@00765 what was the outcome? I have received a similar letter from Europcar with regards to a vehicle we recently had as a courtesy car while our car was being repaired

Hi, This is an update to my original post. I was wondering if anyone could help advise me. I am not sure what to do. I invested £5k in may 2015. Since Trustbuddy went bankrupt I have only received one payment from the administrators of £737.94 in November 2016. I think this is what the administrators are calling 'payout 1'. Now I have received the following email from the administrators: "Your personal profile: Total balance SEK 11191,17287 Outstanding loan SEK 64900,08333 Estimate amount payout 1 6801,09 Procentual part of balance 0,017522 % Procentual part of outstanding loan 0,0245025832 % FIRST A SHORT EXPLANATION OF THE FOLLOWING: Total balance SEK = This was money that should have been on account on bankruptcy day. Since Trustbuddy ran out of subordination "borrowed money in its own name", this money was not on account. Lindahl therefore calculated that everyone had their percentage share of the money in the account. Outstanding Loan SEK = This is what the lender had in outstanding loans on bankruptcy day, which formed the basis for your percentage share of the total loan portfolio Estimate payout 1 = This is your share of the money that was on account on the bankruptcy day, which Lindal (bankruptcy manager) has calculated. Procentual part of balance = This is your percentage share of the money that was on account on the bankruptcy day, which Lindal (bankruptcy manager) has calculated. Procentual part of outstanding loan = This is the lender's percentage share of all loans through Trustbuddy. This is the basis for all future payments. WHAT IS IMPORTANT You will receive your share of everything that Alektum manages to import through its debt collection business in all countries. If Alektum manages to enter MSEK 8 during 6 months. Your payment will be SEK 8 * your percentage of outstanding loans. Payment will take place when the total amount of all payments exceeds SEK 5000 OFFER TO PURCHASE OF LOAN PORTFOLIO TO ALL LENDERS We now want to offer all lenders the opportunity to sell their loans. This is a voluntary offer that includes a one-time payment. The offer is based on calculations from Allektum which show that it will take approximately 3 years to obtain a corresponding payment. The offer: Payout payment 1 + 10% of outstanding loans. (Outstanding loan SEK). If you have received payout 1, you will receive 10% of outstanding. If you have received payout 2, we deduct this so that payment will be payout 1 + 10% of outstanding loan. Deadline for acceptance of the offer is Friday 1 July 2017. Payment will then take place in August 2017. Click on the profile form to authorize and accept the offer. YES, I hereby authorize the steering committee and wish for such payment. Enter all necessary information in the profile form. Click here to accept the offer" Firstly, there are a few things I don't understand: 1) I can't get the numbers to add up: 'Total Balance' 1119117287 SEK x 'Procentual part of balance' 0.017522% = 196091.73 SEK. Why is this number different to 'Estimate amount payout 1' 6801.09 ? 2) 'Estimate amount payout 1' seems less than I actually received. 6801.09 SEK is roughly £593 in exchange rates at the time of payment 3) How much will I get back if I accept the offer? 4) How much do people think I am likely to get back if I don't accept the offer? Do you think I should accept the offer or not? I was wondering if anyone else was a lender on the bankrupt Trustbuddy platform and what they plan to do. I would be grateful for any advice. Thanks in advance.

Thanks for the helpful comments. I have decided to grant power of attorney to the Norway debt collection group.

http://www.crowdfundinsider.com/2016/01/80598-trustbuddy-bankruptcy-lenders-to-pay-25-on-recovered-claims/ I am a lender with TB. My money is invested in Finland. I have received several letters from the Swedish administrators. The latest appears to offer an agreement to buy the loans from a debt collection agency. I can't understand most of what they are saying because some of the docs are in Norwegian. I have tried writing to the administrators, but have not received any response to date. Anyone else in a similar position? Not sure what my options are....

My mistake. Thx for pointing that out. Our case seems the same as this successful appeal (which you helped with): http://www.consumeractiongroup.co.uk/forum/showthread.php?335480-Car-towed-from-unclear-suspended-bay-with-sign-not-visible&highlight=suspended+bay+towed Are there reasons we don't have a valid case on the same grounds?

Thanks a lot for your advice. Some clarifications: According to http://www.legislation.gov.uk/uksi/1992/1215/schedule/made Doesn't this mean that they should have put a sign in the direction my GF walked away too? i.e. away from the sign which was several car lengths away. Yes, it does. This forum appears to shrink pics. I put the full size pics on Google Drive (see links in my original post). I presume it doesn't make any difference, but as you can see there is actually two signs: On one sign the suspension runs from 20th May to 16th June, but on the other it runs from 27th May to 16th June. Anyway as my GF was parked there on 7th June, I presume that does not help us? I was reading http://www.ticketfighter.co.uk/parking.htm#suspended To be honest, we are struggling to understand these rules. Does anyone know if this sign meets the rules or not? https://drive.google.com/file/d/0B0Vqw_YSKNY5UzdXQklpREptWXhkV0p5NldTclVCZFV2cDR3/edit?usp=sharing We did pay £265 and got the car back on the following day (Sunday 8th June). I'm here to try to get the appeal right. Thanks for your help.

Hi TGLS, Congratulations on your victory. I was wondering if you would mind taking a quick look at my post as we are fighting what looks like a very similar case: http://www.consumeractiongroup.co.uk/forum/showthread.php?426853-Car-Towed-Suspended-Bay-Sign-Unclear&p=4555626#post4555626 Any advice would be greatly appreciated. e.g. would you mind sharing your appeal letter? Thx.

I can't remember for sure. I will have to go back to see, but in the meantime, on streetview, it looks like one single bay i.e. there is just a single dashed line around several parking spaces and no dashed lines separating individual spaces. See here: http://www.instantstreetview.com/2o9dquz3et6t4z41bznvz2u. You can see no.s 97 and 99 here. Don't we have grounds for appeal on any of the other points I raised? e.g. no sign in the direction she left the car on foot? I have read in other posts that they are meant to put a sign on both sides of the suspended bay, so that it is not missed.

I am writing on behalf of my girlfriend who got her car towed last saturday morning 7th June 2014. They told us it was parked in a suspended bay, but after reading several posts on this forum, it seems we may have valid reasons to appeal. We would be very grateful for anyone more knowledgeable about the law on this to advise us on our appeal before we submit it. She thought her car had been stolen and it caused a great deal of distress. Plus it was a huge inconvenience to us as we were due to go away for the weekend in the car. The car was parked on St. John's Hill in Wandsworth, London. They told us that the car had been towed because it was parked in a suspended bay. Later in the day I went back with her to where she was parked and took some pictures. I also include a scan of the PCN that was given to us when we went to collect the car. https://drive.google.com/file/d/0B0Vqw_YSKNY5RkJGMFBQQjE0Z0J1cGRjejhwd2R6dmpKTEV3/edit?usp=sharing https://drive.google.com/file/d/0B0Vqw_YSKNY5T3pXSVBjeVpYX0VuUFhaTHNrWGRjU0h1dEtj/edit?usp=sharing https://drive.google.com/file/d/0B0Vqw_YSKNY5UzdXQklpREptWXhkV0p5NldTclVCZFV2cDR3/edit?usp=sharing https://drive.google.com/file/d/0B0Vqw_YSKNY5Z3lrckNlQzZfSzZJai1fTVN1aDdmVUc4VFBB/edit?usp=sharing https://drive.google.com/file/d/0B0Vqw_YSKNY5X3NLemNOYjM4RTQ/edit?usp=sharing You can see that the suspended bay sign was several car lengths away from bay where my girlfriend was parked i.e. the empty bay in the pictures. This is pretty much how it looked when my girlfriend arrived to park. i.e. all the other bays that are closer to the sign had cars parked in them. My GF parked and left her car, walking in the opposite direction to the sign. There was no other sign on the other side of the suspended bay. She never noticed the sign in the photo, further down the road, so she had no idea the bay she parked in was suspended. I am wondering if we can appeal on grounds of any or all of the following: 1) It was not at all clear that the bay was suspended. The only sign was several car lengths away. No other sign on the other side of the bay. 2) Is the sign valid? I have read in other posts that sometimes the sign itself does not follow 'the rules'. 3) The sign says that the bay outside no. 97 is suspended. The pavement is quite wide and it is not clear which bay this refers to. Especially because the only sign was so far away from no. 97. 4) When we went to pick up the car at the pound in Mitcham, we were told that we had to pay £265 or they would not release the car back to us, even though I told them we wanted to appeal. I have since read in other posts that the this is not the law. Apparently, they cannot force us to pay to release the car if we choose to appeal. Is this true? 5) My GF was away from her car for approximately 1.5 hours. when she got back it was gone and no indication where or why. Can they tow it without any warning? 6) We notice the address of the suspended bay is different on the PCN to the sign. The sign says "no. 97". The PCN says "no.s 97/99". Do we have grounds to appeal? Should we use any or all of the above in our appeal? Is there anything else we should put in our appeal? We would be very grateful for advice on this. Thanks in advance.

Recieved a letter confirming they are dropping the case. It doesn't go into any more detail as to why though. See attached scan. Thanks everyone for all your help with this.

True. There is nothing on the web site. I will let you know if I get anything in writing. However, I did only challenge on the grounds of incorrect contravention (see above):

I have not heard anything from Southward since I submitted my challenge on 18th Feb. I just checked the status of the PCN on the southwark website and it says 'case closed'. I am presuming this means they have dropped it?! If so, I think I've been lucky, but there again Southwark were careless. Many thanks to everyone for your advice. This is a great forum and I've certainly learned a lot from you.

Thanks SarEl. A good point. I am considering the risk of not being able to find another job. The truth is I have been considering leaving for quite a long time.

My company is embarking on a programme of redundancy in the UK. With the aim of cost cutting by off-shoring roles. We are currently coming to the end of the collective consultation phase and expect that individuals will be put at risk very soon. The company have said that they may put some people on an 'extended' at risk period. They have not stated clearly how long this could be, but they guess up to about 6 months and it will be agreed between the individual and the manager. I think the idea is that they want some individuals to stay to complete important work / handover etc. I think they want to do this in a big group now rather than delay it so they can show the shareholders what they are doing to protect profits after dissapointing results are announced at the coming year end. Obviously, we don't expect the people on extended risk to put a great deal into the job and as the cuts are deep (approx 70%) this is going to be very difficult for the people left behind, who's morale is already at rock bottom. Can they really put people on extended risk of redundancy? e.g. isn't it arguable that the role is not actually redundant? The company says it does not have any official voluntary redundancy programme, but say they would 'consider' volunteers. I'm conserned that this is an empty gesture and just a way to get us to 'show our hand'.Any advice for the people that are left behind who are expected to pick up the pieces? Because the cuts are so deep, we expect the job to be impossible and so will want to leave. Is there any other option apart from resigning empty handed? Thanks.

My company is embarking on a program of redundancies as a cost saving measure. We are currently coming to the end of 'collective consultation'. We asked the question "Is there a voluntary redundancy programme?" the answer was that there is no official program, but you can put yourself forward and the company would consider it. The cuts are drastic (about 70%). Some people would prefer to be made redundant. I am considering putting myself forward but I am not really sure what the risks are? Where does that leave me afterwards, if I am declined? i.e. once I 'show my cards' as it were? Collective consultation ends quite soon and then I guess we will find out who has been 'put at risk'. If I am NOT selected, perhaps that would be the best time to put myself forward? Or is there any downsides of leaving it until after collective consultation? Would be grateful of any advice esp. if there are risks I am overlooking. I have been through redundancy programs (and survived) several times before, but I have never wanted to leave before. Thanks.