RF Dividend?

Ben Buchsieb · 03-04-08, 03:59 PM

All,

I received an email from a Emma Johnston. The attachment makes mention of Richard Cauchi of CJL Partners and how he is requesting information so I can get a dividend from our RF fiasco years ago. I do remember CJL and Cauchi being involved with the liquidation.

Is this legitimate? Last I heard, there was no money for unsecured creditors. I don't want to spend time on this if it is only paper shuffling.

Anyone else got one?

Thank you,
Ben

Ron Earp · 03-04-08, 04:03 PM

Hi Ben,

I didn't get any communication but I always found I was "left out" of many of the offical communications from CJL etc. I'd like to write them about it, please send me Emma's email address if you would.

Curious though - Richard had 100% information from all of us years ago. Email, addresses, amount of money lost, even the RF chassis number assigned to each of us. Odd that Emma doesn't have all of that information if she is performing this function for CJL or the liquidators.

Ron

Mitch D · 03-08-08, 04:43 PM

Ron - I received the latest correspondence and request for info on 6-Mar-08. Quick receipt considering it was mailed (airmail) from AUS on 3-Mar-08. The latest letter from Richard Cauchi mentions "I confirm that I have now realised sufficient assets in order to declare a first and final dividend to unsecured creditors of the company...." The dividend is to be paid 16-Apr-08.

This latest letter contains a form 548 (Formal proof of debt or claim) and it also requests we provide (again?!?!) "Formal Proof of Debt or Claim (General Form), together with supporting documentation substantiating your claim. I filled out the new form 548 and simply re-sent the orignal documents sent nearly two years ago.

My expectation was zero recovery. However, now I'm guessing we'll get pennies on the dollar. Who knows, the letter did not indicate amount.

Ron - please feel free to contact me directly. I can send you the latest correspondence if you'd like.

Mitch

Charlie M · 03-08-08, 08:42 PM

I received the same letter. I plan to respond. What's there to lose other than the cost of postage?

Charlie

Roger Allen · 03-09-08, 05:36 PM

I got the letter too, seems strange we have go through the claim process again but I guess they have to check we are all still on the planet. I'll reply and see if we get a few pennies out of it.

My RCR build is going great and is proving to be a fun experience - just wish I could spend more hours in the garage. Should have gone to RCR in the first place!

best regards

Roger Allen

Ben Buchsieb · 05-09-08, 08:44 AM

Did anyone get that dividend yet?

Ron Earp · 05-09-08, 09:05 AM

Nope, no word here.

Malcolm · 05-09-08, 12:08 PM

This may be normal practice in these circumstances. I suffered a loss via a bust company (in the UK) and had to fill out a claim form at the time and now they are at the point of saying no dividend, I have to do the claim form again.

I wonder if the reason for that is because should enough claimants disappear the fixed amount of money to be distributed could be distributed between less people?