ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165 
Likes: 4,857
|
Post by ozboy on Jan 19, 2020 13:47:05 GMT
I don't want to turn this thread into another Col/FCA thread, that info is elsewhere but this is how I see the position currently. BDO moved Col from Administration to Liquidation on 10/05/19. When a company is being liquidated the liquidators have a statutory requirement to report once a year so don't expect to hear much from BDO. I have numerous property alerts set but I have seen little movement, I would like to see open marketing of any properties being sold off as opposed to cosy deals being 'negotiated' but I am not on the Creditors Committee so I have no inside knowledge of the goings on. That said I don't expect the outcome after the liquidation to be pretty. The FCAs investigation (possible criminal charges) is ongoing. We should be hearing this month if the investigation is to be extended for another 6 months. I expect it to be but the Complaints Commissioner has his beady eye on the timescale. In reality an extension will have little effect since the extent of our losses is currently unknown, that will only become known at the end of the liquidation. The FCA cynically (I believe) responded to the MPs letter on the day that Parliament was dissolved. Those of you who wrote to your MP and subsequently received the response from the FCA will know that the letter contained many worthy words but failed to address the substantive issues raised. Obviously these questions need to be answered. I will be asking for help again when Parliament is sitting again, a new MPs letter is currently being prepared. I know contacting MPs is not everybody's cup of tea but the first letter had a good response, we need to build on this if we are to maintain pressure on the FCA. As 11025 has said how this debacle came about is very different from Ly, FS and MT, the FCA had a pivotal role. - Collateral told everyone it had FCA permissions.
- The FCA believed Col when they said they had Interim Permissions.
- The FCA displayed Col as having the requisite permissions in its register.
- The FCA accepted a full Part 4A permissions application without checking that it was from the same company that held an Interim Permission.
- The FCA continued discussions with Col for nearly 2 years knowing people were investing.
- When the FCA 'discovered' the issue they continued their discussion with Col for a further 3 months allowing a further +£3m to be invested/lost in an unregulated Company.
The 'lings' and I have documentary proof of all of the above (plus a lot more), it has taken 20 months of daily hard graft to get this far but the picture of the FCAs role is almost complete. The work to reach a satisfactory conclusion continues. Great work for collating everything... I would have thought (touchable or not), these grounds alone make any organisation culpable. As one has proof of the above (in red), then this surely makes the FCA negligent and bordering on involved in the scam. At what point in any business does someone go on "belief"!? With all that is happening with these companies, FS, Lendy, Collateral, it is hard to keep a track on all of them, but in this case, even from an onlookers angle, it is impossible to see how the FCA were not seriously culpable in this.You are correct gc. Of all the avoidable P2P collapses (and they were avoidable, if the FCA did even half its job), COLL is unique and its Investors did absolutely nothing wrong, except to follow clear FCA/Government advice, as instructed! For which we now stand to lose our shirts. The FCA is 100% complicit and guilty in the COLL collapse, they caused it, and aided, abetted and perpetuated it even before the collapse. Bailey, however, calls it ............. "unfortunate"!!!!
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
|
Post by ozboy on Jan 18, 2020 20:28:53 GMT
Yes, would appear so agent69, shame.  |
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
|
Post by ozboy on Jan 18, 2020 20:19:11 GMT
Is there really no-one out there residing in the Salisbury constituency?
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
|
Post by ozboy on Jan 16, 2020 13:11:42 GMT
After the monumental and numerous failings he presided over, and caused, at the FCA, God help us.
He will soon be in a position to wreck the country as well.
You read it here first.
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
|
Post by ozboy on Jan 16, 2020 12:07:09 GMT
A full and thorough independent enquiry/investigation into The RICS Racket is long overdue. Many of these "Professional" bodies are FAR from that, they exist purely for their own protection, not ours. As most of us are aware.  |
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
|
Post by ozboy on Jan 16, 2020 12:01:55 GMT
Apologies for that jonno, I am very practical and a staunch realist, I easily forget that others don't always share my attitude. I suppose it's because if I expect and condition myself for the worst then I get no surprises, and anything "better" is a win. |
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
|
Post by ozboy on Jan 16, 2020 10:59:26 GMT
I'm thinking wot everyone's thinking.
"Ours" is a counterfeit coin?
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
|
Post by ozboy on Jan 15, 2020 16:33:28 GMT
Certainly looks a perfect get-out clause. I'd be more inclined to ask what the hell were FS doing, offering such a colander-investment to their mugs investors - us - and what were we doing walking lemming-like towards the cliff?FS were trusted. In the early days. [EDIT: I mean, they were "vetted" by the FCA.  ] Until it became blatanly obvious they couldn't be trusted. At ALL.
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
|
Post by ozboy on Jan 15, 2020 16:29:51 GMT
Yerright, it's frightening that there may still be some out there who are unawares. Not referring to you zlb.  |
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
|
Post by ozboy on Jan 15, 2020 13:39:19 GMT
Can property developers simply be divided between those who self-fund and those who don't? Are larger companies lent to by banks? Who are these people? I've often seen comments on property p2p platforms about the borrowers being the least trustworthy as they are either too inexperienced and therefore unreliable; or at the far end of the spectrum of dodgy behaviour, didn't have any intention of paying a p2p loan back. Would a bank have lent to a borrower project which ended up with student halls which didn't pass building regulations for fire safety? If not, then which platforms might this sort of error get missed on by that platforms DD? What about valuations - was Ly the outlier in their wrong valuations combined with borrower behaviours?I see RICs valuations still cited as a secure and trustworthy point in property development.Is it simply a matter that if a developer can't borrow from a bank that means that they are dodgy on the Venn diagram of borrowers? Oh Dear.
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
|
Post by ozboy on Jan 15, 2020 13:31:37 GMT
If so, can you please contact me via personal message. There is an important avenue to be followed up on the road to getting our money back. Your Anonymity is assured and can be kept as much as you want. I await to hear from you! Cheers. OzBoy. |
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
|
Post by ozboy on Jan 10, 2020 14:15:07 GMT
Good move, whack it all into and evenly amongst a Tracker/s, Fundsmith and/or Similar, Vanguard and/or Similar, and some Gold in case of Total Collapse, then get a life.  |
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
|
Post by ozboy on Jan 8, 2020 18:56:36 GMT
Truly EXCELLENT work duck by you and your Associates, THANK YOU, on behalf of all long suffering and almost certainly VASTLY poorer Collateral Lender Investors who continue to be tortured by the totally incompetent and ineffective FCA who caused this fiasco. And Bailey walks away from. |
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
|
Post by ozboy on Jan 7, 2020 16:09:17 GMT
Companies In The UK - Company Change MONEYTHING CAPITAL LIMITED You have been sent this email because you are following MONEYTHING CAPITAL LIMITED (05254797) The following changes have just been detected: New company document available: Annual Accounts - ACCOUNTS FOR 'SMALL' CO. MADE UP TO 31/03/19 (received: 7 January 2020) New company document available: MR01 - REGISTRATION OF A CHARGE / CHARGE CODE 052547970001 (received: 7 January 2020) View the latest Annual Accounts (direct link to PDF document) www.companiesintheuk.co.uk/form/moneything-capital/AA/2019-03-31/511780232
View the full details of these changes at the Companies In The UK website |
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,165
Likes: 4,857
|
Post by ozboy on Jan 7, 2020 14:48:43 GMT
I think we all know now ( I have known for years) that the vast majority of "Valuations" are a complete ConScam. (not referring to UNB) Having met with the Directors of Unbolted I agree that they seem to be intentioned to playing a straight bat and getting Valuations as right as can be reasonably expected, but Art is dodgy at the best of times. But then, I also in the early days met with the Collateral and Funding Secure Directors.  |
|
]
