Things about to get very serious and much more real? / Felicitas Letters

[MrO666]

Interesting.......

So whilst this will be unlikely to apply in all cases, what it will probably do is make any potential "purchaser" of an alleged loan book think twice, which I suspect in a majority of cases will be all that's needed.

The argument about the original trustees selling off the "assets" being in the best interests of the trust members was brought up years ago when the whole Felicitas debacle started, and at last it seems like this train of thought is starting to prevail, and in this specific case been tested in court.

I very much think it's the end game now for this sort of thing, as anyone trying to claim repayment of alleged loans now knows that they're going to need to prove the validity in court, which is going to be very risky not to mention expensive. Even if the paperwork trail was perfect (which it isn't for any scheme), they now have a second hurdle of trying to prove that the trustee selling a trust asset, knowing that the alleged loans would then be called in , was in the best interests of the members..............

[eek]

Interesting.......

....they now have a second hurdle of trying to prove that the trustee selling a trust asset, knowing that the alleged loans would then be called in , was in the best interests of the members..............

Going back to a point I made a very long time ago

That depends on whether the current members of the trust are the same of those who originally benefited from the loans...

Note - this was more me highlighting a potential issue than pointing at an actual issue...