Old Roaring Forties Windup and Distribution?

[Trevor Booth]

Ron,
I was not thinking that implication, however from reading all the posts it does seem to have been rather sloppily handled and I don't doubt that you are concerned.
I can get somebody FOC on the case if needed
Trevor

 

[Ron Earp]

Thanks Trevor, much appreciated about the offer. We might be able to sort of figure things out on the forum. For example, I know I lost $37,000 and I'll know what comes back into my account, so I can calculate a percentage on those facts. The rest could do the same and we can compare the percentages pretty easily. If the percentages aren't the same then we know something has gone amiss.

 

Sent my bank info in. Let's see what happens.

 

[Charlie M]

I sent my bank info in yesterday. Maybe I'll get enough cash back to buy a beer to celebrate.

Charlie

 

I was beginning to get nervous because I had not had any confirmation that the administrator CJL had received my Proof of Debt forms sent last March and 'colleagues' were getting e-mails for bank details. So I've just phoned them - they did have the document but had not e-mailed me for whatever reason. They are now e-mailing me for my bank details.

So anyone who has not heard should do the same and it seems the e-mails are genuine requests - however I shall fax them my reply direct.

regards

Roger Allen

 

More info on the old RF wind up -

I called the RF administrators today as I had not received any communication from them since (once again) sending in my Proof of Debt claim last March. I just wanted to make sure I was still on the list and hadn't slipped through the cracks!

I was told that e-mails were only being sent to overseas Creditors as they were going to be paid by Electronic Funds Transfer and therefore their Banking details were required.

Australian Creditors were not being contacted as they would be receiving a cheque in the mail.

I was also pleasantly surprised to learn that a dividend of 11c in the dollar had been declared - I must admit that I had been prepared for a much lower figure.

(I'm not sure how this will relate to overseas Creditors with respect to exchange rates at the time of debt etc)

Settlement is planned to take place "within the next couple of weeks"

 

[BruceB]

This is why I started the post because in all previous dealings I always seemed to be one of the last to receive any correspondence because it was always sent by post.

In this case they only seem to have sent out the request for details by e-mail and I was a bit suspicious as nobody else had posted on this subject.

 

[Ron Earp]

I was also pleasantly surprised to learn that a dividend of 11c in the dollar had been declared - I must admit that I had been prepared for a much lower figure.

0.11c on the dollar? Seriously, wow, that is fairly significant really. I was expecting about 0.01-0.02c on the dollar.

Happy day! (Relatively speaking, given the circumstances).

 

[Alex Hirsbrunner]

You may want to check your bank accounts now.

Regards,

Al H.

 

[Ron Earp]

Checked mine, nothing there that I didn't put there on my own....

 

[Alex Hirsbrunner]

In my account today:

07/07/2008 FED WIRE CREDIT VIA: XXXXXXBANK/XXXXXXXXX B/O: ACN XXX XXX XXX (FORMERLY KNOWLEVEL 3 180 FLINDERS LANE REF: XXXX NYC/CTR/BNF=XXXX XXXXXXXXX/AC-XXXXXXXXX RFB=O/B XXXXXXXX NYC OBI=ROARING FORTIES F +IMAD: XXXXXXXXXXXXX TRN: XXXXXXXXXX

My bank was kind enough to charge me $15 for the privilege of depositing this into my account

Slightly more than the 11 cents on the dollar that was previously mentioned.

Al

 

[Charlie M]

Showed up in my account today also. It wasn't much but it was more than I expected.

I'm glad this is finally over with.

Charlie

 

[Pete McCluskey.]

Good to see that you guys are getting at least something back. Not much, but more than I thought would be available.

 

[Huw Peplow]

Mine has arrived in the uk at 13 cents in the dollar if my conversion is correct .Not a lot but only claimed for the price of parts missing from the kit .Glad to hear all of you who were totally robbed are getting some thing back

 

[Ron Earp]

Nothing in my account, which actually doesn't surprise me a bit. I suppose I'll send a few emails around.

 

[Bill D]

Can you write off the loss on your tax returns?

 

[Mitch D]

Received my dividend payment today in the form of a check - not a wire transfer. Check was dated 04-Jul-2008 so it appears payments occurred starting last week.

Mitch

 

[BruceB]

Money transfered to bank account but only seem to have got about 7 or 9 cent to the dollar depending when the rate was calculated (on todays rate or when the loss took place).
Has anyone received any written information as to how this was calculated and what date was used.

 

[Dutton]

Bruce,
The email I received reads, in part "... I note that the provisions of Section 554C of the Corporations Act 2001, your claim is converted to the equivalent in Australian currency at the rate in existence at the date of our appointment. As such, your dividend is calculated on the value of your Australian dollar denominated claim." Signed by Peter Gountzos of CJL Partners

Mitch,
Good to see a post with your name attached!

 

[BruceB]

Thought as much :cry:
Now that there is finally a dividend, to get caught a second time because of exchange rates is not nice. :veryangry:
I suppose I should be grateful as I had only started to make payments on the car and so my loss is only minor compared to others here on the forum.