London Capital and Finance

Supercalafragalistic

masonic wrote: »

If Currys outsourced its customer service helpline and sales operations to a third party and you bought a dodgy Panasonic TV over the phone, your transaction and complaint would still be with Currys.

I see what you mean , but to my mind....panasonic = lcf, currys = surge.

Who is the third one?

masonic

Supercalafragalistic wrote: »

I see what you mean , but to my mind....panasonic = lcf, currys = surge.

Who is the third one?

In this analogy:
the dodgy Panasonic TV is a loan issued to London Oil & Gas
Currys is LCF
the outsourced advertiser and phone service is Surge.

Bondholders haven't entered into a sales contract with Surge, so Surge cannot be Currys.

GDB2222

Supercalafragalistic wrote: »

I see what you mean , but to my mind....panasonic = lcf, currys = surge.

Who is the third one?

When you deal with a retailer's customer service, you may well actually be dealing with a 3rd party call centre. Surge would argue that they were in much the same position as the call centre, supplying services specified by LCF.

Of course, it's in the nature of these things that the call centre staff may go off script, and the question is whether that may make Surge responsible?

masonic

GDB2222 wrote: »

Of course, it's in the nature of these things that the call centre staff may go off script, and the question is whether that may make Surge responsible?

This is possible, but not an avenue accessible to bondholders directly. LCF could take action against Surge for not providing the services in the way they should have. LCF being the Joint Administrators, and they've already hinted they were considering this.

jimjames

Sledger wrote: »

B&G Finance recently formed One woman band Ms. Dinah Benzaquen solicitor. and loves West Ham

Basset & Gold is lending bondholders money to a single company based in Cyprus.

https://damn-lies-and-statistics.blogspot.com/2019/03/basset-gold-isa-bond-review.html

As per LCF there are claims of FCA compliance yet that doesn't relate to the actual bonds issued

jimjames

masonic wrote: »

If Currys outsourced its customer service helpline and sales operations to a third party and you bought a dodgy Panasonic TV over the phone, your transaction and complaint would still be with Currys.

Interestingly it also appears that the third party (Surge) marketed other companies products (like Blackmore) to LCF investors using the data from LCF. I think there are more connections between them than have been exposed so far.

Ironic if Surge get caught by DPA/GDPR regulations rather than anything related to fraud

sully1311

RE: Blackmore

I can't find their bonds on the website anymore. In fact everything has been removed except info about the 'invested projects' and a login link.

Something is going on....

Reaper

I think they are understandably worried by the LCF fallout and people like us pointing out the similarities.

They had a sudden attack of transparency recently:
https://bondreview.co.uk/2019/03/01/blackmore-leaps-into-new-era-of-transparency-by-declaring-up-to-20-commissions/

but not surprisingly they are now thinking that isn't enough this late in the day (it isn't) so it looks like have removed everything.

jimjames

Reaper wrote: »

I think they are understandably worried by the LCF fallout and people like us pointing out the similarities.

They had a sudden attack of transparency recently:
https://bondreview.co.uk/2019/03/01/blackmore-leaps-into-new-era-of-transparency-by-declaring-up-to-20-commissions/

but not surprisingly they are now thinking that isn't enough this late in the day (it isn't) so it looks like have removed everything.

Blackmore were also featured on the BBC Moneybox programme. They shared the same marketing partner as LCF. I wonder if FCA have taken action like LCF and forced removal of marketing. With LCF it wasn't published for a few days, there isn't currently anything on FCA website but who knows..

https://damn-lies-and-statistics.blogspot.com/2019/03/blackmore-bonds-closed-fca-action.html

Supercalafragalistic

sully1311 wrote: »

RE: Blackmore

I can't find their bonds on the website anymore. In fact everything has been removed except info about the 'invested projects' and a login link.

Something is going on....

Strange you should say this. Strange no staff come forward either. Maybe had incentives not to?