i think their plan on economics alone was always to send court papers to just a few, then march on with sending letters to ALL 3029 that they have done so, and come in the end and offer a nice 10-15% settlement plan for all.
The FCA incident raised the stakes dramatically for the strategy for 2 key reasons.
A. If you are not served court papers by 13Nov - then I think its safe to say you are in the clear.
B. They are suffocating them from any interim cashflows extracted directly from the low hanging fruit of their strategy. They would now have to finance this out of their pockets fully.
C. There is severe risk of reputation damage now - they need to be extra ruthless to pursue the whole strategy: get aa many to settle even if papers were not served.
Where I am actually not yet clear, is where there is any advantage from the FCA incident for those unlucky folks that WOULD actually be served with court papers.
I am not clear on that because the same facts applied to even before the incident.
The FCA incident raised the stakes dramatically for the strategy for 2 key reasons.
A. If you are not served court papers by 13Nov - then I think its safe to say you are in the clear.
B. They are suffocating them from any interim cashflows extracted directly from the low hanging fruit of their strategy. They would now have to finance this out of their pockets fully.
C. There is severe risk of reputation damage now - they need to be extra ruthless to pursue the whole strategy: get aa many to settle even if papers were not served.
Where I am actually not yet clear, is where there is any advantage from the FCA incident for those unlucky folks that WOULD actually be served with court papers.
I am not clear on that because the same facts applied to even before the incident.