Member Info for viking818

Mark@1973 ... Hi Mark, question if i may please? We have been exchanging views on here for a year, i value your opinion, so, based on that, may i ask please given the information that is in the public domain either vis Amigo or the Court hearing / Judges ruling, what kind of percentage would you give Amigo to still be in business let's say at the end of September ?

Jimmy .... So basically, you feel that all those who have borrowed from Amigo should get compensation and it is the shareholders who should pay ? Is that correct?

Jimmy ..... Try reading instead of trying to hurl insults !!!! I will edit 12d for to help you ! It reads " including past or CURRENT customers " ! Current meaning those with outstanding loans ! They get nowt as well BUT, still have to pay their loan or if they default, it will adversely affect their credit rating as well you know !
It is a good job that there is a low probability of Amigo customers reading this board for your advice, what worries me, is where else you post it that they may read ! Because it is misleading to put it mildly !

Jimmy and 12d (unsecured creditors after 'set off' has been applied - including past or current customers who were owed compensation for a Redress Claim - would, based on our calculations, receive nothing due to the lack of available money after paying, for example, secured creditors ) clearly states that there would be no money left to offset against any monies owed !
So again i ask, please explain how they will be better off if Amigo goes out of business ?

Seamus ..... The rig is fine mate thanks, just too many nights driving it ! It is still burning about 750 - 1000 litres of diesel a week, chugging along ! ;-) ... Loan book, would they write off some of it / any of it? Yeah, maybe for those who are missing payments / unable to pay they might BUT, for those who are trying to re-build / build a better credit score, that would be no good for them, as their debt would then be marked as partially settled not fully settled ! That would have implications on their future borrowing abilities and rates surely?

Stevielad66 ... I sort of agree BUT, where i don't is, i have no problem with people spouting negative comments as long as they are accurate. What he/she has spouted is incorrect and therefore should be corrected. Personally i would like to filter them by lining them up in the cross hairs and squeezing, but that would not be legal ! ;-)

Jimmyg56 ......... Can you please explain to me your comment please " These customers (with a current balance and a valid claim) would be better off with an immediate insolvency. " ? Are you aware that if Amigo goes bankrupt, those with valid claims will not get a penny and those who have outstanding loans ( current balance as you call it ) will still have to pay back their debt ! So how are they better off ???? Surely the best solution for all is a compromise and an SOA or similar to pass and Amigo to start trading again !!!!!

cabert ... can you please verify which of Amigo's BoD have worked directly for the FCA ? It is just, in your post timed 16.49, you state several of the Board have worked for the FCA including Gary Jennison !
As far as i am aware, only one of the BoD is an ex FCA employee and that is not Gary Jennison. You were incorrect on your statement about JB and his selling down last summer, he had to sell everything to achieve what he aimed for as the majority of his shares ( the ones he sold ) were non voting shares and i believe you are incorrect about several of the BoD being ex FCA employees!
Off to work peeps. Stay safe. Viking

Mark ... Only if they load it poorly, and then if i am in a good mood, otherwise it goes back. All of it ! Not looking forward to this weekend though, they all going to be going the same way as me this time !!! This last weekend I saw 17 accidents Fri, Sat, Sun and Monday, all involving cars / motorhomes/caravans BUT not a single truck !!!

timmy .... steady on a bit mate ! I nearly agreed with everything you said there !!! ;-)

Mark ... It is quite steady. Spread buys topped at 8.7, sells at 8.895. Trading been quiet last hour ish, there are circa 800,000 buys sitting at 8.35/8.4 and a little less on sell side at 8.895/8.99. I have put 10 back in. Slept through the rise this morning, so missed it !!! LOL ... Never mind.

Someone is playing Barbara Streisand then !

Mark ... That is what my post at circa 15.37 ish was about. JPM are who i have been thinking baout and that is what i have been wondering, if there is / was some sort of deal in the pipeline. Lets face it, we will need new credit facilities if this takes off !

Mouse ... He did say that ! However, as for those i am thinking about, they could buy it out of administration for peanuts or finance it as it stands, so their bets have been hedged, it is the PI's who stand to lose if the FCA dig their heals in to try to prove a point of how powerful they are ! As you can tell, any faith i had in the FCA has been completely lost ! Absolute jokes !

Mouse ... as i said before, i do not believe the FCA has a clue about the average person in the UK who is on low income. They cannot see that what they are trying to do is only going to make things worse for those they proport to care for ! As for humpy woman, she is off with the fairies ! Off out, take care.

Or someone wanting to move into the UK financial market in a larger, different way ? Lets face it, to the average bloke / woman ( Mouse ;-) , never forgot you ) the securitisation of 100 odd million is a huge amount, the total borrowing i daydream money BUT, to some of these major companies, a few hundred million is peanuts. Yes, they do not want to lose it but if it comes to a re-finance deal if Amigo is to carry on, then that may be a very viable option given there is already a client base in the 100s of thousands to millions !

Mark ... as the major creditors, they would have to speak to the RBC surely. The RBC will be watching this for certain and if Amigo have not contacted them, i would expect them to have contacted Amigo to ask why ! This is the same on a far larger scale to what all the advice that is given out to people in debt, talk to your creditors. Amigo will be very naive, if they have not done so OR, then yes, they just feel there is no point OR, as have been a thought of mine for a long time, that there is someone else in the wings preparing to finance Amigo going forward in the long term ?

Hi Mark & Mouse ... My interpretation on what i read before i went to bed ( RNS ) and having slept on it is that, Amigo having conducted talks with the RBC have ascertained that the RBC would be prepared to extend the waiver, but before agreeing to this, they ( RBC ) want some assurance that the FCA will not object again on any future proposal. If there was no possibility of an extension, i think the RNS would have had to be worded very differently. The same in reverse would also be if the FCA are not going to agree with any future proposal, then the waiver will stand until June 25th and that date will be the trigger for Amigo seeking to go into administration when the debt is called in when the trigger targets are missed as the waiver has expired. I do not think the RNS tells us very much more than that, apart from making it pretty much known, there are options here which Amigo are trying to explore BUT, if the FCA will not agree, there is no point ! I think we all agree there is a massive void in the lending sector that the big 4 banks are not interested in, it is just whether the FCA give a damn about those people ( because to me, it sure as hell looks as if the people at the top of the FCA do not have a clue about how millions of people in this country live or finance themselves ) ! So FCA, it is over to you, do you want Amigo to survive or not ?

Mouse .......... I am off to work, so you will not get a reply very quickly. I woke up. I sold my holding after having it for a year. I never expected / gambled the court would turn down the SOA. I want to come back in but need a bit more certainty now, i cannot afford to just chuck 10s of thousands away, that is why i pulled my money out. Better to make a smaller profit than a huge loss. However, if this goes on at a stable price for a bit longer, i will consider putting some back in as a smaller gamble. What i really want to see is an RNS update on Bybrooks and JPMs holdings.

Hopsta ......... At least you got a reply, that is more than i did and i suspect, more than most of us got who emailed Kate !