PROCESSED GANG PART 1

The thing is there are two types of interest. There is prejudgement interest, which was included in the payment, and there is post judgement interest, which is paid on the total amount owed at the time of the decision, that wasn't included on the cheque, at least not according to my paperwork. I think it would be hard for the GoC to argue that the entire class isn't entitled to this money, since post judgement interest is written into the court order, and intended to compensate the entire class for having to wait for the court award, and ensures that they are paid as soon as possible.

Mine goes to may 31st 2012

Thanks teen, at least now we know others, have picked it up.

NEW INFO:

I just spoke to Dan Wallace and he is going to try and break down this situation in plain English for us.

It will take a day or two so please try to put this issue in your back pocket for a bit.

He said there is a 50+ page report from the accountants and 2 pages are dedicated to interest! Deloitte is going over every clients work sheet and if there is mistakes the will correct them. And yes there has been some mistakes and Deloitte promptly corrected them.

So it's like the old days in the military...hurry up and wait. I will stay on top of this and try to get a good explanation (in plain English) for us all.

Para 6. d. of the order should read as follows: 5% interest from June 1st 2012, only for class members that have been reinstated, up until the date they received their first reinstatement Monthly payment. At lest this is my opinion, as to the information provided to me thus far, with regards to what we have been told so far.

Mine is paid until May 31 2012 also...but I waited 17 extra months??? Quite confusing but it still seems like someone owes us either money or a damned good explanation!!
Sap

propat, mine goes to May 31 2012.

yup I agree.

question; does anyone else have post judgment interest applied to their retro for the month of may ore is it just me???

propat

Ok guy's good discussion going on here, that is what I believe also, and that makes perfect sense. If both parties are saying that Para 6. d. of the order is incorrect, than, that part of the order , should be amended.
So I guess the question we should be asking MC is this : Is it possible to get a written explanation as the exact meaning of the amended court order dated Oct 16 2013. " Para 6.d. 5% from May 1, 2012 to the date the amount is paid to MC in trust.

Not trying to give anyone a hard time, but if I am reading it correctly, I think it should be either amended, or taken out.

ya it seems they did do my calculations to may 31st not may 1st.

propat

Here is the info I got from Sisip only zero sum members who are still owed the 4 months wil receive there 4 months owed to them plus 5 percent interest on the 4 months owed all other members were already calculated when they received there payment they said they already calculated from MAY12 2012 up until you received retro payment just passing on what I was told

propat plausible or not that is why I stated SISIP did what they were ordered to do by the courts. I do not nor ever have thought SISIP is trying to screw anyone. All the retro money is being paid by the GoC not Manulife (SISIP) so I don't see any reason for accusations thrown SISIP's way.

This whole issue is on MC to explain so someone has to contact MC and find out the real answer. Like I said they no longer respond to my emails or phone calls.


They are now working to get that 4 months of missed LTD in 2012 with interest in the hands of those who were reinstated by the end of November.

Trooper my retro was given to MC in August and I asked am I entitled to the 5%? The answer was no. Retro percentages only apply up to May 2012 when the GoC decided not to appeal the decision.

It's not fair if only the reinstated get interest , IMO

that's the way I read the court order trooper now keep in mind that should be annual so about 0.4166666% a month. so in total about 7.08% (quick math)

im starting to doubt myself gotta go re read some stuff.

propat

I new it right from the start, the wording of that part of the order, would become a challenge to understand. There are no clear instructions given to clarify it's meaning.