Member Info for LTHcine

Should be resolved at second court date May 10th if all goes according to schedule.

The moderators obviously think JubberJimmy is a good poster because they have moved most of his posting history to a more secure place for safe keeping.

I think its a little unfair to think of it like Amigo trying to short change customers with complaints. Or get out of paying redress, its more like just trying to sort out this mess they been left with in a way that the complainants wont be left with nothing!

"McFadden warned that other high-cost lenders may take advantage of the FCA’s lack of action. “If Amigo manages to avoid redress payments through this mechanism, there’s a risk it will set a precedent for other companies in a similar position,” McFadden said. “And of course people will be appalled if ordinary borrowers are short-changed, while those at the top of the company receive large payments.”

https://uk.finance.yahoo.com/news/fca-under-pressure-explain-green-170047960.html?soc_src=community&soc_trk=tw

"The City watchdog is under pressure from cross-party MPs to explain why it is allowing the sub-prime lender Amigo to push ahead with a rescue plan that will cap compensation payments for nearly 1 million customers, while giving executives the chance to earn £7m in long-term bonuses."

Not sure why £7m LONG TERM incentives which would payout for 3-4 years, between a whole board of directors would be an issue. Surely you cant expect people to work for free? If they get the payout it means that Amigo board has stopped an insolvency which would have left customers with sod all.

"Will you be able to restart lending while the Scheme is ongoing?

Yes. The approval of the Scheme will effectively ring fence the complaints situation, creating certainty around the complaints liability and enable us, concurrently, to restart lending. However, before lending is restarted, the FCA will need to have completed their review of, and approved, our proposed approach to future lending. Our plan is to restart lending as soon as possible in 2021."

Tuesday could be the first step in the right direction, so either few p up or down ;)

Thanks NOFEAR, hopefully some of that money finds its way into Cineworld shares. Good to see the MoOky interviews on American TV where they actually mention Cineworld as being Regals parent company. American money should start flowing in :P then we can all say "wait until 2:30pm when the Yanks wake up"

We had a whip round while you were gone and managed to stretch to some Happy Shopper Bourbons. If you can resist, wait until Monday to enjoy those ;)

Ok cheftrader now we are all on same level can we just appreciate that tensions are high, people might be on edge. This companies future hangs in the balance. Luckily we have Gary on board and a brilliant board of directors who seem to be doing everything possible to ensure complaints get dealt with in a fair and equitable manner. Lets just hope the courts see it for what it is. Nobody wants people to end up with nothing, but there is litterally no other alternative to the scheme other than insolvency. If adjustments have to be made to the scheme small adjustments can be made on Tuesday, for bigger adjustments a new court date will have to be set and go through the waiting game again. In that circumstance the tensions here might rise and volatility along with it, but aslong as we all stick together things should work themselves out.

Sorry expru you are correct this time, my Tsk Tsk was to this Seamus.. not Shamus12 who plagued the Cine BB causing us so much stress over there

ill leave your mate alone now. :(

39:34... wow that guy even knew how DIM he was being.. saying in an insolvency you dont NEED money left for existing customers you just simply reduce the debt? as if you can just delete debt? :L if only it was that simple

glad Gary corrected them on the mid cost lender not high cost lender :)

cheftrader if you promise to stop being rude, here is https://www.bbc.co.uk/sounds/play/m000tmb4 @35 minutes in Gary explains who the ceditors are. RBC being the bank first in line with securitised debts, then bondholders (senior secured notes). I take it thats what you wanted the answer to?

Can we all just get along?

And Seamus Tsk Tsk ;)

why they calling us a high cost lender?

Maylands - Amigo has a slightly more interesting week ahead, cheers for the cross ramp, appreciated as always :/

There was an account with 0 follows and 1 follower on amigo loans twitter yesterday, arguing that its wrong that someone will be owed £5000 but recieve £250. Then went on to say it wasnt a case she personally knew about it was an example from debt camel. That debt camel is misleading people because there is no way they can work out what they will recieve yet. Just seems like antagonists writing misleading info using figures that are plucked up out of thin air.

Kuurj you have explained that pretty well, only thing id really add is that ALOT, if not all of the people with a serious grievance with the way they have been treated in the past will have been paid out in full before the scheme even gets voted on, so im guessing they wont even get a vote if they have had their cases dealt with? Which leaves the ambulance chasing CMC and Debt Camel reader types and almost a million Previously HAPPY ex customers to vote against a few thousand people with a grudge or without a brain cell or maybe not even a legit claim between them? :P

If they had of just gave us a grand when Cineworld was 20p we could have turned that into 5k by now :P

shall we just scoff them all before anyone else answers? Om nom nom

I think they funnelled so much cash into failed track & trace (their back pockets) that there is no more money left on the magic money tree :( It only seems to appear when it benefits them or their mates. A huge abuse of power has took place during this pandemic, when it comes to all the money spent. Its been actually awful if you start following the money.

Y'know what really grinds my gears? Companies getting PPE contracts that had no prior experience.. PPE not showing up? So wheres the Money? £38bn on Track and trace? Thats like 19 Mars rover missions and we got what to show for it? The Bank of England has put almost a Trillion pound into the stock market at the lows of this pandemic.. how much have they stolen? It almost felt like they were saying one thing and backtracking just to punish the market (probably trying to get cheaper shares?)

how do we end up with every single annoying Jim on this board?

Ofc Antman :) any other takers? Only 4 left...
Also can someone ask Rishi Sunak if Seat Out to Help out is actually going to be a real thing? I just saw this, basically saying that Eat out to Help out is not on the cards.. But will we get what we were promised last year?

https://www.birminghammail.co.uk/news/midlands-news/rishi-sunak-sheds-light-whether-20261296