice on every single matter.all at our cost of course plus their time and costs thrown in.also what sort of bloody update was that ? total p*ss taking. I agree, they don't know what they are doing and are terrified of releasing any funds in case somebody comes back with a claim for them. Anything even vaguely complex is farmed out at our expense. I do not believe this takes three years if the administrators were determined and competent in getting our money back to us but clearly that is far from their priority. The administrators are overwhelmed and the lenders are underwhelmed. It's been such a screwup with so many loans still unresolved that you'd have to be naive and stupid to think it's all just down to honest selfless incompetence.
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r1200gs
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Post by r1200gs on Sept 11, 2023 11:03:40 GMT
Well, doesn't time fly. I was looking up the date of sale of this property in order to congratulate the administrators on their 3rd anniversary of failing to distribute the proceeds to investors only to discover I was too late. So a belated third year happy birthday, three years and nearly two months since the property was sold, still nothing for investors. Last update - "Steps to make the guarantor are ongoing.The guarantor is continuing to frustrate the position."
Steps to make the guarantor - what?
What position?
Why can't the funds be distributed?
Who advised the administrators to hold the funds and why?
How is the interest going to be dealt with considering that it continues to accrue on the site to first charge holders?
How many more years is this going to be allowed to drag on for?
This and more questions have been studiously studied and ignored by people holding tens of thousands of pounds of my money.
Incidentally, there are several big hitters in this loan that can surely put some pressure on if they get together? C&G can and will continue to take the piss as long as they think there are no consequences. Any ideas for putting pressure on, anyone?
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jo
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Post by jo on Sept 11, 2023 13:22:20 GMT
Any ideas for putting pressure on, anyone? Twitter.
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rocky1
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Post by rocky1 on Sept 11, 2023 14:30:05 GMT
are they going to use all our funds in the up coming quistclose court case ?
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r1200gs
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Post by r1200gs on Sept 27, 2023 10:59:49 GMT
are they going to use all our funds in the up coming quistclose court case ? It seems to me that these administrations all have one aim - to keep collecting fees as long as there is money to be collected, handing out money to us means less potential fees for them and a possible set of buffers for their gravy train. All the time there is money there, the administrators have a chance of getting their own hands on it. There is no incentive for them to speed this to a conclusion. I'm going to write once more and if that is ignored, time for a solicitor to write.
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r1200gs
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Post by r1200gs on Oct 26, 2023 8:00:46 GMT
There was a bankruptcy hearing a month ago, no updates whatsoever for mg punters.
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adrian77
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Post by adrian77 on Nov 7, 2023 13:41:27 GMT
lastest "update" 2 points 1) however long has this been going on for ? Steps to enforce this started in 29/01/2021 if not before
2) this bloke is clearly experienced in paper-shuffling etc (know what I mean guv!) and I refuse to believe making him bankcrupt will realise a single penny on my loan the valuation was £4.5m and it was sold for 1.5m ? (from memory)
what a bloody shambles and that is being generous
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rocky1
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Post by rocky1 on Nov 9, 2023 9:03:16 GMT
latest update. same as last one.dont know what else to say.
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