r1200gs
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Post by r1200gs on Apr 30, 2023 16:27:24 GMT
Unless I am missing it, this appears to be a largely unsupervised administration with the administrators doing what the hell they like. Other administrations have seen serious crowd action and indeed, legal action. Without that threatened, why would the people dealing with this give a shiite? It's perfectly clear that these people see their job to be to remove as much money for themselves as possible, indeed money for us is probably met with a sense of failure.
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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 Apr 30, 2023 21:21:11 GMT
Unless I am missing it, this appears to be a largely unsupervised administration with the administrators doing what the hell they like. Other administrations have seen serious crowd action and indeed, legal action. Without that threatened, why would the people dealing with this give a shiite? It's perfectly clear that these people see their job to be to remove as much money for themselves as possible, indeed money for us is probably met with a sense of failure. You are, there was indeed an attempt to organise crowd legal action but with very little support. At least, one prominent LAG & FSAG member involved, with the former arguing robustly in Court but without legal support doomed to failure.
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r1200gs
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Post by r1200gs on May 1, 2023 9:23:22 GMT
Unless I am missing it, this appears to be a largely unsupervised administration with the administrators doing what the hell they like. Other administrations have seen serious crowd action and indeed, legal action. Without that threatened, why would the people dealing with this give a shiite? It's perfectly clear that these people see their job to be to remove as much money for themselves as possible, indeed money for us is probably met with a sense of failure. You are, there was indeed an attempt to organise crowd legal action but with very little support. At least, one prominent LAG & FSAG member involved, with the former arguing robustly in Court but without legal support doomed to failure. I have seen nothing of this, in fact I almost forgot about MT. I don't believe I have had a single communication in years an years. What was argued in court?
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r1200gs
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Post by r1200gs on May 1, 2023 12:11:10 GMT
Just had a look around the site and the loans. This really is an unfettered fee gorging session, eh?
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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 May 1, 2023 18:43:04 GMT
You are, there was indeed an attempt to organise crowd legal action but with very little support. At least, one prominent LAG & FSAG member involved, with the former arguing robustly in Court but without legal support doomed to failure. I have seen nothing of this, in fact I almost forgot about MT. I don't believe I have had a single communication in years an years. What was argued in court? The directions hearing on the appointment of a conflict administrator and the agreement on what fees MT could charge for winding the loan book down. You should have been sent all the Court docs & an email notifying you of the action group.
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r1200gs
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Post by r1200gs on May 2, 2023 12:06:04 GMT
Well, found the action group and joined up, better late than never. Well, maybe not.
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averageguy
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Post by averageguy on May 10, 2023 10:45:19 GMT
Ok…for what it’s worth spoke with someone at Moorfields….info/update etc should be with us shortly …asked to define shortly …’’up to 2 months’’ ..FWIW took on board comments re timescale since the update on this loan.
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averageguy
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Post by averageguy on Jul 7, 2023 17:10:55 GMT
Ok…for what it’s worth spoke with someone at Moorfields….info/update etc should be with us shortly …asked to define shortly …’’up to 2 months’’ ..FWIW took on board comments re timescale since the update on this loan. Diarised to ring Tuesday as that’ll be two months ..wonder what the pathetic excuse will be
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averageguy
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Post by averageguy on Jul 18, 2023 10:34:53 GMT
Ok…for what it’s worth spoke with someone at Moorfields….info/update etc should be with us shortly …asked to define shortly …’’up to 2 months’’ ..FWIW took on board comments re timescale since the update on this loan. Diarised to ring Tuesday as that’ll be two months ..wonder what the pathetic excuse will be Didn’t bother ringing as there was an update on the MT website ….why of course it took them nearly eight months to reach that stage is beyond me..************ joke!
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TitoPuente
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Post by TitoPuente on Aug 3, 2023 10:17:20 GMT
"The Administrators are in the process of reviewing a pre-Administration matter pertinent to the distribution". Any clue on what this "matter" could possibly be?
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Aug 3, 2023 10:39:18 GMT
"The Administrators are in the process of reviewing a pre-Administration matter pertinent to the distribution". Any clue on what this "matter" could possibly be? I recall there was some fiddling ( ie changes) to the Ts and Cs 9 months or so before the Administration, might be something to do with that? It was VERY sneakily done too, it was VERY easy not to notice and "Accept" by clicking a button without really knowing. With hindsight, a portent of what came to pass.
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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 Aug 3, 2023 11:41:59 GMT
"The Administrators are in the process of reviewing a pre-Administration matter pertinent to the distribution". Any clue on what this "matter" could possibly be? I recall there was some fiddling ( ie changes) to the Ts and Cs 9 months or so before the Administration, might be something to do with that? It was VERY sneakily done too, it was VERY easy not to notice and "Accept" by clicking a button without really knowing. With hindsight, a portent of what came to pass. Unlikely T&c changes as they changed in Apr 19, (and with a lot of comms/updates) there was a clarification on fees in Apr 20 after winddown began but that wouldnt have need acceptance as you were already locked in by then All superseded by the Court directions anyway so would be surprised if it relates to any of that. The only pertinent bit in the t&c changes might be the changes in relation to the tranche priorities but that shouldnt affect this as loan predates the change
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averageguy
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Post by averageguy on Aug 3, 2023 18:13:41 GMT
"The Administrators are in the process of reviewing a pre-Administration matter pertinent to the distribution". Any clue on what this "matter" could possibly be? I recall there was some fiddling ( ie changes) to the Ts and Cs 9 months or so before the Administration, might be something to do with that? It was VERY sneakily done too, it was VERY easy not to notice and "Accept" by clicking a button without really knowing. With hindsight, a portent of what came to pass. Took them over 7 months from saying they were working out the distribution to notice this ‘matter’
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ganymede
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Post by ganymede on Aug 4, 2023 8:27:36 GMT
"The Administrators are in the process of reviewing a pre-Administration matter pertinent to the distribution". Any clue on what this "matter" could possibly be? Some might think they haven't taken enough in fees, and found a way to add more.
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r1200gs
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Post by r1200gs on Aug 4, 2023 10:00:50 GMT
"The Administrators are in the process of reviewing a pre-Administration matter pertinent to the distribution". Any clue on what this "matter" could possibly be? Some might think they haven't taken enough in fees, and found a way to add more. As long as these administrators are holding funds, they are looking for ways to keep them to themselves. It's not rocket science, they have been operating like this for a very long time. It's the system. I'm looking at a very significant distribution from another administration, it's as clear as day that they have no intention of releasing my money until every possibility of keeping it is exhausted. Coming up now to three years from when the security was sold, three years!
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