Latest Update 24/5 from AABRS for Compass / RMR

[Amethyst]

Attached Liquidators Report - and a further Client Questionnaire to complete.

Basically there is still no refund likely for the foreseeable but things are happening, and could involve Criminal proceedings.

Key bits then...

Now 758 client claims totalling 4.2m.

Around 1000 clients haven't submitted claims ( around 1.4m value )

950k was paid in Dividends to the companies shareholders ( the 3 directors) - these have been deemed illegal and are repayable. None of the Directors repaid the dividends.

Action is being taken to try and recover that money. It isn't going to go far though even if it is recovered.

Robert Solloway has been made bankrupt as of 22 March 2017.

Mark Harrison and Richard Mott have proceedings for bankruptcy in court at the moment. A bankruptcy order has been issued against Mott. Harrison is defending the case

[Tangotommy]

Re: Latest Update 24/5 from AABRS for Compass / RMR

Thank-you for keeping myself and others informed, I suppose that the chances for what they took from us to be returned are probably zero and hopefully over a year on many of us have come to terms with regards to sorting our lives out. We lost over 9k and to this day we still hope to see the 3 of them brought to justice.

[sal77]

Re: Latest Update 24/5 from AABRS for Compass / RMR

Thank you for this. I have just printed out the report and have a good read through tonight. You mention a Client Questionnaire - is this something we have to fill out as it's not with the attachment. I agree with Tangotommy, zero chance of any of us getting anything back but hopefully justice will be done.

[Amethyst]

Re: Latest Update 24/5 from AABRS for Compass / RMR

Para 2.35 (page 10) - I may be misunderstanding. Presumably this report will be sent ( with the questionnaire ? ) to clients who have put in a claim ?

[Amethyst]

Re: Latest Update 24/5 from AABRS for Compass / RMR

Sadly I also don't think there will be very much coming back to people - Solloway has been made bankrupt, the other two are facing bankruptcy... so that's a start, and possibly criminal action being taken... these things take bloody years and it's extremely unfair.

[Raspingolive]

Re: Latest Update 24/5 from AABRS for Compass / RMR

Many thanks for sharing this. I like many have kind of come to terms with the fact we lost a lot of money and have had to start paying debts off again that we thought had been repaid!!!! I will complete the questionnaire and hope that there's a slight chance we all get something!!!!

[Amethyst]

Re: Latest Update 24/5 from AABRS for Compass / RMR

Well for interest ( always nice to read things from the horses mouth )

Robert Solloway https://www.insolvencydirect.bis.gov...087&CaseType=B

Richard Mott - https://www.insolvencydirect.bis.gov...087&CaseType=B

[Amethyst]

Re: Latest Update 24/5 from AABRS for Compass / RMR

Many thanks for sharing this. I like many have kind of come to terms with the fact we lost a lot of money and have had to start paying debts off again that we thought had been repaid!!!! I will complete the questionnaire and hope that there's a slight chance we all get something!!!!

Did you get a copy of the questionnaire Olive?

[D3wanabee]

Re: Latest Update 24/5 from AABRS for Compass / RMR

Thanks for the information Amethyst. I've never been able to login to the portal so your post are really useful. I doubt we'll ever get any money back, is it even worth filling out the questionnaire? I wish I'd trained to be a Liquidator the money they charge is obscene! But I'm glad to see they've forced the crooks to go bankrupt. No doubt they will have siphoned off their assets to other family members though. Lets just hope they do a stretch in prison!!

I'm managing to sort my DMP out myself nowadays, its pretty easy really, I've become hardened to the creditors, its generally all scare tactics and if you jut stick to your guns they back off, I don't communicate unless its in writing, that BT True Call phone I bought was the best purchase ever!

[Unlimited5]

Re: Latest Update 24/5 from AABRS for Compass / RMR

I am not sure if this is a common case however I have documentation from Compass stating that debts had been repaid and the money left my compass account however I am now being pursued by the companies for payment as they say they have never seen the money?? Surely this is theft and therefore a criminal matter?

[mariuxa]

Re: Latest Update 24/5 from AABRS for Compass / RMR

Hello, everybody! As everybody else, we were let down by Compass massively as we were with them from September 2008 and the contract was for 8 years. In February 2016 we have left only 6 months to pay when all this happened. Then because of the amount of our debts, we were advised to start an IVA procedure, which we did and now we are obligated again for another six years since 2016. I feel that bankruptcy may well be better option for us, except that we would loose our house. Now I will be redundant from July and looks like part of my redundancy pay will be gone to the creditors. Anybody in the similar situation? Any advise?
Thanks in advance.
Maria.

[Amethyst]

Re: Latest Update 24/5 from AABRS for Compass / RMR

I am not sure if this is a common case however I have documentation from Compass stating that debts had been repaid and the money left my compass account however I am now being pursued by the companies for payment as they say they have never seen the money?? Surely this is theft and therefore a criminal matter?

If you have copies of these letters then, depending on who your creditors are, it may be worth an appeal to them. Some of the major lenders are being sympathetic to Compass victims.

If Compass blatantly lied and told you in writing a debt had been repaid when they had just taken your money for themselves, then indeed I would say that is theft. I would get copies of statements from your creditors showing all payments made to them and compare with the information Compass have given you. Sometimes creditors don't have full records, or debts get sold on and payments aren't recorded in the sale docs - so payments may have gone to previous owners of the debt.... worth looking into further first I think.

[Amethyst]

Re: Latest Update 24/5 from AABRS for Compass / RMR

Hello, everybody! As everybody else, we were let down by Compass massively as we were with them from September 2008 and the contract was for 8 years. In February 2016 we have left only 6 months to pay when all this happened. Then because of the amount of our debts, we were advised to start an IVA procedure, which we did and now we are obligated again for another six years since 2016. I feel that bankruptcy may well be better option for us, except that we would loose our house. Now I will be redundant from July and looks like part of my redundancy pay will be gone to the creditors. Anybody in the similar situation? Any advise?
Thanks in advance.
Maria.

Who advised you to go into an IVA ?

If you only had 6 months left your balances should have been massively reduced from where you started. Or was it all based on a savings pot to make F&F settlements ?

[mariuxa]

Re: Latest Update 24/5 from AABRS for Compass / RMR

Compass did advise us to go under IVA about a month before all this happened, in January 2016. Their argument was that because our debt is so big (37,000- long story, this includes an unsecure mortgage part ) and laws have changed, they kindly advise us to get most of our debts written off by government and for this we need to start IVA process. Being very unexperienced in the matter of debt solutions, we did see this advise as a helpful at the beginning. Also Compass said they will refund our pot money back as they weren't able to help us. Very confusing situation and I do strongly believe that it was not the best solution in our situation. But it was better than nothing.

[Unlimited5]

Re: Latest Update 24/5 from AABRS for Compass / RMR

If you have copies of these letters then, depending on who your creditors are, it may be worth an appeal to them. Some of the major lenders are being sympathetic to Compass victims.

If Compass blatantly lied and told you in writing a debt had been repaid when they had just taken your money for themselves, then indeed I would say that is theft. I would get copies of statements from your creditors showing all payments made to them and compare with the information Compass have given you. Sometimes creditors don't have full records, or debts get sold on and payments aren't recorded in the sale docs - so payments may have gone to previous owners of the debt.... worth looking into further first I think.

Thanks for the reply and its probably been said but you have been a rock throughout the process so a BIG thank you for all your help and advice.

I have statments from Compass showing the debts leaving my pot and being paid to various debtors however they have now started to chase me again for these balances.... I have told AABRS but they havent given me a satisfactory reply so I dont really know where to go with it from here..