Monday, September 07, 2009

A good compensation for Minibond

Hello Mr Tan
I invested a small sum of Lehman Minibond with a bank. After negotiation with FIDREC, tbe bank offered 50% less 50% of interest paid to me, and I get to keep my shareholding. Please advice if I should just accept since my is a small amount.

REPLY
If the bank is willing to allow you to keep the Minibond and to receive the future proceeds at maturity, it is a good deal for you. You should accept it.
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8 comments:

Anonymous said...

Your 50% compensation is fair and what I wish to get. But mine was only about 25% less interest paid from the bank. I accepted and decided to move on. I know I don't have much money & energy to fight for something too huge for me to handle.

September 07, 2009 8:45 AM
Anonymous said...

The problem with Fidrec is the limit is only $50,000 though some FI's have made some wiaved the limit.

September 07, 2009 9:09 AM
Anonymous said...

Payment of 50% is likely for small sum invested. For higher amount the compensation is much lesser.

September 07, 2009 10:44 AM
Anonymous said...

Yiu are damn lucky that is all I can say

September 07, 2009 11:03 AM
Anonymous said...

Many bought from sec firms still get nothing.
The same products were advertised in all local newspapers. Why such discrepancies??

Esp those bought from advisers employed by these sec firms hiding behind other firms. So unfair.
Feel angry & bad.

September 07, 2009 11:16 AM
Anonymous said...

Mr Tan,
Any news yet on meeting with either PM or MAS?

September 07, 2009 3:15 PM
Anonymous said...

Can more people who had resolve their Mini Bond matter thru FIDREC comment on how satisfy they are with their compensation?

So more people will get a clearer idea whether FIDREC really helps investors on this Mini Bond issue.

Thanks.

September 07, 2009 4:30 PM
Anonymous said...

Can poster of message share what offer did he received from the bank in the orginal offer after his bank complaint? Is the Fidrec offer same or better than the original bank offer?

I have not come across anyone that receive a better offer after FIDrec, ie. either a rejection stays as rejection or the orginal offer stays. Thanks

September 07, 2009 10:30 PM

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