27-04-2018, 10:03 PM
I would also like to thank those who attended today & for updating us.
Court Hearing 27th April 2018
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27-04-2018, 10:03 PM
I would also like to thank those who attended today & for updating us.
27-04-2018, 10:51 PM
(27-04-2018, 10:03 PM)gareot Wrote: I would also like to thank those who attended today & for updating us.Yes thank you Panther and Micky.. I didn't feel so alone.We had a good chat with the guys for the FCA and bdo and I am thankful that RR and the Currie Brothers are out of the picture.The FCA strongly alluded the fact that there were discrepancies and they did not become involved until someone alerted them to the otherforum. The website was taken down prior to FCA involvement.
27-04-2018, 10:56 PM
(27-04-2018, 10:51 PM)blink Wrote: Yes thank you Panther and Micky.. I didn't feel so alone.We had a good chat with the guys for the FCA and bdo and I am thankful that RR and the Currie Brothers are out of the picture.The FCA strongly alluded the fact that there were discrepancies and they did not become involved until someone alerted them to the otherforum. The website was taken down prior to FCA involvement.Thank you @blink and for your report on the P2P independent forum, would you mind posting it here for those that do not have access there?
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, 11:05 PM
(27-04-2018, 10:56 PM)dualinvestor Wrote: Thank you @blink and for your report on the P2P independent forum, would you mind posting it here for those that do not have access there?Not a problem.. Hi I attended the court hearing today form 10.30 to finish at approx. 15.15 pm. Judge was Judge Pelling Court number 40 Case number 2168/2018 obtained by Leopard cat, who was also present along with Micky who both arrived just before dinner. I am going to commence backwards as a lot of the information is in my head after talking to the people from the FCA and also BD0. Points FCA and BDO are now acting on our behalf. FCA stated the court transcripts will be available and can be obtained on form ex107.. see above for case number etc. I am unsure where to obtain these forms, though sure someone will know. FCA told us the transcripts will be enlightening, as much is there that was not said in court. FCA have frozen the all the bank accounts of the Curry brothers and explored all their other assets. Including checking offshore. FCA were unaware of anything untoward until THEY where alerted to this forum.. The website was taken down by the Curry brothers before the FCA requested it. £390,000.00 was taken from the client accounts on 13th and 26th February.. Stated for business profits. Costs awarded against the Curry brothers. They are asking for 28 days to pay.. They and their solicitor did not prepare a defence.. stating they did not have enough time and it was prohibitively too expensive. They were requesting an adjournment. FCA stating BDO will set up 5 workstreams 1. A website to deal with all queries, as they stated telephone queries etc will not allow them to get on with the job in hand. 2. Securing the Platform and ascertaining the investor details. 3 Securing all the assests. 4 Checking out all legal issues 5 Looking at Legal procedures. Judge and FCA have stated courts exercise control over charges incurred. "Investors/Creditors can be assured control mechanisms are in place to control cost. FCA have stated they will be posting on there website updates as to how things are progressing etc. BDO have offices in London and Manchester and a lot of the work will be done by Manchester staff. Main contacts at BDO are Sarantis Chiotis Manager who will be first poing of contact and Shane Crooks Partner. One on other thing. They was another investor there (high worth) who stated to us that he had telephoned one of the Curry brothers 2 weeks ago and was given access to the website. So it was still there then. I was there for the morning, but much of those arguments are not really necessary now, as the final outcome is set. BDO with FCA overseeing things. Hope this helps.
27-04-2018, 11:26 PM
Many thanks to @blink and @mickj in addition to @panther VERY HELPFUL AND INFORMATIVE information, if I were closer I would buy you all a drink.
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.
28-04-2018, 12:38 AM
(27-04-2018, 02:38 PM)dualinvestor Wrote: Are you sure it is lazzars not Mazzars? I know of a certain poster called yorkshireman will approve of the latter as they sponsor the Yorkshire Cricket Club. As far as I am aware there is no firm of Insolvency Practitioners or Accountants called Lazzars (or variation of spelling), Mazzars are a top 20 firm (quite a material difference in size to BDO) with insolvency experience.Yes, Mazzars- Mr Mather and Harris they had presented a quote for the statutory work only but had not made an application to the court to act as administrators for this case.
28-04-2018, 12:40 AM
(27-04-2018, 11:05 PM)blink Wrote: Not a problem..Also-Post Options Post by micky on 46 minutes ago Great to meet you today Blink and Leopardcat/Panther plus one other. I really enjoyed our conversations over lunch and then the opportunity to discuss issues with Shane Crooks from BDO and the FCA's legal representative was eye-opening. Our contact with BDO will be Sarantis Chiotis, his email will be released shortly for 'investor creditors' to make direct contract with him. BDO will then have a website for investors to access and to keep updated on the progress that BDO is making. Blink.. well done, what a thorough review of the day's proceedings. I will try to develop some of the points but will no doubt duplicate your detail. Judge Pelling stated that the FCA had been successful with all points raised and had no issue with their conduct throughout other than to question the costs of their legal team and reduce them by 6K, these are the for the duplication of silks and juniors work when the FCA authorized the freezing of the partner's financial accounts. Then again these costs are the legal responsibility of the Curry's and not payable from the Collateral businesses. Mr. Craig of RR was not in court and left a witness statement withdrawing from any involvement in the administration process. The FCA commented that RR had not presented any documentation that had been requested re the business activities of Collateral. Mr. Craig has also stated that he would return to the business all fees that he has been paid by the partners.
29-04-2018, 11:39 AM
I am moving the posts that do not relate to the court case to the "Collateral in Administration" thread so the excellent reporting of the court case by @panther (and the imported posts of @blink) do not get lost amongst the general chatter.
EDIT if you think a post should remain on this thread please pm me. EDIT 2 Thread now locked if you have anything to add re the court case please post on the Collateral in Administration thread and pm me and I will transfer it to here. |