Trusts, trustees, proposed actions, call for information

[webberg]

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.

[Armstrong]

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.

Ok, please let me know what you need, happy to participate

[webberg]

Thank you.

Ask the mods for PM rights - drop me a PM - I'll send back my email.

[hrz]

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.

I am happy to participate,, please get in touch.

[Socialsarah73]

I am happy to share - what do you need I have all email correspondences, illustrations agreements etc

[webberg]

This idea ran out of steam due to general lack of interest.

We instead pursued evidence gathering in our own client population and have a good body of material.

The recent letters from FS Capital and Felicitas have sparked renewed interest but I think that unless you have the smoking gun, we have what we need from our clients.

The plan to create an alternative platform to prevent loans falling into potentially unfriendly hands has been overtaken by events. That is no longer an active theme in our business and unless there is any enthusiasm rekindled for it, probably will not be renewed.

What is the smoking gun?

Written evidence from the "lender" that money paid to you - described as a loan - is regarded by them as something else, i.e. not a loan. Further, a statement in writing that the alleged lender will not request repayment of the claimed loan.

Note. Often the FAQ that came with introductory packs or marketing material made statements along the lines above. That is NOT what I need. That is a statement made prior to you signing a legal contract and I am advised may have little weight legally. We can and will make use of such statements, but really it's a post payment written statement that I need please.