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I wouldn't be so sure. That Steinhoff is a South African company listed in South Africa and Germany. It would be bound by South African law and have no effect on an English Court.
I may be totally wrong on this but why would a South African case be referred to in an English Court?
@Rajesh "i dont blame Vinson for leaving this board!!"
I wasn't aware that he had left. He runs a big business. He has a share portfolio. He more than likely just doesn't have the time to post on here every day.
I'm pretty confident he's just a little busy with things that are more important that a message board.
Regards
Idle Guy
I don't have the requisite number of shares but I would prefer Lake Constance/Konstanz to Vegas any day. It is a lovely place. With the Principality of Liechtenstein and the mountains just down the road (I love Malbun), old towns such as Konstanz and Meerburg a short ferry journey across the lake. Definitely better than an over commercialised hell hole like Vegas!
Good luck all :)
@SmlFry That made me chuckle. :)
Just a thought regarding the potential claimants. It is safe to assume that the majority of them are in the lower income brackets and are therefore more than likely 'renters' than 'property owners'. Some of them have had these loans years ago and will have paid them off. If they have had money troubles in the past it is highly likely that a lot of them will have moved multiple times since then and will probably not be aware of the whole scenario.
Some of the former customers that had loans a long time ago may think "I had a loan, I paid it off, I am not entitled to compensation."
There are so many variables. No one knows how many old borrowers will come out of the woodwork, do they?
TDW, you are safe to Google Lake Constance/Konstanz. It is a large lake that forms the border between Germany (Konstanz & Meerburg), Switzerland (Rorschach) and a little bit of Austria (Bregenz).... and is about 30 miles north of Liechtenstein.
I went there for my 50th a couple of years ago.... but was unable to return for my 51st :(
A car ferry runs from Konstanz to Meerburg for a few Euros
Admittedly I didnt explore the Austria bit much. Just a quick drive through Bregenz but I did explore Liechtenstein thoroughly!
Lovely area, loads of mountains in that area of Switzerland/Liechtenstein.
He's heard nothing. He posted the same on Amigo board last August.....
"like watching deckchairs being moved on the Titanic, you might get a better spot.... but she's still sinking."
Hasn't sunk yet.
In response, I shall paraphrase one of his own quotes
"God, [Soubcrew] you spout some rubbish..... I'd rather read less and have the Bull removed."
"When you hear what i hear.... time to come out... sold my 25k of shares, will stay out."
So, if you stay out (and shut up) then the bull will really be removed!
Today is getting better already... and with AMGO shares having risen over 10% already this morning, I don't have the Titanic sinking feeling.
Evening Expru. I still have my CBX. Nice to see the slow but steady every day last week. My current collection consists of being rather over weight on AMGO but also have CARD, CBX, CEY, ESKN, GST, KNB, MXC N4P, OBC, SENX, TLW & TUI. Some are good, some are ok, some should be avoided (but I didn't realise that until after I got them!)
I started my fund and sahre account with HL on May 22nd last year. I made a few quid on AA and Marstons and a few other little 'day trades'. Thinking I was getting the hang of this, on June 8th I sunk a significant wedge of my savings into Amigo (AMGO), Tullow Oil (TLW), Stobart Group (STOB now ESKN) and Intu Properties (formerly INTU).
On the 9th of June my account balance started a long slide.
By the end of June Intu Properties had gone bust. I was "not happy". I was wondering what the hell I had done getting into this stocks and shares lark.
Over the coming months Stobart slid to less than 40% of what I paid for them, as did Tullow Oil. Amigo faired badly from late summer too.
Eventually one of my other less dodgy shares came back into the blue. I sold them for a small profit. I then put that all into Tullow as that looked the most likely to rise to a saleable level. It did. I sold them. I have since averaged Amigo down and am just waiting for them to make a reasonable profit before selling some (not all) of them. Stobart are still a long way off for me. I don't see them coming back in the short term so they can just sit there for now.
CBX I bought £500 via the IPO. I considered doing something similar to you, Gareth, but by the time my shares came through from Primary Bid to my HL account the share price had dropped from 28.00 to 18.00 so I decided to sit and wait. With this one I am still sitting and waiting.
Some shares will come back quickly. This has happened to me with TUI among others. Some, like AMGO, TLW and STOB/ESKN take considerably longer.
Don't worry and stress, like I did. It may take time but I am pretty confident that this will be back in time.
If you can average down and are happy to put more into this share then it may be worth considering. If not, then it will just take a little more patience until you are back on top again.
Best of luck.