Distressed Asset Bonds gone bad

Wildsound

By that logic, I'll send over that £20k to the African lawyers who need it to release my lost inheritance of £500k on the basis that I might get paid

Reaper

PAULHENDERSON1 wrote: »

the 2017 accounts are still with the auditors , for some reason

Maybe because they won't sign them off? Or haven't been paid? I can't think of many more reasons why else they would be so late.

PAULHENDERSON1 wrote: »

The difference between value of creditors and assets was about £-450,000 in 2016... If we leave them to sort it out, we might get paid.

From that huge deficit?

Malthusian

PAULHENDERSON1 wrote: »

The difference between value of creditors and assets was about £-450,000 in 2016.
Fact remains if we all steam in with a legal axe, they will disappear in a puff of smoke.
If we leave them to sort it out, we might get paid.

If you steam in with a legal axe then either you get paid, or administrators will be appointed with the job of minimising further losses to creditors. I.e. ensuring that whatever the deficit is now (almost certainly much bigger than £450,000) doesn't get any wider.

Or you can leave them to sort it out, flog off everything left to be sold before the administrators get their hands on it, and disappear with the rest of the money.

Or you could go in with a legal axe and find all the money is long gone already.

Up to you. I'm afraid there are no good choices at this point.

Continuing to blindly swallow the claims of people who have already taken your money off you is however likely to result in nothing but further grief.

No-one in the history of unregulated investments who has been dealt Endgame Play #7 - "If you kick up a fuss, the scheme will collapse and it'll be your fault" - and has been a good little investor and kept quiet, has ever gone on to recover their money as a result.