Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

[Last]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

OK.....6 weeks on Thursday...........does anyone actually think we will hear anything before the 8 weeks............I am assuming what we have recieved so far doesn't met the criteria for the 8 week timeline. Because I do believe my frustration may boil over!!!!

[bigndav]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

hi all,
I am a Bournes casualty too, and that after being with Smooth Financial for several years, who equally went the shape of the pear! I have had endless calls from other such company's telling me how they are different etc etc. I don't trust a single one of them. I am endeavouring to do it myself now. i have a couple of questions[
1. do you think we will get any money back? i paid two months that never got distributed
2. I keep hearing the magic 5 years and debt free spiel. i have been paying for over that, does that mean anything legally for me to be debt free?

Its time to lobby the authorities to demand that these DMC's be regulated AND insured so that in these circumstances their victims are compensated AND the owners are struck off & never allowed to operate in the financial industry again

[Last]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

There is a code of coduct for DMP that is regulated by the office of fair trading, now the FCA. It does state that any client money MUST be held in sepearte ring fenced, non interest accounts and not be used for any company business.

I don't underatnd how we are not covered by any compensation scheme.

[bigndav]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

me neither! got Debtmasters Direct chasing me now :-( mind you they do say they are very different blah blah blah. Crooks and parasites the lot of 'em

[Amethyst]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration


Free advice on problem debt
based on what's best for you
0800 138 1111 Freephone - including all mobiles

[righty]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

You could issue a money claim against both Bournes and the liquidators & if you obtain a CCJ then you can apply to freeze their existing bank accounts.

[Nibbler]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

What did the ombudsman say they could do?

Beyond the stage where the Ombudsman can do anything useful I think.

Regards the administrators, a quick look shows.

Challenge to administrator’s conduct of company

74(1)A creditor or member of a company in administration may apply to the court claiming that—

(a) the administrator is acting or has acted so as unfairly to harm the interests of the applicant (whether alone or in common with some or all other members or creditors), or

(b) the administrator proposes to act in a way which would unfairly harm the interests of the applicant (whether alone or in common with some or all other members or creditors).

(2) A creditor or member of a company in administration may apply to the court claiming that the administrator is not performing his functions as quickly or as efficiently as is reasonably practicable.

(3) The court may—

(a) grant relief;

(b) dismiss the application;

(c) adjourn the hearing conditionally or unconditionally;

(d) make an interim order;

(e) make any other order it thinks appropriate.

(4) In particular, an order under this paragraph may—

(a) regulate the administrator’s exercise of his functions;

(b) require the administrator to do or not do a specified thing;

(c) require a creditors’ meeting to be held for a specified purpose;

(d )provide for the appointment of an administrator to cease to have effect;

(e) make consequential provision.

(5) An order may be made on a claim under sub-paragraph (1) whether or not the action complained of—

(a) is within the administrator’s powers under this Schedule;

(b) was taken in reliance on an order under paragraph 71 or 72.

(6) An order may not be made under this paragraph if it would impede or prevent the implementation of—

(a) a voluntary arrangement approved under Part I,

(b) a compromise or arrangement sanctioned under [F12Part 26 of the Companies Act 2006 (arrangements and reconstructions)] , F13. . .

[F14(ba) a cross-border merger within the meaning of regulation 2 of the Companies (Cross-Border Mergers) Regulations 2007, or]

(c) proposals or a revision approved under paragraph 53 or 54 more than 28 days before the day on which the application for the order under this paragraph is made.

[libra1970]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

Hi has anybody heard anything more about Bournes? Have we heard if we will get any money back? This is so frustrating.

[righty]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

Beyond the stage where the Ombudsman can do anything useful I think.

Regards the administrators, a quick look shows.

I would also suggest that without the debtors/victims express consent Mr Levy had nothing to sell until such consent was obtained which we understand it never was

I suggest this is just another possible reason confirming that they are not acting in accordance with your best interests. allegedly!

[righty]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

hi all,
I am a Bournes casualty too, and that after being with Smooth Financial for several years, who equally went the shape of the pear! I have had endless calls from other such company's telling me how they are different etc etc. I don't trust a single one of them. I am endeavouring to do it myself now. i have a couple of questions[
1. do you think we will get any money back? i paid two months that never got distributed
2. I keep hearing the magic 5 years and debt free spiel. i have been paying for over that, does that mean anything legally for me to be debt free?

When Smooth Financial went pear shaped how much money (if any) did you have returned to you?

[bigndav]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

When Smooth Financial went pear shaped how much money (if any) did you have returned to you?

luckily I changed to Bournes about 2 months before Smooth went tits up , so didn't lose anything at that time.

[righty]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

luckily I changed to Bournes about 2 months before Smooth went tits up , so didn't lose anything at that time.

Frying pan to fire then

[Ruthless]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

Hi all have been away, very sad to see no further information from Mr Levy.

[Nibbler]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

Afraid it is the way it tends to go in theses cases. Members of the public owed money are usually the last to know anything and are just left hanging.

[peteroche]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

Hi all
New to the forum , but a casualty none the less.
Am I being naïve ,surely if the monies paid by ourselves are no longer there , then it becomes a fraud issue ?

At no point did we give authorisation for the supposed money in the respective pots to be used for anything other than final settlements ?