London Capital Finance Update 9th March

By J Drew -
The latest update from LCF has come from the administrators with an interview on BBC Moneybox today.

Presenter Paul Lewis spoke to Finbarr O'Connell from Smith & Williamson who confirmed that he expected that recovery may be as low as 20% of the money invested in the bonds so if you invested £10,000 you would only get £2000 back. This will come as a shock to bondholders who have attacked posts on this blog as scaremongering. Sadly it appears that they were reality all along.

The other incredible piece of information revealed in a separate interview with Finbarr was that NONE of the borrowers were cash generating businesses. This is exactly what I had highlighted back in January 2019 so it's reassuring to be proved right on this too.

You can listen to the interview and the Moneybox piece on LCF here

https://www.bbc.co.uk/programmes/m00035h0

There is also a news story on the main BBC website so it looks like there is finally traction on getting this story recognised.

 https://www.bbc.co.uk/news/uk-england-47454328

Update from bondholder's group chat with Finbarr, 8th March

London Capital Finance Update 9th March
London Capital Finance Update 9th March

Comments

  1. Anonymous11 March 2019 at 10:35

    Hi,

    Thanks for update. From what I can understand Surge is not going to give back the £60m it has received from LCF as so called 'commission', are they going to get away this?!

    The law in this land is s###!

    ReplyDelete

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