GeorgeT
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Post by GeorgeT on Mar 2, 2023 17:38:13 GMT
Last report published in CH. The Administration is finished and moving into Dissolution. Funds are with MT. Should this mean we will now get some of our money back ?
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eeyore
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Post by eeyore on Mar 3, 2023 10:21:39 GMT
Not until the Administrators of MT have had a good wallow in it and then only after they've run out of new ideas for charging more fees...
Insolvency practitioners do seem to aspire to emulate the lawyers for Jarndyce v Jarndyce in Dickens' Bleak House.
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qlassa
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Post by qlassa on Mar 5, 2023 11:42:06 GMT
Last report published in CH. The Administration is finished and moving into Dissolution. Funds are with MT. I don't understand, why are the funds with MT not just distributed to investors?
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TitoPuente
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Post by TitoPuente on Mar 6, 2023 15:29:20 GMT
Last report published in CH. The Administration is finished and moving into Dissolution. Funds are with MT. I don't understand, why are the funds with MT not just distributed to investors? The creditor in the SPV Beau***t Str**t is MT, not us lenders. There is no set timeline for MT to distribute funds to lenders.
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johni
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Post by johni on Mar 6, 2023 15:29:32 GMT
Because if they give it back how do they get their fees paid.
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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 6, 2023 15:56:01 GMT
I don't understand, why are the funds with MT not just distributed to investors? The creditor in the SPV Beau***t Str**t is MT, not us lenders. There is no set timeline for MT to distribute funds to lenders. Not correct, the creditor is MSTL, which acts as security agent on behalf of the lenders. MT/MTSL are still governed by the law & regulations and sitting on funds without good reason is unlikely compliant. Somebody needs to find out why funds arent being distributed. Payment of their fees is covered by a Court Order, they just apply the agreement, and distribute the rest
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averageguy
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Post by averageguy on Mar 6, 2023 20:57:16 GMT
Three months ago….what a joke
28/11/2022 The Administrators are in the process of finalising the distribution and anticipate this to be processed before the next lender update.
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elsee
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Retired:D
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Post by elsee on Mar 8, 2023 21:26:20 GMT
Three months ago….what a joke 28/11/2022 The Administrators are in the process of finalising the distribution and anticipate this to be processed before the next lender update. Explains why there are no updates
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r1200gs
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Post by r1200gs on Mar 9, 2023 10:08:58 GMT
I have not been following this but this situation does not surprise me. The very last thing anybody (apart from lenders!) wants to see is that money going back to the people that is belongs to, there's a whole sea of sharks that are looking for ways to get a bite and one of the biggest sharks is the administrators themselves. You'll get that money when all involved have run out of ideas to keep it for themselves, and they are very creative.
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averageguy
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Post by averageguy on Mar 30, 2023 21:17:03 GMT
Show me the money!
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travolta
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Post by travolta on Mar 31, 2023 13:46:34 GMT
................something to do with the end of the financial year
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Post by webbski9 on Apr 29, 2023 12:14:39 GMT
Hi guys.I have no correspondence from Moneything in many many months ...about anything Where should I go to find out the latest info ? Thanks
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Post by GSV3MIaC on Apr 29, 2023 16:40:31 GMT
Login to their website and read the support notes. Nothing much to see though.
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Post by webbski9 on Apr 29, 2023 17:28:40 GMT
Thank you
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agent69
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Post by agent69 on Apr 29, 2023 18:32:14 GMT
Is it really more than 5 years ago I was reporting on this tub of lard, and things are still not finalised.
Shame, because it looked like quite a nice development.
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