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Sorry for delay guys...you need to contact FRP advisory with your information and they will add you to the mailing list. The report was sent by them last week - details are below in the thread for the guys dealing with it at FRP. The report came out from an automated mailer.
@chapsville86 can you let me know where you got the report from please. Did FRP send to you?
Where did you get this from? FRP? Or is it available to anyone?
Who at FRP gave you that information? Or how did you get it?
Got an update from FRP this morning, but it's looking unlikely that shareholders will get anything back....reading between the lines. All unsecured creditors are expected to be paid in full, but it makes no real explicit reference to shareholders.
We hear that the administration in Koovs has been extended. I suggest shareholders contact the below for the the reasons why.
-Geoff.Rowley@frpadvisory.com
-Finella.Fogarty@rpc.co.uk
The problem is that the system we have has always been set up to allow the rich and powerful to legally rob the poor..its like Robin Hood in reverse.
If your poor and you steal..you go to prison..if your rich and well connected and you steal..you get richer.
IMO nobody will get a penny back of their hard earned money that was stolen by this 'esteemed peer of the realm' Waheed Ali. I lost a fair bit but I know many lost very large amounts and I genuinely feel sorry for all those who suffered big losses and had their futures ruined by this man and sorry to be negative but maybe its best for us all to move on now and hope that karma deals with him.
it would be good if others can share information / updates , This was scam of the highest order and lot of people lost out in big way, Ali needs investigating and i hope one day some small share holders can get justice . Not much hope with FSA from what i hear ?
Can anyone give me details of who I’m best to contact? Would really appreciate it.
I’ve not been on here much but have lost a decent amount of money.
Positiveenergy did you get any feedback from sparkyspark?
Dont like to give my name and email address to someone i dont know.
Could potentially be a scammer. No insult intended to sparkyspark but cant blame me for being cautious, esp after how we were treated by the right honourable Lord Waheed Ali.
Yes please.
Please could any shareholders of Koovs contact me with your name and approx shareholding at the time of administration. I'm working on putting comprehensive action together to recover money for minority shareholders.
Sparksdiscos@gmail.com
Please could any shareholders of Koovs contact me with your name and approx shareholding at the time of administration. I'm working on putting comprehensive action together to recover money for minority shareholders.
Sparksdiscos@gmail.com
Any news here
I have emailed them as well.
Have you asked them directly English?
May I enquire if we are getting an update any time soon?
Thank you Forsure and all who continue to fight for justice here...
I have just submitted my details to FRP and hope to see a response soon. I had a decent chunk in Koovs and it would be a delightful result to see some compensatory damages returned to loyal shareholders, who truly believe the lies that emanated from Koovs and Waheed Alli.
Really good work guys, thank you for your efforts. I hope they make an example of that weasel and show the UK markets are not there to be stolen from.
....at least not by other countries
Hi, yes that is where it is currently at, i attended both meetings one with administrator and then one with the legal firm appointed
They are also doing a forensic search of the accounts leafding up to administration
I and many other investors believe the share should have been suspended around 3 months before Dec as the financial problems were being hidden a long time before the market update!!
I also believe money has been embezzled into an Indian company all along , they have set up many companies in India without telling shareholders!!!
As i said previously, ALL SHAREHOLDERS NEED TO CONTACT THE ADMINISTRATION TEAM
Thankfully the whole management team will be looking for jobs soon as Koovs will not survive the Corona outbreak in Indin, FLFL are on rocky ground and could also fold !! He who laughs last and all that!!
Thanks for the update. Can but hope.
Received this reply today, thought i would post it incase there is anything that others don't know.
Thank you for your email.
I can confirm that Geoff Rowley and Jason Baker were appointed as Joint Administrators of Koovs Plc on 10 December 2019.
I would advise that we have instructed solicitors for the purposes of investigating the events prior to the Administration and whether any claims exist against any parties for their conduct prior to the Administration. At this stage it is too early to advise as to whether there are causes of action and what any recoveries might me. Noting that you have invested your life savings, if you were in receipt of any financial advice it may be worth enquiring of the financial ombudsman as to whether you have ability to claim in relation to the advice you have received.
Additionally, as part of the Administrators' statutory duties, a directors' conduct report has been submitted and this report is with the Insolvency Service to consider whether any further action is required.
I would also advise that we are making enquiries with our solicitors into the failure for FLFL to deliver the final tranche of funding, and whether any claims exist against FLFL in this regard.
We will provide a further update to creditors and shareholders at the 6 month anniversary of the Administrators appointment.
Kind regards
Rebecca
For and on behalf of Koovs Plc
For Geoff Rowley
Joint Administrator