I have a significant claim for loss in the Wivenhoe case through IMF's indirect funding .
The litigators have at this stage not even made rudimentary steps towards claimants quantifying claims.
So when liability or not is established at court in 2018, the processing of claims will only begin to take "some time" after that.
I believe early settlement in 2019 is optimistic.
Though doubtless once a favourable judgement is obtained, IMF will be pressurised to seek prompt settlement of claims, in the interest of their own liquidity.
This will be no easy task, as no clear indications are given as yet to the gauge of the extent of losses. Will they be relying on quantification in 2019 of losses uncured in 2011? What or which inter-mediators are to be relied on? The claims will be across a spectrum of losses from complete wrecks of houses, flats, offices blocks & other fixed property, to minor repairs, including complete loss of household goods, to minor damage.
Eight or nine years after the fact! This will entail some major thumb sucking?
I do hope that a CPI + or current cost adjustment is made to claims too, so as to obviate any potential for purposeful filibustering or stonewalling by the defence. The CPI adjustment would be about 30% plus, which adjustment alone, is the ballpark IMF fee.
A CPI + is not a practice I am aware of, in prior IMF awards. So I still anticipate a major loss. In fact mentally I have long since prepared myself by assuming I will receive no compensation, whatsoever, from these litigations.
If the ANZ case is a benchmark for uncertainty, against the records of a major bank, in that case, then how on earth will a quantification be made, were virtually no records exist at all? My inventory is a photo shoot mud-piled stack of household goods stacked 12 feet high across my pavement, 5 hours before the army bulldozed all my life long goods away.
Four months later the building was bull-dozed away too!
How will they hope to value that?
The bottom line to my claim form stands open.
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