Quote Originally Posted by malreid View Post
Defined as December 4th 2023 later in the document.

While I don't agree with the way LC are handling this or the lack of communications or not prompting for acceptance around changes to T&C's (for want of better words), this is the way that the legal's have been written from day one. As far as I can see LC have complied with them. Whether or not they could have done/should do better, and obviously the answer is yes, we've all had access to the legal's. If we weren't comfortable with what those documents 'allow', why did we invest?

Investment risk is not just limited to returns, we also take on board the risk of transparency, professionalism et al of a provider not being up to the standard that we might expect. Providers who go no further than the absolute letter of the law, which from my layman's perspective is what I see happening here, are unfortunately acting within their rights. Whether or not we agree with it, whether or not it's fair or arguable just and right, very debatable for sure. But the law and regulations only exist to set a baseline for the lowest common denominator of behavior.

Yeah we're all a bit p'd off with this but I really don't see the need for or advantage in some of the off the cuff and apparently quite quick fire comments I'm seeing here. Venting may feel therapeutic, but it's rarely constructive.

That'll be $0.02 thanks.



Hi Malreid,

that was a real good and constructive statement by all the lately un-good happenings with LC and I thank you for that a lot.

As a foreigner in NZ previously being busy in other fields around the world I'm not a (Kiwi) finance legal specialist. As you mentioned things are right on the edge of legality or probably just not...who knows. Me personally I cant judge on that precisely but it smells badly based on previous investor agreements and their practice of quiet change. Since a while I said they're not investor friendly at all and it is obvious and visible as they demonstrate it.
So that still is a big concern.

At least I got my pending funds for the week paid today. I'm glad for that where others said last week here they haven't.

More of those constructive posts would be very helpful in order to keep those current stressful emotions down.


thanks a lot,
with best regards,
Mike