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joebloggs

Just a heads up for those who are already making claims against Alpha.....

Legal advice I have received is that the winding up action is like cutting off Alpha's head before the existing claimants have a completed claim... i.e. Once they're wound up, you cant use the claim you started to get anything out of Alpha and any money youve spent in making the claim against them is wasted. 

Instead, you would have to join the winding up action and hopefully get your tiny % of the total recovered by the liquidator, which will be sod all because it's all been spent on development/running costs. If you've already got  a completed/successful claim against Alpha, the liquidator will probably include you but you still wont get legal costs or interest back.

Seeing as Alpha seem intent to continue running the company, it seems foolhardy to wind them up now and get back very little.

In short, this winding up action is screwing up the chances for anyone who's making a claim... Including me..Thanks!

Speak to any solicitors firm that's not involved in the winding up and ask them (they won't be biased because they're not earning money from your business)! It'll only take a few minutes of your time !

Serge

Re: ##### FOR EVERYONE CURRENTLY MAKING A CLAIM AGAINST ALPHA ######
« Reply #1 on: April 30, 2015, 06:52:41 pm »
Now that I think about it, you raise a good point -- having the judgment forces Alpha to cough up the amount so judged, whereas the winding-up petition distributes a percentage of what's actually realized from the company's assets. The only difference being that the winding-up petition forces it to happen, whereas Alpha can ignore a judgment to a certain extent. I'll get back with Small Claims Solicitors (the company I'm working with) to see what they say about it.

Jake, can we get a health check on the petition? I think Joe might be on to something here.

E: Not to mention which, Jake, you still haven't responded to my email w/r/t putting down the value in USD so that we don't get screwed on the exchange rate. Both SCS and Fieldfisher say it can be done.
« Last Edit: April 30, 2015, 06:54:29 pm by Serge »

hache

Re: ##### FOR EVERYONE CURRENTLY MAKING A CLAIM AGAINST ALPHA ######
« Reply #2 on: May 01, 2015, 09:02:20 am »
Well that's really crappy... I want my  money back and I have spent a fortune in this shit... I hope the liquidation doesn't come too early. Could you guys please wait a bit with the wind up?

joebloggs

Re: ##### FOR EVERYONE CURRENTLY MAKING A CLAIM AGAINST ALPHA ######
« Reply #3 on: May 01, 2015, 09:38:53 am »
...and to top it all off, winding up a company is typcially quicker than making a claim against them in court .

So, yeah, we're really screwed now.

And to think.....I was really looking forward to getting my money back with 8% interest (IIRC). FFS

Sanj

Re: ##### FOR EVERYONE CURRENTLY MAKING A CLAIM AGAINST ALPHA ######
« Reply #4 on: May 09, 2015, 02:03:54 pm »
so now theres no point in filing a claim since this winding up is going to happen first? i'm i just wasting my money?

fightalpha

Re: ##### FOR EVERYONE CURRENTLY MAKING A CLAIM AGAINST ALPHA ######
« Reply #5 on: May 10, 2015, 09:42:37 am »
FYI: I haven't started the winding up action yet; but I know for a fact there's another person who is starting up a winding up petition independent of mine.

I'm still weighing the pros/cons here. Thanks for weighing in guys.
IF YOU WON a judgement, join us in this thread:
http://fightalpha.net/index.php?topic=143.0

joebloggs

Re: ##### FOR EVERYONE CURRENTLY MAKING A CLAIM AGAINST ALPHA ######
« Reply #6 on: May 11, 2015, 08:42:04 am »
@Sanj - There are now 2 'factions' it seems, trying to get their money back in different ways. Essentially, it's a race to get your claim done before the others complete a winding up order. I personally believe I am better off making a claim because I think I'll get more of my money back (I should get all of it, plus fee's and interest), unless a winding up order goes into effect in the meantime which would mean that the money I spent on the claim will be wasted (and in my case it's not the Small Claims process, so it's cost me significantly more to make the claim). I may also be in the situation where I have a successful claim but Alpha hasn't paid yet. If the winding up action occurs in that situation I have still lost the fee's & interest of the claim and would have no choice but to jump on the 'winding up bandwagon' by contacting the liquidator.

Putting my own claim process to the side for a moment, I believe that Alpha are pushing through their 'hard times' and still want to succeed in their business. I don't beleive that winding them up is in anyone heres interest. If they are allowed to 'push through' these hard times then everyone who wants a refund should get one, eventually.  If you're making a claim, then you're elligible for interest from the date that you officially requested your refund. i.e. the date of the official letter you send at the start of the claim process.

From my perspecitve therefore, I am not too concerned when I get my money back (within reason) because it'll be gaining significant interest all the time it's still unpaid.

hache

Re: ##### FOR EVERYONE CURRENTLY MAKING A CLAIM AGAINST ALPHA ######
« Reply #7 on: July 16, 2017, 03:00:41 pm »
Well, so what's the situation guys? I won my claim aged ago, still haven't seen a penny, scs law says there's no way now to enforce the payment... Anyone ideas?