pikestaff
Member of DD Central
Posts: 2,187 
Likes: 1,545
|
Post by pikestaff on Sept 9, 2023 9:32:15 GMT
They appear to have re-done the numbers. Our accounts had a lot of additional posts on Friday 1/9. Following those posts the numbers are a lot closer to what I was expecting, and very slightly up overall. I will still be writing to them today, though. I wrote to BLN Admin, with a copy to one of my contacts at Kroll. I've had a reply from Kroll. The main points are: - There were no objections to the Final Report contained in the update of 17 May, and distributions were made in accordance with that report.
- The distributions are complete.
- They had to be made in two parts, because part was from the Client Money Pool bank account (collections prior to the administration), and part was from the PPE client bank account (realisations post the appointment of administrators). The latter were subject to the 25% retention.
- Kroll had not intended to issue any further communication on this matter.
I have replied to the effect that I wasn't expecting any further communication from Kroll as such, but I do think there ought to have been (and should be now) something from BLN Admin - particularly as the amounts distributed differ from those foreshadowed in the Final Report.* Whether this elicits anything remains to be seen. Apparently I'm the only person to have written to Kroll about it (which doesn't necessarily rule out that others might have written to BLN Admin). * In case of interest, the differences on our loan parts are not massive, but neither are they all trivial. There are both ups and downs, which net out to 2.4% up overall.
|
|
|
|
Post by bracknellboy on Sept 11, 2023 12:21:51 GMT
apologies for my forgetfulness, but can someone remind me of the difference between the CMP and PPE cash accounts ? The Cash Retention I assume / believe is the administrators hold back of cash to cover fees, and hence why I can no longer remember the difference between the other 2.
|
|
pikestaff
Member of DD Central
Posts: 2,187
Likes: 1,545
|
Post by pikestaff on Sept 11, 2023 13:18:34 GMT
CMP (Client Money Pool) is for amounts collected pre-administration, and not subject to the retention.
PPE (I forget what that stands for) is for amounts collected post administration, from which the retention has been deducted.
For the first time in a long time I've got cash in both pots. That's because the NG distributions on 30/8 were from the CMP, whereas those on 1/9 were from PPE.
When requesting a withdrawal I always check both boxes regardless, just in case there's something in both pots by the time they get round to processing my request.
|
|
