Yes the Supreme Court ruled that when a final distribution was made then the trustee has discharged themselves. I think a few are still having an issue with Mond due to him seeking further legal counsel however, the Supreme Court was his last hope and he lost.

Hi Almost_There.

I'd perhaps be slightly less emphatic than contoboy in answering your question.

The Supreme Court verdict did seem to open up the possibility of another route for a trustee to gather in these funds, but it's a route that most people in the industry doubt will be used much (if at all). And even if it was used, it might not work.

A discharged trustee can only have an interest if a court allows them to.

Thanks!

Should I expect the monies to be sent to me or will banks still send to a trustee? Just trying to understand the process now.

They'll often check with a former trustee first that it's OK to send it to you.

A couple of banks might choose to set it off against an old debt they wrote off as part of a trust deed.

Thanks for the replies!

Found out that any debtor that used mcginnes asc has received there money from mond but still refusing to had any other out

Hi Turbobhoy, how did you find out that money had been paid out?

I was speaking to some one from mcginnes asc so don't know what mond is playing at maybe keeping the the cash till the interest pays his court fees

Trustees don’t get to keep interest paid on client accounts. Not that it would be much, if anything at all.

Looks like back to court we go

Hi, I was informed Mr Mond has been on holiday and is due back today and he will be making a decision on what he is going to do next.

Still no further on with mr mond how long does he have by law to pay out the ppi miney since he lost the case nearly 3 months ago

“Mr Mond”.

He’s just the same as everyone else.

Is mond ready to pay out in 2 weeks time !