Whilst I am a new member on this forum I have been following it with interest over the last number of weeks as both myself and my father have invested in the tenth and eleventh investment funds we would both be prepared to be involved in any group action as this would appear to be the only way any of us are going to get straight answers from IFF .
Got it and relied thanksI sent a private message via this forum to five other members who have expressed concerns. No response so far, but maybe we can get something going yet???
In the meantime, FYI, the IFS Admin is back from leave. siobhanATifsamDOTie
I sent a private message via this forum to five other members who have expressed concerns. No response so far, but maybe we can get something going yet???
In the meantime, FYI, the IFS Admin is back from leave. siobhanATifsamDOTie
I asked my own accountant to look at their accounts and he has told me not to worry. The accounts are audited by Deloittes and the assets exist. It is only a question of timing. However, he did say it was difficult to identify what the final return was going to be. He expressed concern that the liquidator of three previous funds, (the second, the third and the Forestry Investment Plan Plc) has not filed any returns at the companies registration office. He said that the liquidator has failed to file at least 7 annual returns in respect of the three companies. No final returns have been filed which makes it difficult to determine what past returns the shareholders actually got. He advised me that there might be an issue with the ( tax free) status of the funds, as some of the funds have received deposit income: I.e. The returns to sHare holders might not be 100% tax free.
Hi folks,
I asked for an update from Ms, McCarthy on Friday, it's set out below. Here's hoping.
"The sales process is moving along well and as per the update letter issued approximately 6 weeks ago, a preferred bidder has been selected and they were given until the end of September to revert with a final bid and terms sheet.
The directors are now in receipt of the final bid and terms sheet from the preferred bidder and are in the process of evaluating the terms of the sale agreement before making a final decision. They expect to have a letter issued to shareholders within the next few weeks to update shareholders as to the decision made"
Fair point jodeal, you would think that considering how long it's taken to get to this stage that the director's would know the approximate bid that would allow them to accept it without any delay, or maybe as you say it's another delaying tactic.
If we just got our money back at this stage, I think most investors would be happy. Certainly not a scheme I'll be getting involved in again.
I still feel constant and regular enquiries to company by us will let them know that we are not going away and that their responsibilty is to us the shareholder and not any "face saving exercise" on their behalf.
Good luck and here's hoping this saga comes to an end shortly...............
Hi AllWell said Lesh37
Yep they should give up on the "face saving experience", and give us our money back now.
Some years back when they were promising 7% return per year, I actually recommended to my brother to buy into this fund. Thanksfully he did not, I would feel pretty guilty today, if he also had money with this crowd...
I agree we should keep chasing these people for our money, posting to this forum (I am sure they are also looking at our posts), phoning them, and mailing them.
Thanks, you would hope that they have finally accepted the offer from their "preferred bidder", but like most here I'll remain just slightly hopeful that the news will be good and that the wait is coming to an end.