RE: Current Customers Scheme or Administration6 Feb 2021 17:53
Hey all
If SOA isn't passed the consumer doesn't lose their right to redress as that's the point of Amigo going for SOA
I personally can't see anyone buying the loan book. who would at that risk ? how much is it really worth with 86% claims upheld by FOC, I see whoever does the administration would run down the book and collect what they can to pay secured creditors. really can't see them fighting hard to collect from those that say "miss-sold." Basically, if they do go into administration it's a f12king mess,
I can't remember exactly how many have had loans but lets say it's 500,000 (I may of read 700k) they need 375,000 to vote yes or they need plan B,C
Full discloser- I sold half at 8.5 after RNS and then the rest at 7.5 at a £7k loss. My plan is to try and get some of that back elsewhere as I can't see much happening here for a few months
I still think Amigo will survive and intend to buy back. I believe in GJ but have no idea what his company will look like
Fingers crossed the SOA is passed and things can finally start to move
GLA