SPML/LMC anyone claimed for mis selling and unfair charges?

[actionnotwords]

Hi - is SPPL defunct or not? - appears on companies house as active with note "proposal to strike off" and the note to shareholders dtd Dec 2009

Southern Pacific Sec: Notice to Noteholders | Company Announcements | Investegate

 

informs that insolvency is imminent and the notes transferring to the Issuer with permission from Trustee - errrrr the Issuer?? capstone??

 

I will profer an answer in my time to your "frivolous" enquiry ,which had you actually taken the time to read the majority of posts since January you would not have needed to ask.

1)No sppl is not defunct it is active until it is struck off by companies house which will be after the third time such fact is advertised in the London Gazette providing no one such as a creditor objects to its strike off.

2)The notice to noteholders is from the special purpose vehicle to whom sppl sold all the equitable titles retaining the legal titles and the right to enforce security of its loan pool ie.in English,repossession.This is known as securitisation.There is a clause in the originators contract of sale that allows for the transfer of the legal title to the equitable titleholder should the originator become insolvent and therefore lose the right to sue.

The spv is not Capstone who is the Administator on behalf of the spv of the loan pool originated by sppl.

This has been posted on numerous occasions in the past ad infinitum.

In the words of the immortal bad person "how do you like them apples":-D It's probably because of people like you he appears to have thrown in the towel.He has my complete sympathy and support.

By the way as you appear to take a passing interest in the status of sppl have you in fact registered the recommended complaint about their continued activity with Companies House?

Edited March 24, 2010 by actionnotwords

[brassed-off-2]

Just stumbled upon these articles published in the mortgage strategy publication from march 2002, might be of interest to some of you vets on here!!

 

Securitisation vehicles escape regulation | News | Mortgage Strategy

 

Clarification on securitisation issues welcomed | News | Mortgage Strategy

[iconoclash]

WOW ! me - no - I never do anything real - I just sit here typing **** all day and offending people but of course in reality I have been a member of CAG for a long time and have stuck my neck out when necessary appearing on Channel 4 (for those that know) and aiding many real people by typing up their SAR letters, even paying the fees if they dont have it, producing the particulars for court bundles, defence particulars for judgement set-asides for troubled friends, useful contributions re Carmel Butler, I have nine cases on my desk right now and that is not including my own despite having a suspended reposession order on my house that I should be dealing with and still waiting for the DWP to pay us anything at all after being made redundant in October 2009 - thanks.

[brassed-off-2]

WOW ! me - no - I never do anything real - I just sit here typing **** all day and offending people but of course in reality I have been a member of CAG for a long time and have stuck my neck out when necessary appearing on Channel 4 (for those that know) and aiding many real people by typing up their SAR letters, even paying the fees if they dont have it, producing the particulars for court bundles, defence particulars for judgement set-asides for troubled friends, useful contributions re Carmel Butler, I have nine cases on my desk right now and that is not including my own despite having a suspended reposession order on my house that I should be dealing with and still waiting for the DWP to pay us anything at all after being made redundant in October 2009 - thanks.

 

 

Take it easy Tiger!!!!!

 

And im sure all those people appreciate your imput too...i know i do.

[TFD123]

Take it easy Tiger!!!!!

 

And im sure all those people appreciate your imput too...i know i do.

 

Here Here !!! remember who we are fighting!!!

[actionnotwords]

Just stumbled upon these articles published in the mortgage strategy publication from march 2002, might be of interest to some of you vets on here!!

 

Securitisation vehicles escape regulation | News | Mortgage Strategy

 

Clarification on securitisation issues welcomed | News | Mortgage Strategy

 

Brassed off I am of the belief that this never became law and seems to pertain to securitisation when the legal title is held by the originator.In the case of sppl in particular a wholly new situation would arise as the legal title would pass to the spv who would then leave no doubt that they would be fixing policy setting charges etc.They would in fact be standing in the originator's shoes,so I would believe where appropriate the spv would in this case need to acquire regulation by licence or whatever other means otherwise such loan agreement would be unenforceable.

I must offer my apologies for my previous uncharacteristic outburst ,I had hoped to share an experience which both my colleague and I found amusing on reflection,despite the circumstances,obviously not all have the same sense of humour, I believed it might actually lift the sombre mood. I react impulsively and with hostility to ageism which I find disrespectful and also to unqualified sarcastic personal references to walking aids which I am fortunate enough not to need.Age comes to us all but brings with it both experience and wisdom and my testament to this are my previous serious posts and grasp of this complex subject.

This site is showing ever increasing desperation for the return of the driving force that was behind it that was the bad person.

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

stirring words taken from henry V by the good

enoughisenough

More of the same.

Once more unto the breach, dear friends, once more;

Or close the wall up with our English dead.

In peace there's nothing so becomes a man

As modest stillness and humility:

But when the blast of war blows in our ears,

Then imitate the action of the tiger;

Stiffen the sinews, summon up the blood,

Disguise fair nature with hard-favour'd rage;

Then lend the eye a terrible aspect;

Let pry through the portage of the head

Like the brass cannon; let the brow o'erwhelm it

As fearfully as doth a galled rock

O'erhang and jutty his confounded base,

Swill'd with the wild and wasteful ocean.

Now set the teeth and stretch the nostril wide,

Hold hard the breath and bend up every spirit

To his full height. On, on, you noblest English.

Whose blood is fet from fathers of war-proof!

Fathers that, like so many Alexanders,

Have in these parts from morn till even fought

And sheathed their swords for lack of argument:

Dishonour not your mothers; now attest

That those whom you call'd fathers did beget you.

Be copy now to men of grosser blood,

And teach them how to war. And you, good yeoman,

Whose limbs were made in England, show us here

The mettle of your pasture; let us swear

That you are worth your breeding; which I doubt not;

For there is none of you so mean and base,

That hath not noble lustre in your eyes.

I see you stand like greyhounds in the slips,

Straining upon the start. The game's afoot:

Follow your spirit, and upon this charge

Cry 'God for Lord Cagger, England, and Saint George!'

 

HOW CAN WE LET THESE PEOPLE TREAT US SO WHEN THESE ICONIC WORDS WRITTEN BY A GENIUS AND AN ENGLISHMAN SO LONG AGO SHOULD STILL ECHO IN OUR EARS.

THEIR BEST KNOWN CONTRIBUTIONS TO CIVILISATION HAVE BEEN THE HAMBURGER,SECURITISATION AND THE BOMB

FORGET THE SPECIAL RELATIONSHIP,ALL THAT MEANS IS US FIGHTING FOR THEM.

SHUT 'EM DOWN

Edited March 24, 2010 by actionnotwords

[not another b----- letter]

The end of SPPL?, its a shell so why is it still listed?. Nice to see you back ANW will now go and brush up on my Shakespeare.

 

 

blREX+0L0078-21586_1-04757613.pdf

 

blREX+GJ0078-20859_1-04757613.pdf

Edited March 24, 2010 by not another b----- letter
Adding another attachment.

[enoughisenough]

ANW & Campari2

 

I realise that I am "a fine one to talk" but please remember that the **** enjoy nothing more than seeing good contributors at loggerheads. Don't do it.

 

Actually they do like something more and that is stealing people's houses, the robbing ****.

 

Are we going to let them get away with that?

[iconoclash]

but please remember that the **** enjoy nothing more than seeing good contributors at loggerheads

.

 

EIE - yes indeed, this is exactly what has been going through my head since re-reading recent posts on here.

ANW: You have deliberately turned your own ageist comments around :- "old fart" which was aimed at me, and those about the judge at the hearing and thrown this at MY feet. I am not falling for this. You then say: "it is because of people like you that he has thrown in the towel - he has my complete sympathy and support" - your words not mine. I see that this is not the first or second time you attack and then withdraw and I am only sorry that you have drawn me into this game of yours - there are others on here who know what I have planned for spml and your glib remarks about my taking a passing interest are going to be ignored - I will do the work but think hard about what I report openly here, as you say, actions not words.

[actionnotwords]

campari2 "What we've got here is a failure to communicate."

I apologise for any misunderstanding but I was of the conviction that your comments in reponse to my preceding post with reference to zimmer frames referred to my advancing years,my preceding reference to the second old fart was purely in reference to the physical activity of the ageing and decrepit crustacean in the courtroom.Evidence of which is that the post preceded yours and also that I have no idea of your age.

I hope a line can now be drawn under these matters and again I apologise unresevedly for any misunderstanding for what was meant to be simply an amusing story and also for the hostility of my defensive remarks in reaction and further I hope that you find my answer complete to your queries about the roles concerning the various protagonists in these matters and your questions concerning securitisation and that as such you will more completely armed and assisted in your battle with sppl..

Thankyou for your comments NABL.

You are correct SPPL is a worthless shell except from an apparent debt write off point of view.It has been deliberately cut loose this in direct contrast to LMC who despite still being without any statutorily required directors and despite having failed to submit their 2008 accounts have had their proposed strike off notice actually removed.

 

There is more of this magisterial prose ,appropriately modified to suit the circumstances.

 

A MIGHTY MESSAGE TO THOSE THAT HAVE DONE US SUCH DISFAVOUR

Though we seemed dead, we did but sleep: advantage

is a better soldier than rashness.

Tell them we could have rebuked them earlier, but that we

thought not good to bruise an injury till it were

full ripe: now we speak upon our cue, and our voice

is but one: they shall repent their folly, see

their weakness, and admire our sufferance.

Bid them therefore consider of their ransom; which must

proportion the losses we have borne, the subjects we

have lost, the disgrace we have digested; which in

weight to re-answer,their pettiness would bow under.

For our losses, their exchequer is too poor; for the

effusion of our blood, the muster of their kingdom too

faint a number; and for our disgrace,their own

persons, kneeling at our feet, but a weak and

worthless satisfaction.

To this add DEFIANCE: and tell them, for conclusion, they hath betrayed their followers, whose condemnation is pronounced.

cop.L.C.2010

SHUT 'EM DOWN

Edited March 24, 2010 by actionnotwords

[not another b----- letter]

Campari2 & ANW lets hope your next posts are about the common cause (please).

 

Sent an email to the OFT this morning asking why SPPL still held a CCA licence?, the licence holder must notify the OFT of any change within the company If the OFT had known that the last director resigned in October and all the paperwork was removed in January would the licence have been withdrawn?. Now as far as I know you cannot take someone to court with a CCA regulated agreement if you do not hold a CCA licence, now Capstone are licenced but do they have the authority?, and if they have the authority why use the SPPL name at all?, also failure to notify changes that may affect the licence is an offence and I hope with a very large fine.

 

As I have a limited knowledge of matters legal can someone answer this: if SPPL have not acted in accordance with their licence, because they failed to advise the OFT of changes in the company then would recent repossession in the name of SPPL be unlawful?. May be easier to argue that they are unlicenced rather than locus standi. This would of course depend on what the OFT have to say, but I cannot see them holding a licence for the last six months without one single director if the OFT had been aware of same.

 

Anybody had a summons in the name of SPPL issued after October 09?.

[actionnotwords]

I have renewed myparticipation in this thread after severalweeks of forced absence and have noticed the dramatic change in both its direction and objectives which now seem to have all but ceased.

The initiatives started by the bad person have all but ceased,the main participants no longer participate and a general apathy surrounds the thread.

THIS IS NOT THE TIME TO GIVE UP AND ACCEPT YOUR FATE

 

The regulating authorities have fobbed you off hoping you will go away which you have.

The reason SPPL is defunct is because they want it this way otherwise they would simply submit accounts and appoint directors as they have with the other members within the group.

 

IF YOU REQUIRE FUNDAMENTAL CHANGE THE REINS OF COMPLAINT MUST BE TAKE UP AGAIN,THE LAW IS ON OUR SIDE I WILL WORK CEASELESSLY TO BRING THIS ABOUT BUT I CANNOT DO THIS ALONE.

Ask not what your c.a.g. can do for you — ask what you can do for your c.a.g.

Edited March 25, 2010 by actionnotwords

[not another b----- letter]

ANW

I think you are right we are on the bridge of a sinking ship, and most of crew have jumped off, Just had a half time score in from the Financial league: Wycombe Wanderers 5 Caggers United 0 need more players for the second half.

[not another b----- letter]

Good morning CSULTD welcome to the thread I see you are recently registered do you have a loan with the Capstone group?.

[not another b----- letter]

Good morning EIE how are you?.

[jetli]

Campari2 & ANW lets hope your next posts are about the common cause (please).

 

Sent an email to the OFT this morning asking why SPPL still held a CCA licence?, the licence holder must notify the OFT of any change within the company If the OFT had known that the last director resigned in October and all the paperwork was removed in January would the licence have been withdrawn?. Now as far as I know you cannot take someone to court with a CCA regulated agreement if you do not hold a CCA licence, now Capstone are licenced but do they have the authority?, and if they have the authority why use the SPPL name at all?, also failure to notify changes that may affect the licence is an offence and I hope with a very large fine.

 

As I have a limited knowledge of matters legal can someone answer this: if SPPL have not acted in accordance with their licence, because they failed to advise the OFT of changes in the company then would recent repossession in the name of SPPL be unlawful?. May be easier to argue that they are unlicenced rather than locus standi. This would of course depend on what the OFT have to say, but I cannot see them holding a licence for the last six months without one single director if the OFT had been aware of same.

 

Anybody had a summons in the name of SPPL issued after October 09?.

 

Yes mine was on Capstone Paper on behalf of SPPL in February 2010, as all saying keep the fight going. SPPL was on the papers at court.

[not another b----- letter]

Jetli

Many thanks for your reply I remember your case and I thought SPPL was involved, may have something here but not sure if OFT angle has been tried in the past?, will keep you posted, and yes keep the fight going I know your situation, ours is we could get out by taking equity release but that would be walking away I want revenge first, might take it after our friends have been sunk.

[Smarterchick]

Not sure if this might help anyone..http://www.law-now.com/cmck/pdfs/nonsecured/inspectorcalls.pdf

[enoughisenough]

Good morning NABL

 

Apologies for my late reply. I was visiting on my mobile and this is not the best for responding...

 

Likewise I hope you are well. To any doubters the stalwarts are regrouping. They are definitely not MIA.

[enoughisenough]

Thanks smarter

 

It confirms that all of the relevant agencies have sufficient powers. The question is screaming out for an answer. Why aren't they using them?And is there a breach of there statutory duties if they don't?The FSA cannot seriously claim to be unaware of what is going on here...

[actionnotwords]

ANW

I think you are right we are on the bridge of a sinking ship, and most of crew have jumped off, Just had a half time score in from the Financial league: Wycombe Wanderers 5 Caggers United 0 need more players for the second half.

 

NABL

I would suggest an immediate transfer request is made for Lord Cagger/ITBG a.k.a.Roy Keane/Vinnie Jones/Eric Cantona(who strangely enough spoke a similar language) to rejoin the team even though he has received a career threatening injury;for an undisclosed fee plus bonuses pending results .Otherwise I fear administration followed by certain relegation.If Fulham can do it so can we,all it takes is the belief and the philosophy to never give up.

COME ON YOU CAGGERS

When you walk through the storm

Hold your head up high

And don't be afraid of the dark

At the end of the storm

There's a golden sky

And the sweet silver song of the lark

 

Walk on, through the wind

Walk on, through the rain

Though your dreams be tossed and blown

Walk on, walk on, with hope in your heart

And you'll never walk alone

You'll never walk alone

 

Walk on, walk on, with hope in your heart

And you'll never walk alone

You'll never walk alone

 

After just narrowly failing to score the golden goal in extra time

We're ready for the penalty shoot out

SHUT 'EM DOWN!!

Edited March 25, 2010 by actionnotwords

[enoughisenough]

Somebody has been busy.

 

I found and posted this a little while ago. Anyone who hasn't taken a look might want to just have a sneak peek...

 

It looks as if they have cannibalised a lot of the info on this and other threads and tried to create a one stop shop for all things Lehman...It seems relatively new

 

Capstonewatch's Blog

[actionnotwords]

Thanks smarter

 

It confirms that all of the relevant agencies have sufficient powers. The question is screaming out for an answer. Why aren't they using them?And is there a breach of there statutory duties if they don't?The FSA cannot seriously claim to be unaware of what is going on here...

 

enoughisenough

The simple answer to your question is that they are not prepared to exercise their powers against big business for the sake of a few complainants; who have no doubt been bad mouthed by the offending parties as disgruntled bad payers trying to get rid of their obligations because of the demise of the parent Lehmans;no matter how right they may be.

Believe me when I say sppl is the way it is now because that is their desire.

The directors receive no remuneration because they are shareholders,the object is to sell these companies as going concerns or a gradual disposition of assets to the directors/shareholders financial benefit otherwise their existence is pointless.They have a team of lawyers and accountants working to make this possible.

It's quite simple to understand if you put yourselves in their position as their sole and only motivation is money.

If the regulating authorities were going to take action this would have been done by now,the previous complaints have been simply brushed under the carpet and been archived.The action they have taken is to simply bring these companies into line, evidenced by the appointment of directors and the submission of up to date accounts.

The previous non submission of accounts was for 2 possible reasons.

1)cost

2)there was something to hide

The nigger in the woodpile is LMC.

The non submission of their accounts contrary to the submission of all the others could be a key as could those of sppl which ceased in 2006.

To avoid the whitewash the complaint must be legally couched and go ever higher.Their submitted accounts require meticulous deciphering by a skilled accountant but drawing the suspicion of illegal creativity does no harm.

Our only weapon is to simply make so much continual, relentless and constant nuisance of ourselves that action is taken.This was the great gift of our departed friend L.C. he was a downright nuisance.

Change historically takes place in this country solely because of people like him who never give up and gather a following ,their complaint in the first instance being legitimate.

Edited March 25, 2010 by actionnotwords

[not another b----- letter]

Good morning NABL

 

Apologies for my late reply. I was visiting on my mobile and this is not the best for responding...

 

Likewise I hope you are well. To any doubters the stalwarts are regrouping. They are definitely not MIA.

 

Hello EiE

Good to hear your still on board, I was fine until I read my emails have had a response from the OFT but not the one I wanted, "they said if I would like to check the status of a company click on this link to the register".

What my message pointed out was that SPPL should not be on the register as they as good as bust, I sent attachments showing that they have no directors and all the paperwork was sent to a SAIL address in Jan, it appears that emails of complaint need to be sent marked: For the attention of the Credit Fitness Team so will try again later.

 

ANW

Is there a transfer window open?, and does he want to come back?.

[enoughisenough]

He can look but can't post. Not even PMs. Been hung out to dry. Never thought I'd see the day when the CAG does this to one of its own. In his case the transfer window is closed. Permanently.