Pinnit2017
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They can't foresee if a company will go into administration - e.g.. the members/creditors can vote on it there and then but they certainly should have performed some due diligence when levying the fine. Strange that its looking like they are now insolvent - question is were they solvent when the agreement/fine was made and when did it turn. External auditors make a living out of assessing whether a company is a going concern:wink:
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Cheers - I knew the figure was a bit high as soon as I typed it! My thought was/is that there was no intention to reach the point whereby redress payments were made but rather just wait it out until insolvency. FCA has a few questions to answer here as well.
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CFO lending refusing to honour agreement
Pinnit2017 replied to Anonbrumbie's topic in Capital Finance One/ Mtcollect
Yep - when i contacted them they said they had until the 31st March 17 to let people know - 6 days later they file..... - how utterly odd. The optics of that are that they waited, waited and then went down the admin/insolvency route. Unlikely the monies were ever there to redress. -
I'm just curious as to why the 34 million redress package was even agreed with the FCA, in the absence of any reasonableness that they'd be able to honour it.
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Got it as well - into administration at virtually the start of the new tax year: all that talk about redress and now there's nay money in the pot! Bye bye 125.50
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Vivus Uk - Gone?
Pinnit2017 replied to Pinnit2017's topic in PayDay loans and Short Term loans - General
Hi, Incase of any interest, it looks like Vivus aren't accepting anymore loans. They were underwritten/owned by 4 Finance but V7 took over I think a few years ago. -
Know it may be in the wrong place but it appears that Vivus aren't offering any loans anymore - another one gone?
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