We are seeing more and more trusts, trustees and their advisers suggesting to beneficiaries and lenders (not always the same people) that they are about to take certain actions vis a vis the loans that remain outstanding.
It is no coincidence that this comes at a time when the settlement deadline is approaching at the speed of time and more and more ex-promoters and related parties are becoming more difficult to find and deal with.
It also has to be said that some (not all) are seeing an opportunity to make some more fees, sometimes by suggesting that loans will be recalled unless certain payments are made. For all we know this is a legitimate position for them to take.
That said, we are gathering our resources and mobilising our legal people to examine and if necessary (and possible) we will challenge certain actions.
We are also considering a structure that may offer trusts/trustees an alternative if their objective is simply to remove a layer of cost from their bottom line.
We have a library of material on most schemes and have asked our clients for more.
We are though looking for additional material on some arrangements.
If you are willing and able to volunteer that material and waive whatever GDPR issues necessary, we would be grateful to receive documentary evidence.
You do not have to be a client. There will be no fee. You will not be included on a marketing database and be pestered with "join us" messages.
Our initial projects are loans/assets held or organised by:
Pinotage Trustees
RJW
Fleming Laing
Thank you.
It is no coincidence that this comes at a time when the settlement deadline is approaching at the speed of time and more and more ex-promoters and related parties are becoming more difficult to find and deal with.
It also has to be said that some (not all) are seeing an opportunity to make some more fees, sometimes by suggesting that loans will be recalled unless certain payments are made. For all we know this is a legitimate position for them to take.
That said, we are gathering our resources and mobilising our legal people to examine and if necessary (and possible) we will challenge certain actions.
We are also considering a structure that may offer trusts/trustees an alternative if their objective is simply to remove a layer of cost from their bottom line.
We have a library of material on most schemes and have asked our clients for more.
We are though looking for additional material on some arrangements.
If you are willing and able to volunteer that material and waive whatever GDPR issues necessary, we would be grateful to receive documentary evidence.
You do not have to be a client. There will be no fee. You will not be included on a marketing database and be pestered with "join us" messages.
Our initial projects are loans/assets held or organised by:
Pinotage Trustees
RJW
Fleming Laing
Thank you.
Comment