Offer to ex-Rpoints/CBK members

[richard@imutual]

I did, as did a former employee. Apart from that, nobody else went

See my post here and repeated below:

Creditors' meeting is set for 28 Feb and I certainly intend to be there. Would be good to meet as many of you as possible - not ideal circumstances, admittedly, but perhaps I can at least buy the drinks after

I can't see mention of where the meeting is to be held. Hopefully not at their Lutterworth office which is kinda hard for people to get to

Interesting to note the section on approving liquidators fees. Naturally the liquidator should receive fair compensation for their work but I do feel there is a danger that these costs could spiral out of control and eat up funds that could otherwise be distributed to members. As a former director, probably not appropriate for me to get directly involved but some of you may wish to put yourselves forward for the liquidation committee

HMRC didn't turn up either, so if just one member had attended they could (I believe) have dictated the terms upon which the liquidator was paid. Ho hum

Thanks for that Bruce, haven't got my copy of the letter yet.

Only £59k of claims? Sounds like HMRC haven't come forward to claim If that situation continues, theoretically we could see creditors receive 100% of what they're owed Difficult to believe that this would happen though

[vikpaw]

That sucks, i was not able to go, i'd have thought with all the activity on the forums somebody would have turned up.
So there is no liquidator committee...? I don't think it's too late if somebody is able and willing to put themselves forward. It requires at least 3 people, no more than 5. All you'd have to do is keep prodding them and asking for progress and making sure important documents like the one Bruce showed us are shared to all. Unless it was something that was posted, recently, haven't checked my mail for a while.

I would love to see 100% of the claim, but i doubt that will happen. They have free reign to delay as long as they like, knowing full well, it swells the coffers.

There really should be some regulation, to either fix the costs they can charge, nationally, or that certain actions / milestones have to be done by certain times, even if that means some creditors miss out due to not making a deadline. At the moment, they just seem to be able to drag their feet, despite knowing full well that the claims are easily payable.

see what i got back from Susan @ FASIMMS today:

Good Morning

A dividend will be paid within the next two months but at this moment in time we are unable to say how much it will be. As to your original claim as stated in our previous email we have received documentation from Rpoints & Cashback Kings re outstanding creditors and these are the figures we have to use.

Regards,

So they have used whatever figures they were given, which means the ones after they had expired the 'savings' of many members. AND, they are going to spend two months waiting for creditors to re-claim after their amounts are approved... It really does beggar belief.

This is despite the annual report stating an interim distribution will be given within 4 weeks. (I'm guessing the report dates to end Dec 11).

</rant>

[myfyr]

I did, as did a former employee. Apart from that, nobody else went

See my post here and repeated below:

Creditors' meeting is set for 28 Feb and I certainly intend to be there. Would be good to meet as many of you as possible - not ideal circumstances, admittedly, but perhaps I can at least buy the drinks after

I can't see mention of where the meeting is to be held. Hopefully not at their Lutterworth office which is kinda hard for people to get to

Interesting to note the section on approving liquidators fees. Naturally the liquidator should receive fair compensation for their work but I do feel there is a danger that these costs could spiral out of control and eat up funds that could otherwise be distributed to members. As a former director, probably not appropriate for me to get directly involved but some of you may wish to put yourselves forward for the liquidation committee

HMRC didn't turn up either, so if just one member had attended they could (I believe) have dictated the terms upon which the liquidator was paid. Ho hum

Thanks for that Bruce, haven't got my copy of the letter yet.

Only £59k of claims? Sounds like HMRC haven't come forward to claim If that situation continues, theoretically we could see creditors receive 100% of what they're owed Difficult to believe that this would happen though

I think I had a couple of pounds in rpoints, under the same user name as this one. Can't recall the amoimt exactly as it was a long time ago now, happy for it to go to charity anyway.

[vikpaw]

I don't think it will go to charity, it will end up payed to the liquidators in fees. You'd have been better off claiming it and then donating it.
I'm not sure what happens if there is a significant surplus at the end of the procedures, i guess it goes to the taxman, they should have had a claim in anyway!

[JLMG]

Received Creditor's Statement of Claim in the post today from Simms & Partners. Great! What do we do now? Wait a bit longer....

[richard@imutual]

Yes, we need to wait and see what % of your money owed gets paid out. Your claim here could actually be superfluous if the liquidator ends up paying 100% of what was owed to creditors, though I still think this must be unlikely...

[Antony1606]

Should I be worried that I've received nothing

[kevinchess1]

Still ain't salted yet
Not surprsin reely wot with the them chargin £93 an hour to resolve itt

[babs93]

Got my cheque today representing 28% of my claim - maybe a second one to follow after the final report (they state).Never expected anything so was a surprise.

[Denant]

Got my cheque today representing 28% of my claim - maybe a second one to follow after the final report (they state).Never expected anything so was a surprise.

Ditto,again it was a surprise.