Welcome Finance - This company needs to be banned.

[postggj]

hi traz

 

put in a knutshell

 

all the small bondholders in cattlse, mainly in the usa have got togeather and reached the 35% voting rights

 

they have told the banks to sod off and called in the loans

 

they know the banks are prob out to shaft them

[postggj]

next step is addministration and winding up

 

cattles have no assetts to pay these loans

[traz39]

so they have to pay the money they dont have yey

[postggj]

you got it in one

 

cattles have no dosh

[traz39]

yippee i think i will get my dancing clogs on to so what now post do u think my dd due monday wonder if they want it

[postggj]

ive a feeling this demise is going to happen rather quickly

 

these small bonholders want there money, and now

 

as andie said

 

they have left this anouncement till late on a friday

 

just enough time for shall we say assetts to go into hiding

 

does brazil still have an extrdition treaty

 

some senior board members, past and present have alot of explaning to do

 

even the 2007 results are now know to be crap

[dadofholly]

next step is addministration and winding up

 

cattles have no assetts to pay these loans

 

how much are the bond holders owed? could the banks pay them off at a discount... i.e. they may prefer a little of something than a lot of nothing.

[postggj]

the ammount to settle these bondholders is 400 million

 

the banks are into cattles at the moment for 750 million

the total debt cattles owes is now around 2.5 billion

 

does the banks even have this money

 

i very much doubt it as they will have to go at it on there own

[postggj]

these small bond holders are not interested in restructure or debt 4 equity

they want there money now and can force addministration as they feel the banks are out to screw them

 

remember

 

these bond holders are foreign, mainly usa investment houses

[postggj]

nobody believes the cattles figures

 

even price waterhouse who did the accounts in the past are under investigation for the accounts submitted in 2007 by cattles

[dadofholly]

these small bond holders are not interested in restructure or debt 4 equity

they want there money now and can force addministration as they feel the banks are out to screw them

 

remember

 

these bond holders are foreign, mainly usa investment houses

 

i get that but if there is no money to give them.. they get nothing.... where as if they was offered 25% as a pay off they may take it... if the banks had the bottle to back a deal that is.

 

Think the banks are going to cut their losses? they will be huge losses to them.

[dadofholly]

nobody believes the cattles figures

 

even price waterhouse who did the accounts in the past are under investigation for the accounts submitted in 2007 by cattles

 

Did price waterhouse do my agreement then? lol

 

the quicker welcome go the better.... but cant see them going quietly... sigh will be a shame to see them go lol

[postggj]

the bondholders will force addministration,

they feel there is nothing left to loose

 

they prob have insurance against this happening anyway

like i said

 

all the figures since 2007 are crap

remember

 

its the bond holders who get paid first

the share holders are going to get nothing

 

the banks will prob offer a deal but it will not be taken by the bonholders

 

the feed back ime getting is of being shafted and kept in the dark

 

they want blood

 

and now

[postggj]

all that creative accounting

you know the 37 month agreements on your credit file instead of 36

manipulating the share price with over ambitiouse results and profits

 

its all been pie in the sky

 

the main reason also is they know, the bond holders about all the dodgy agreements/ppi/commission payments etc

 

at least they will get some thing

 

 

ime talking personel assetts of past and present board members now

[dadofholly]

Is there anyone they aint screwed?

 

Once they go there needs to be an investigation into the whole sorry business... new legislation if need be.

[T2upNorth]

So, from a practical perspective, what happens next?

For example, I'm in the early stages of a claim against them for PPI, charges etc. I've SAR'd but not had a response (am I likely to get a response?)

I'm still paying, not in official dispute. I want to keep the car and have paid over 1/3. Next DD due end of month. Will it be taken? Could I get away with cancelling it?

What do you guys think?

[postggj]

it all depends how quick the bond holders move

just keep watching this thread

 

my own opinion is

 

not very long

 

the sooner they get paid the better is the general feeling

 

ime direct to the rns server so ill post news as it happens

if not andie is pretty quick along with pgh

 

just sit tight

 

we will guide you through this

[Dipply75]

Sing with me!..............

 

"And noooww, the end is near.......

 

hehe

[Dipply75]

seriously though, once its done (and miller time is over lol) we need to spred the word. Tell everyone what their new situation is, how tofind out how they've been scammed and what to do about it.

 

I talked a long while ago on this thread about a couple I dealt with who were ripped off like you wouldn't believe...I have always vowed to get word to them that they can be free of them.

 

They were good people and what was done to them was very wrong. There should be CAG leaflets or something we can hand out.....I am forever writing the website on scraps of paper etc!

[T2upNorth]

it all depends how quick the bond holders move

just keep watching this thread

 

my own opinion is

 

not very long

 

the sooner they get paid the better is the general feeling

 

ime direct to the rns server so ill post news as it happens

if not andie is pretty quick along with pgh

 

just sit tight

 

we will guide you through this

 

This thread is my new homepage!

[postggj]

please dipply

no frank sinatra impression

 

liked the sex pistols version better with cattles

[traz39]

we might get some good settlement figures i might offer them alot less what u think

[Dipply75]

please dipply

no frank sinatra impression

 

liked the sex pistols version better with cattles

 

PMSL! Cattles haha

 

Friggin in the riggin more up Welcome's street

[postggj]

thats a point

 

when the crap hits the fan official

 

i would think very generouse settlement figures will be sent out

 

dont let them dictate

 

you say to them how much to pay to settle the account

 

my opinion is no more than 20 pence in the pound

 

stick to your guns and remember

 

get any settlement figure in writing before you pay

 

that is those of you who want to pay these t ^&%^&*g anything

[postggj]

dipply

 

fiddling the rigging more like