Mirasol Letter...

LINK TO ORIGINAL LETTER
https://albanyandmirasol.forumotion.com/albany-group-and-mirasol-communications-f4/letter-from-mirasol-dated-03-02-2010-t12.htm


IMPORTANT NOTICE

I have edited this Blog in light of the comments made below ! Please let me know if I write anything that can be construed as illegal or unethical or even hurtful. This site is for information sharing only and not to defame or cause distress TO ANYONE and that includes current or past employees of Albany or Mirasol, please help in this.

UPDATE: People are now being told by Sarah Morrey that the Mirasol money will be paid, this is the opposite of what Martin Glick is saying.

With regard to the Letter from Sarah Morrey today on behalf of the Directors of Mirasol.

I think from this letter that things are slightly better than some people have been saying i.e the fund has not been plundered.

Mirasol was not as disconnected from Albany as I was lead to believe and I was shocked to hear that :-

1) it is at the Directors discretion whether money can be distributed to members! So what is the motivation to distribute now other than goodwill !

2) This company is registered in Turks and Caiscos Islands ! Why are the telephone numbers in Switzerland???? I thought that this was basically an off-shore Bank Account at RBS.

There is an indication in the letter with regard to Legal Action being stopped, I saw this action going against RBS not Albany. I think this is very sad position to take at this stage.

I should have investigated this more at the beginning , sadly I didn't.

Does anybody know who the Directors of Mirasol are?


LINK TO ORIGINAL LETTER
https://albanyandmirasol.forumotion.com/albany-group-and-mirasol-communications-f4/letter-from-mirasol-dated-03-02-2010-t12.htm

Did anybody receive any communication directly from Mirasol after the letter last week? I have tried contacting Sara....but nothing yet...

I spoke to someone in the UK office today who tells me they are still in the process of setting up the hotline and that it will as said be working this week. Admitedly the number for Sarah is straight to answerphone but I imagine that she cannot work with people calling all the time and IF, which I hope they are, they are trying to extricate themselves then they will need to focus on that rather than answering our calls to tell us they don't have news.

Despite the fear of loosing my funds in Mirasol, I am being patient as I imagine there is plenty going on behind the scenes and if the money is locked by RBS then nothing is going to happen until the administrators are appointed anyway unless RBS unlocks the Mirasol funds, but I guess this is the biggest slice of the cake and RBS is not going to give it back...

So far what has been said (albeit it little) has been done, and the people at Albany Technology in Durban have been very helpful with what they could to assist me.

I wish I could share your optimism Richard. The only rosy scenario I can conjure is that if all was in order and the Mirasol funds were all safely tucked in the RBS vaults, then the essence of fractional reserve banking is that they would provided RBS huge lending power.
And then if the new austere RBS, found it necessary to throw Albany to the dogs for some reason, I venture that they wouldn't be quite as willing to see the associated fund disappear from their balance sheet, otherwise they'd have to recall far more loans than Albany's puny facility. And they'd, of course, know full well that the fund would evaporate the moment Albany, its only guarantor, hit the deck. Finding a reason to conjoin Mirasol and Albany would neatly solve that pesky problem for them.

Of course my theory is almost certainly full of holes, but unfortunately, even if it weren't and the convoluted little scenario bore any resemblance to the facts, I still can't imagine how what I'm owed wouldn't still be effectively lost.