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Hello All
"Notice of move from administration case to Creditors Voluntary liquidation". Audley funding has invested 75 million into NQ Minerals. This is been treated as an unsecured loan ? . There does not seem to be a favorable outcome for Audley Funding investors.
own by the same guy (Walter Doyle)
In fact their office is on the same building, different floor.
What I heard IG Mining also run into some problems lately.
FYI : The more you google those names, the more interesting information you will find.
is there a link between NQ Minerals and IGmining?
Lads,
I just got a response from Begbies, and their ambiguous response, as well as their failure to address the issue I raised MULTIPLE TIMES, got me thinking.
There are only 2 ways to get our money back.
1. Regulators. If regulators step in now, then they launch a full investigation. We may have a chance.
2. Lawyer. Hire a professional lawyer to assist with our case, and request a full investigation as part of the legal action.
The fact that Begbies Traynor insists on getting the asset sold first, then investigation will come later, makes me question the true motive behind it.
a. Will Begbies Traynor be willing to help us until we all get our money back, even if the new asset owner is from a different jurisdiction?
b. Or perhaps Begbies will stop responding to our queries because the job is finished (afterall the asset already sold) !
What announcement by audley ? I never received any information from audley !!
At the moment we represent quite significant numbers of bondholders.
Please let me know if you want to join.
My email address is jojohanes2021@gmail.com
I have contacted Nq Minerals directly in relation to Audley funding bond GB00BDCJX280 which I have invested in.
As I am not a direct investor of the company In Administration, Nq Minerals are not in a position to correspond with me.
Audley funding just send out a announcement to keep us quiet and the financial institution I used to invest the money, Cornhill Capital, Jarvis, inform me that they are a execution only provider. What can be done when those that invested the money want to wash their hands now????????.
Lads,
I’m not sure if you are covered by FSCS, but I managed to get compensation from FSCS. However, you need to be able to prove that the investment recommended b ty your advisor is not appropriate for you and that you have contacted Action Fraud, regulators, and Begbies (and their lawyers too).
@missthatcher
Begbies responded to my email, and they were generally very helpful. They requested that I inform them of the situation, and they would do their best to help the creditors and shareholders.
They also encouraged me to cc the regulators on all email correspondence because there is an ongoing investigation.
Perhaps you can share your issue with them too, so both begbies and regulators can assist.
If you want to email them, you will need to email Begbies, and regulators, and Begbies's lawyer too for all the emails and reporting you made.
See below :
Paul.Cooper@btguk.com
paul.appleton@btguk.com
adam.shama@btguk.com
as-team@btguk.com
CC:
STEPHENSON HARWOOD (Begbies's lawyer)
julian.cahn@shlegal.com
jamie.stranger@shlegal.com
Rubin.Weston@shlegal.com
stuart.frith@shlegal.com
Nick.Axup@shlegal.com
Ian.Benjamin@shlegal.com
Katherine.Hudson@shlegal.com
REGULATORS
MakeAReport@sfo.gov.uk,
intel@sfo.gov.uk,
Public.Enquiries@sfo.gov.uk,
MIUMailbox@fca.org.uk
Consumer.Queries@fca.org.uk
Is there anyone know, what we should do now?
My financial advisor keeps telling me to stay put because Mr. Bernie Walsh told him that bondholders only have to wait and that we'll get my money back once the asset is sold.
He's never been able to explain to me how I'll get my money once the asset is sold. After the bank is first in line, and if there is anything left over, it will be passed on.
I'm getting very worried about the waiting.
This is latest uodate report from Begbies Traynor
Investigations
• Correspondence with the Company’s IT providers with regard to accessing data.
• Analysing the Company’s financial records and bank statements in order to establish the reasons for the
Company’s financial position.
• Dealing with creditor concerns regarding the following:
o the level of accumulated debt set against the levels of investment;
o Performance of the underlying subsidiaries;
o The fact that investment was being secured as late as early 2021;
o The manner in which investment was secured either by loan notes, equity or underlying bonds;
o Alleged mis selling of convertible loan notes under the guise of secured bonds;
o Alleged voting issues at Audley Funding plc level;
o The levels of related party loans; and
o A review of alleged accounting issues. In particular, the classification of commissions as
administration expenses.
• Securing and analysing Company data including email accounts.
• Reporting to the Insolvency Service on the Directors’ conduct and subsequent correspondence regarding
the same.
• Liaising with the FCA regarding ongoing investigations.
url is : wwwDOTfacebookDOTcomSLASHgroupsSLASH500058791795764
DOT = .
SLASH = /
There are a few of us now in the group, so for those of you who are interested in getting your money back from these scammers.
Feel free to join us in our Facebook group : https://www.********************500058791795764
Alternatively, you can contact me via email at jojohanes2021@gmail.com.
Hi Johanes, thanks for directing us here last week. I think many may find this difficult to find as its not specifically London stock exchange's site but London South East's. I emailed you too but from your initial message on this group, it was an incorrect email. I'm wondering how best we can get all the other note holders on here too. Any ideas?
i think besides nq, i wonder where is bedfordrow hiding. every other bond they issued defaulted
Other defaulted bonds by Bedford row capital and Truva Trustee.
https://www.bloomberg.com/news/articles/2022-01-14/green-debt-faces-rare-default-from-bonds-bedford-row-helped-sell
First of all absolutely amazed that there is no fraud investigation into this company, either in UK or Australia. I had shares in it. Am I right in saying I have zero chance of getting any money back ? Hope whoever can can get these gyys debarred from holding office and hopefully prosecuted
https://forms.gle/tEEzZzJikm9NscTDA
G'day ladies and gentlemen,
Please fill out this google form in order to request a Audley Funding noteholders' meeting with the trustee.
Our goal is to reach a total of USD 10 million (or currency equivalent)
The total amount of notes issued by Audley Funding is around USD 100 million in three different currencies.
Ref : https://investegate.co.uk/audley-funding-plc--irsh-/rns/audley-funding-plc-trustee-announcement/202112020851513587U/
Trust deed : https://drive.google.com/file/d/17oct05m73AdoLXNw1djMkQAdc9_BIHKr/view?usp=sharing
Trustee’s response for meeting : https://drive.google.com/file/d/1pyMv-_k2g_RMHuj8Z-xlPsbvqlOsZIYb/view?usp=sharing
Thank you
@bugerov,
The didn't mute the microphone, so you can hear everyone is talking . Interestingly Begbies wasn't even attend the meeting.
It's adjourned due to attendance issue.
“a written request by Noteholders holding Notes of at least ten per cent of the principal amount of the Notes for the time being outstanding of any Series”. -- Trust deed page 94-95 (schedule 3 paragraph 4)
Trust deed : https://drive.google.com/file/d/15p5U-feJIugLWuHkBv7RykNHCEzlre62/view?usp=drivesdk
Afternoon/evening Johanes. For various reasons I was unable to join in the meeting today. In what way was it chaos and why adjourned? Is this another adjournment to magically 'find' 98% of positive votes for the motions they put forward.
Regards....... Bugerov.
For those who managed to attend NQ Minerals online meeting today (18th March 2022, at 11.00 GMT).
My email address is : jojohanes2021@gmail.com (not jojohanes@gmail.com).
thank you
Meeting adjourned till April, and the online meeting just now was a total chaos .
If you're a bondholder , please reach out to me. There's a few of us now in the group to discuss what's the steps moving forward.
my email address : jojohanes2021@gmail.com
thank you
Hi all.
Notice to noteholders on 25 Feb 2022. Online meeting on 18 March 2022 to vote on notice. Does anyone know what it is all about?
regards Pat