Bob’s Weekly Update

Dear Bondholders,

Claims via the FSCS and FOS

On our website, and in email replies to Bondholders, we have cautioned that it is our view that no claim for compensation can be made successfully before a loss in our investments is crystallised. This has not yet happened, and providing the ongoing reconstruction of the ARM fund is successful I would anticipate that this event will not occur.  This is not a view shared by all investors, and some lawyers, and it is, of course, for each individual Bondholder to decide what they perceive as the best route for themselves.

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Bobs Weekly Update

Dear Bondholders,

TRANCHES 9-11

Over the last week something like 40% of the emails we have received have mentioned tranches 9-11 in some way. Many correspondents are very worried about their positions so, although I have written on this subject in the past, I thought it was time to return to it once again.

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‘GARDENING LEAVE COMES TO AN END’

We, the ARM Steering Committee make it our business to follow closely the activities of those who we believe have played a major role in damaging our fund. As Margaret Cole finally takes up her new position at Price Waterhouse Cooper, she wasted no time in resuming an apparent appetite for making the news.

At the end of last week, it was reported that Margaret Cole (of the ‘TOXIC SLS Bond’ fame) has just received a Law Degree from the College of Law. For all those who thought this eminent lawyer already had a law degree, she does, obtained from the same college in 1983 that has just awarded this Honorary Degree.

All this sounds very confusing, but then we are dealing with Margaret Cole who ARM bondholders know excels at confusion.

Brian Love. 11/12.

Bob’s Weekly Update

Dear Bondholders,

That RNS!  (With apologies to those readers who dislike technical terms)

Many of you will know of the maxim that A camel is a horse designed by a committee and this weeks RNS does rather support that view. If it had been written by me it would have contained an apology to Bondholders for the delay in supplying an update, and thanking them for their patience, but that is just my view on the way such things should be done.

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PRESS COVERAGE OF SALE OF ARM POLICIES

Suspended ARM fund strikes deal to sell assets
Life settlement portfolio to be sold to Irish firm, but investor impact still unknown.
By Nick Reeve | Published Nov 15, 2012 | FTAdviser

Apollo reveals pay, fund details in new IPO filing
By Paritosh Bansal | REUTERS
NEW YORK | Fri Feb 18, 2011 11:10pm EST
(Reuters) – Private equity firm Apollo Global Management said it held initial closings on two new funds this year and revealed fresh compensation and operational details, a new regulatory filing showed on Friday.

Life settlement sale could reduce FSCS call on advisers
15 November 2012 10:58 am | By Natalie Holt | MoneyMarketing

Troubled Luxemburg-based investment vehicle ARM Asset Backed Securities has sold its life settlement portfolio for an undisclosed sum to life settlement fund Financial Credit Investment I Limited.

Bob’s Weekly Update

Dear Bondholders,

Thanks to many emails we have received, it has come to the Steering Committees attention that in the vacuum created by a lack of hard news, there is a growing ‘rumour mill’ at work that appears to be feeding off itself to produce ever more inaccurate information. This is becoming quite worrying to many readers.

‘Bob’s Weekly Update’ No8

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Meeting at House of Commons

Over the past few month’s, while Bob Sharpe, utilising his significant knowledge of Investment products and answering dozens of your e-mails every week and while Ian Ward has been building relationships with politicians culminating in last weeks meeting I have been spending my time trying to establish the truth of why we are in this mess and cannot get access to our own money. The outcome is contained in the Briefing Papers that we placed before MPs.

The highest numbers of complaints we receive are that bondholders seem to be kept in the dark and as a result have no idea what is happening. The Steering Committee has great sympathy with this because we are frustrated by the same problem. I sometime think that some parties in this debacle see non disclosure as a weapon rather than a tool.

So aware of this we do not want any misuse of the briefing papers to damage the work that now confronts MPs while they attempt to influence parties in our interest. At the same time we want to let bondholders know where we are and, therefore, we are putting the papers on our board subject to copy write law, and are also making the paper subject to password protection. Those bondholders who have already submitted their name, post code and MP will receive their briefing document password in a reply to their original submission. Please remember that this is very much work in progress and we will continue to keep you informed as and when appropriate.

I want to thank a number of people who have helped and are continuing to help me with this work.

Brian Love.

BRIEFING DOCUMENT

Bob’s Weekly Update

Dear Bondholders,

Gentler readers had better make sure they are sitting down as I’m about to write something truly shocking.  If news reports are correct, you all have something in common with the group of alleged Jihadist traitors from Birmingham who are currently on trial in Woolwich Crown Court. You can do exactly what they did, without let or hindrance, provided you possess a verifiable bank account and a debit card.

It’s something I have done many times, sometimes to my cost, and it is something that huge numbers of people can, and do, engage in for around 20 hours a day six days a week. Sometimes they are involved with things that are described as hard, soft, wet or junk and yet they have no fear of arrest in any jurisdiction.

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