G'day MG,
So far the SR Thread did not pinpoint with absolute accuracy as to the Source of Recovered or otherwise Funds from which we may be reimbursed.
My digging has produced this trail:
On 11/02/2019 4:42 pm, xxxx wrote:Dear SR,
I received your offer through a friend of mine in Western Australia.
Unfortunately, I became aware of this recovery operation after 4 February and was on a trip
only returning today.
As the Registration is set for 15th Feb, would you be able to provide me with further explanation
of the offer that may assist me and my friends with the decision to join in the recovery action.
Please inform me of the following:
1. Has SR Group identified a source of $funds which will be targeted for Recovery?
If yes, what are these $sources from which the recovery will be effected and enforced?I look forward to your Reply.
Sincerely, PIF class action ref: NSD324/2009
------------------------------------------------------------On 12/02/2019 8:50 am, SR Group Info wrote: Hi xxxxOur proposal outlines in detail our proposed actions and fee structure for victims of MFS - Octaviar. The FAQ’s should address any queries you have mentioned. The source of funds targeted is coming from the government and is in the proposal scope of works. No recovery agreements will vary from this proposal. You can register in the following ways:MFS - Octaviar Group Registration Form via this link.
Visit srgroup.com.au and click on the MFS - Octaviar Group Registration.Call our team on (02) 9053 0062 and we can assist you to register.
Warm regards Penny -----------------------------------------------------------------
On 13/02/2019 11:14 am, xxxx wrote:
Thank you Penny for this prompt reply and very useful links.Just one important question left:
As understood from info provided, the recovery funds source may be an approach to Finance Department for access to CDDA scheme which is predicated on "discretionary" basis. [https://www.finance.gov.au/resource.../cdda-scheme/information-for-applicants-cdda/ ]
I assume that that approach may be made in the wake of Banking Royal Commission and the determinations made there.
SR indicates a time frame of some 4 months over which it collects some $2,000 in fees per member. Is SR proposing a Cut Off date for Finance Department CDDA response/s for SR Applications and are the5 instalments totalling $2,000 over 4 months the maximum a member may lose in the event of "unsuccessful" action?
Please clarify ASAP.
--------------------------------------------------Your message
To: SR Group Info
Subject: Re: SR group offer to MFS/OCTAVIAR members
Sent: Wednesday, February 13, 2019 11:14:25 AM (UTC+10:00) Canberra, Melbourne, Sydney
was read on Wednesday, February 13, 2019 11:12:45 AM (UTC+10:00) Canberra, Melbourne, Sydney.-------------------------------------
SR have not responded to the specific question on the source of funds,
and the Sent/Read times are at odds as seen in above pasting.
May be a small tech-glitch, but the delay in providing a straight answer beyond
"...
The source of funds targeted is coming from the government and is in the proposal
scope of works.. " raises credibility doubts.
But that's me; the reply may yet arrive tomorrow before 5 PM.
Will duly post it.
And BTW, some 300 signees @ $2,000 appr. = $600,000 hefty return on a miniscule administrative effort.
Cheers,
