Hi Mr. Tan
Thank you very much for helping the CLN victims. Your Blog has been my lifeline for the past few months. I have signed your petition to PM Lee.
I invested $X in Minibond. I have filed my case with FIDREC. Upon mediation, FI offerred 20%. I rejected and went for adjudication. FI then offered 35%. I submitted additional documents.
Later, the FIDREC case manager informed me that the FI offerred 50%, the amount I initially asked for. The final offer of 50% made me shocked, very angry and felt very bullied again. I wanted to go ahead with the adjudication. Can I ask for 100% compensation? Can I accept the compensation, as I already signed the Petition?
It is all right for you to accept the compensation, although you signed the Petition. I suggest that you should ask for compensation of 50% and any balance on maturity (in case the matuirty sum exceeds 50%). Some of the Minibond actually has value more than 50%.
Lesson: It is quite bad for the financial institution to make it so difficult and stressful for the customer to get fair compensation.
- ► 2020 (655)
- ► 2019 (1839)
- ► 2018 (1406)
- ► 2017 (1258)
- ► 2016 (828)
- ► 2015 (691)
- ► 2014 (144)
- ► 2013 (501)
- ► 2012 (1269)
- ► 2011 (1873)
- ► 2010 (2369)
07/26 - 08/02
- Re-build the trust in the integrity and reputation...
- Major US financial regulation initiatives
- TKL Sudoku - Challenging Puzzles
- SCMP:Mainland investors claim HK$500m loss on 'mis...
- The Asian Banker:SFC, HKMA and 16 banks reach agre...
- Travel Picks: Top 10 cities to visit with children...
- FISCA Website
- NYT: In search of competent (and honest) advisers
- Great Eastern Life shows the way
- Great Eastern Announces One-time Redemption Offer ...
- SCMP:Investors set for legal fight over lost milli...
- Features of life insurance policies
- Coops in focus in US healthcare debate
- Aging, inequity and poverty
- Expensive car park in Singapore
- Health care realities
- The Health Debate: At a Fever Pitch
- Permits required to appeal to the public for funds...
- Petition to PM on credit linked note (6)
- Pelosi lashes out against insurance companies
- Promote the use of car sharing
- No parking space in HDB estates
- Online Donation towards Gathering on 22 August
- Waiting for the stockmarket to bottom
- BBC; Car insurance premiums rising
- Are you sure democracy cannot help you financially...
- 50% compensation for Minibond
- Company Y not wanting to pay out my insurance clai...
- Gathering on 22 August at Hong Lim Park (2)
- Books and puzzles
- The Standard:Bank wiped out my $260m
- NJ sues Merrill Lynch over $300 mln stock purchase...
- Work near your home
- For the benefit and welfare of the people
- Honesty in Politics
- What is the future for this country?
- Free market - success and failure
- Reuters: Investors dump brokers to go it alone onl...
- NY Times: Of banks and bonuses
- Lehman victims international/ planning for Sep. 15...
- Why markets can't cure health care
- The Standard:61pc of minibond investors undecided ...
- TODAY:We should follow HK's example ; Protect indi...
- Honesty and fairness
- SCMP:Monetary Authority director clarifies minibon...
- Advice on individual shares
- Pensioner Health Benefits
- Interest rate on 25 July 2009
- Winners of Intelligence Quiz and Name The Shape co...
- ▼ 07/26 - 08/02 (49)
- ► 2008 (2104)
- ► 2007 (1803)
- ► 2006 (696)
- ► 2005 (159)