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95% of them voted to accept a worse offer last time.
Talking of risks in Amigo today.....
The outcome of my investment in this share is going to be decided by a few thousand people who can't get credit from their bank and took out a loan they couldn't afford to pay back.
I'm allowing them to decide if I make some money or lose the lot.
I must be mad
The Web address for direct claims in in the ICC video.
So any new claimants should go direct then and avoid cmc's high fees.
Claimants are encouraged to go direct through the scheme.
lippy,
they cant claim directly if they signed contract with CMC first
Can people claim through amigo directly?
Totally agree with that 30% is a joke
The claimants will probably realise Amigos "unreasonable" charges weren't that bad when the the CMC they used walk off with 30% if their claim
The worth of your claim. (Interest + 8%).
Bear in mind with a loan depending on term and amount, your interest could be more or less than the original amount you borrowed.
Ha, so they proposing to refund 42% of what?
Thats got you thinking
No that isn't right.
Is that right, they are proposing to refund 42% of the total value of the loan? Not just the interest or something like that?
So....I get the feeling that most think it isn't even a 50/50 of failure.
In that case if I put a tenner on evens I get £20 back if it wins, With amigo it could give me x3, x5, x10.
If I was I betting man, this would be brilliant odds.
Even odds bet but possibly giving you 20/1 in time.
GLA
I think the CMC's will encourage their clients to go for the longer term 42% as well......purely in the interests of their clients, of course
£5000 loan.....42%=£2100 payment/29%=£1450 payment
I know what I'd want 42%
I think they will go for the 42% as most will want the loans repaid from it.
No they won't vanish into thin air, I know that, but no value.
What is the value in Amigo holdings going forward if AMIGO loans does wind down? Dies anyone know?
Claimants aren't choosing a scheme they can vote for them both or against them both or one/other.
Both will be options, both will be voted over 90% I expect. Claimants should be over the moon the committee has done an amazing job for them.
Just remember Nisa if they wind down the business of Amigo Loans Ltd our shares don't just vanirsh into thin air.
I agree Rajesh.
Also many Amigo claimants are not typically people who are in a good position financially. Some may choose to cut and run with the 29% rather than waiting any longer......what do they care about the future of AMIGO?
Although if they're claiming through a CMC, the CMC's would if course prefer the 42%......a lot of unknown s at the claimants vote, which is why I consider that to be the riskiest time
If the vote goes against us, yes. There is no business going forward, just a 29% payout to the claimants followed by a managed wind down
The last creditor vote was 95% in favour of the SOA. The preferred option on the new SOA is considerably more money back to redress claimants than the first SOA. Therefore, you would assume that the majority would vote in favour. However, we also have to consider that Amigo have made much more effort in engaging all customers past and present so there will be a number of customers that would potentially vote that didnt vote the first time around. That to me is the unknown element.
One would think that it shouldn't swing the vote significantly
Plus shares are held in Amigo Holding Plc not Amigo Loans Ltd.
With you saying we would be dead if the vote went against us, is that strictly true? As last time the vote favoured us and the decision still went against us.
So it isn't legally binding is it?