27-04-2018, 04:40 PM
Good work @panther, many thanks - what a saga this is........
Court Hearing 27th April 2018
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27-04-2018, 04:47 PM
Thank you panther much appreciated
27-04-2018, 04:53 PM
Thanks a lot for this Panther.
Wow so if the Currie's really have ran off with £400k of the money in February ( and this is pure speculation) could this be anything to do with the funds from the additional Bolton tranches and Chesterfield loans that didn't draw down? Although the RR report suggested there was still a fairly health balance in the client account (if we can believe it): "In the client account there is a balance of £395,404, which principally relates to 777 individuals who have deposited money amounting to £370,553"
27-04-2018, 05:14 PM
(27-04-2018, 04:36 PM)frankspencer Wrote: Crikey, @panther, thank you for all the detail. An arresting situation, I think. Was the press there, did you notice?Did not see any press. Think only 4 of us were investors. Told the 2 individuals about frank. Rest seemed to be there professionally. Re 777 individuals the London chap was an institutional investor who had quiet chat with curry. He says that he was given access to whole col website by Andrew C 2 to 3 weeks ago. Also states that A told him that total number of investors was around 300. He would not give his name.
27-04-2018, 05:18 PM
If you are a COL investor then good idea to send your name, email, account number, and approx amount on platform to:
Sarantis.Chiotis@bdo.co.uk I have his permission to put that on here.
27-04-2018, 05:24 PM
(27-04-2018, 04:11 PM)panther Wrote: as they have had no access to database.Further congrats on a successful mission @panther Assume they will get access pdq now ? A couple of pairs of plank-walking boots may be required ! P-)
27-04-2018, 05:25 PM
@panther , thank you so much for being our eyes and ears. Would have been very interested to have been there myself but unfortunately not possible. Some of the things you have reported are things that we did not want to hear, but better that we find out now rather than later.
The more I hear, the more I believe that the decision to replace RR was the right one. His Honour obviously felt likewise. I wait with great interest the first official report from BDO once they have managed to to take control and asses the damage. Maybe at that point we will have a better idea regarding what (and when) we are likely to get back.
27-04-2018, 05:28 PM
(27-04-2018, 04:53 PM)monetus Wrote: Thanks a lot for this Panther.If any of the directors have "made unauthorised use" of money from the client account,then I assume that it will be up to the administrator to take action to recover it? Would the corporate veil protect them from investors making any direct claim, either individually or as a group?
27-04-2018, 05:32 PM
I would like to thank you for the effort you have given today. Also a thank you to locutus for showing me the right path.
27-04-2018, 05:34 PM
Thanks Panther.
Your information was so good, I had to register, just so I could thank you.
27-04-2018, 05:34 PM
Also great thanks to panther.
Why did RR allow this to progress to a court case incurring costs, and then offer no defence? So many twists to this saga. Edit: Blink has now posted his summary of events on the other forum
27-04-2018, 05:34 PM
"They have searched for overseas accounts re Curries. UK accounts are frozen."
A few words can speak volumes. Thank you again @panther.
PLEASE NOTE : My opinions are of a personal nature. I am not a professional financial advisor. My observations and views should not be taken as advice. I accept no responsibility or liability for the accuracy or completeness of any of the information in my posts.
27-04-2018, 05:42 PM
(27-04-2018, 05:18 PM)panther Wrote: If you are a COL investor then good idea to send your name, email, account number, and approx amount on platform to:Account #? Yikes....then again probably what we used on our money transfers...
27-04-2018, 05:45 PM
27-04-2018, 05:46 PM
27-04-2018, 05:50 PM
(27-04-2018, 04:11 PM)panther Wrote: ..........A Creditors Committee will be formed if a meeting of creditors is held, by request of more than 10% by value of creditors in response too the Administrators proposals, and one is nominated. Attendance can be in person or by proxy. It is fairly safe to assume the Refresh Recovery ones of 23 March are null and void, not least because if the reports of the previous hearing of 16 March are correct, due to the halt on proceedings in the Administration that were in effect at that time. The functions of the Committee are set out in schedule B1 of the Insolvency Act 1986. The member of the committee can be a creditor or a person nominated by them or a group of them. I have not seen the judgement but would presume the judge has reset the timetable so the proposals can be expected in the next eight weeks from BDO and sent directly to you by BDO not "leaked" through a semi private internet forum.
The opinions and observations that I display on this forum are personal and do not necessarily concur with the proprietors of the forum. I represent no platform or other organisation in my postings and my remarks should not be taken as advice. I accept no responsibility or liability for the accuracy, content, completeness, legality, reliability of the information contained in my posts. Or for people acting or refraining to act upon them.
27-04-2018, 05:50 PM
Thank you big cat. BTW have you changed your spots?
27-04-2018, 05:57 PM
(27-04-2018, 05:46 PM)investibod Wrote: I was thinking the same thing. Checked through the emails I had received from Col and could not find an account number, so decided to use the reference from the bank transfers.The CUK account number should be the first 6 characters (e.g. C00123) in your bank reference: The rest relate to your bank account number.
27-04-2018, 06:04 PM
27-04-2018, 06:22 PM
Good work panther ??
27-04-2018, 06:48 PM
I would like to chip in with my Thank You as well
27-04-2018, 07:41 PM
Champion!
27-04-2018, 08:05 PM
THe BDO chap told us that we could volunteer ourselves for the creditors' committee and invited me to do so. Sounds like that certainly is not the usual protocol @dualinvestor, but maybe given that the creditors are ordinary bods like us, he was just being less formal, and letting us know that before the formal situation.The creditors' committee came up several times in court so it not unreasonably came up in post court chats. Fully respect that putting it here is jumping the gun a bit, but just repeating what he said.
27-04-2018, 08:29 PM
(27-04-2018, 08:05 PM)panther Wrote: THe BDO chap told us that we could volunteer ourselves for the creditors' committee and invited me to do so. Sounds like that certainly is not the usual protocol @dualinvestor , but maybe given that the creditors are ordinary bods like us, he was just being less formal, and letting us know that before the formal situation.The creditors' committee came up several times in court so it not unreasonably came up in post court chats. Fully respect that putting it here is jumping the gun a bit, but just repeating what he said.He was probably just anticipating events and presenting it in a "user friendly" way to lay people. It is, usually difficult to get volunteers to serve on a committee, most often an insolvency office holder likes one because it is easier to get approval of the things closest to their hearts, fees. This is an extract from schedule B1 referred to in my earlier post Creditors? committee 57(1)A creditors? meeting may establish a creditors? committee. (2)A creditors? committee shall carry out functions conferred on it by or under this Act. (3)A creditors? committee may require the administrator? (a)to attend on the committee at any reasonable time of which he is given at least seven days? notice, and (b)to provide the committee with information about the exercise of his functions. It all sounds pretty formal but in practice it is generally pretty relaxed. From your court reporting you seem pretty well qualified to join and understand the procedings, but, if you wish you can normally find someone to do it for you free of charge, usually another practice of Insolvency Practitioners, pm me if you wish to exercise this option for a referral.
The opinions and observations that I display on this forum are personal and do not necessarily concur with the proprietors of the forum. I represent no platform or other organisation in my postings and my remarks should not be taken as advice. I accept no responsibility or liability for the accuracy, content, completeness, legality, reliability of the information contained in my posts. Or for people acting or refraining to act upon them.
27-04-2018, 08:44 PM
Thanks panther
27-04-2018, 09:11 PM
And thanks too to @dualinvestor. His inside knowledge has been greatly missed.
27-04-2018, 09:55 PM
Many thanks to everyone for keeping us up to date. I'm probably a small investor compared to most here but still interested in retrieving as much as possible from this mess.
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