On the positive side - I was pleased to see Brent Penfold elected to the Committee of creditors. He has been tireless over the past week in ensuring retail clients have a voice ( Im sure he will keep interested partys up to date on what is going on). Also noted a Mathew Cottrel (maybe spelled wrong) who is a client of Etrade also elected to the board. If anybody knows Mathew, or if he happens to read this, it would be good if he could make himself known to the HC community on this forum.
On the negative side it looks like nothing really is certain and it will be unlikely that we see any return of funds for at least the next 3-4 months.
As far as being a creditor rather than a client, this only relates to any outstanding client funds once client funds have been distributed. Does look atm like we will get at least 30% maybe 50% if not more back as clients then we will have to try and claim the rest as creditors. All depends on those bloody yanks paying up.
Was amazed to find Aus funds so tightly linked to MFUK don't really understand the process there.
On the positive side - I was pleased to see Brent Penfold...
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