Dear all,
I myself have been on various calls to KPMG and have heard nothing which has given me any more details on what is going on. My understanding is that the creditors meeting is to be held next week and have heard this from someone that is supposed to be on the panel.
When are we going to get our compensation?
We should know something at the latest by the 16th of May as this is when the 8 weeks are up for KPMG.This is accordance to the FSA GUIDELINES
I have also called FSCS to find out their views on the current situation and they have told me they have not received anything from the administrators and it can take up to a maximum of six months to receive our funds. Please don’t get disheartened by this as I am sure we should see some compensation in June at some point.
This is what prompted to for me to call the FSCS
I had a distressing call from one of the clients that has lost money and he is literally in a very bad situation where he requested a full withdrawal 3 weeks prior to the event as he needed the full funds due to financial issues. He had called the FSCS and they told him that this could take six months. I can understand that many of you are in similar situations please be patient .Will try and post more regularly with whatever information I can get which is factual.
For now the date to bear in mind is the 16th of May.
Kind regards
Rav
I myself have been on various calls to KPMG and have heard nothing which has given me any more details on what is going on. My understanding is that the creditors meeting is to be held next week and have heard this from someone that is supposed to be on the panel.
When are we going to get our compensation?
We should know something at the latest by the 16th of May as this is when the 8 weeks are up for KPMG.This is accordance to the FSA GUIDELINES
I have also called FSCS to find out their views on the current situation and they have told me they have not received anything from the administrators and it can take up to a maximum of six months to receive our funds. Please don’t get disheartened by this as I am sure we should see some compensation in June at some point.
This is what prompted to for me to call the FSCS
I had a distressing call from one of the clients that has lost money and he is literally in a very bad situation where he requested a full withdrawal 3 weeks prior to the event as he needed the full funds due to financial issues. He had called the FSCS and they told him that this could take six months. I can understand that many of you are in similar situations please be patient .Will try and post more regularly with whatever information I can get which is factual.
For now the date to bear in mind is the 16th of May.
Kind regards
Rav
Rav, I'm in equally dire situation myself, hope I'm wrong but I spoke with KPMG yesterday and was told the creditors meeting is in 8weeks time, not next week. And was then told by the FSCS that only once KPMG have dealt with their payments can the FSCS get involved which could take a further 6months.
ReplyDeleteJay111s
I get the feeling they are having serious trouble recovering the money from any of those caught up in the 'bet scandal'.
ReplyDeleteId say that the clients who owe money on the back of this are putting up a fight, and any collection might be years away, as it could end up in court.
I've only just found this web page and have been pretty much in the dark. It's slightly reassuring to see your comments about the chances of ever seeing my money again. Keep posting any info you have. Lets hope they lock these guys up for a long time.
ReplyDeleteWORLDSPREADS GROUP PUBLIC LIMITED COMPANY
ReplyDeleteRegistered Number 340357
Incorporated Date Available on the Full Company Report
MEETING OF CREDITORS – Scheduled For 08/05/2012
Jay111s
Rav,
ReplyDeleteKeep your good job. You're a hope for us.
The clients have to maintain the pressure above the administration.
Best regards,
Diogo
Statutorily the creditors’ meeting must be held within 10 weeks of our appointment. As soon as a date is confirmed you will receive formal notification.
ReplyDeleteKind Regards
The Joint Special Administrators
^^^ Above post was received from KPMG
ReplyDelete