UK 13:56 Monday, 26 October 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Yesterday afternoon the poodles at iii ran a story claiming that Quenron (QPP) had lost a major contract and stating that there was a real cash crisis. Quindell has responded with an RNS which is bluster and reeks of panic. The statement reads:
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Comments
Dominic Cooper
The cynic in me would not be surprised if the whole story (coming as it did on an afternoon when the SP was already tanking) was a deliberate plant – put into place so that it could be comprehensively denied in the morning, followed by a threat of legal letters, etc. The idea being that this will put off Alphaville, the FT, Daily Mail, etc., from running any more stories about Quindell.
If I am right, it has probably worked. The rebound has already taken the SP higher than it was before the story was published by III, and this sort of thing is manna from heaven for the Bulletin Board Morons – as it will be when they announce later today, or maybe next week, that they have been awarded a “Squilltrillion Pounds” of damages against Gotham.
As can be seen from the volumes, this is just the morons buying tranches of a couple of hundred quid here and there (one buy for example was £168.17, and almost all are under £2k). But it all helps.
The psychology is if Comrade Herr Consultant Terry can prove that all these nasty people are saying unfair things about his company, he can trigger off a bubble. Hopefully he can then get out and run before that bubble collapses.
trashbat
A cynic might look at this QPP RNS:
“it has not lost a major contract with a large claims management firm based in the North West of England”
and think that maybe III got the location wrong. But not I.
J P Spaghetti
Aunt Sallys all round eh?!
Mac
The interesting thing about the rebuttal is that they actually gave one. In my mind, this is very telling as they specifically haven’t rebutted all the other stories about a cash crisis.
If you deny one allegation but refuse to deny another one I think it’s reasonable logic to assume that the one you’re staying silent on (cash crisis) is true.
Dominic Cooper
Could be Trashbat.
Also, think about what claims management companies, and qls (spivs, the lot of em) actually do. a CMC provides names of mugs they have cold called and texted to death about “the accident you had last week is worth £3,452.78 – cheque waiting. Text QUINDELL now to 2+2=5”.
In return said CMC want paying. Nothing more, nothing less. That is the entirety of the contract. There is no “supply chain” or “quality servicing” or the like. The CMC couldn’t give a flying fuck if the contact they have sold gets upset because he hasn’t got a case, or was looked after by the best in the business.
So the sole reason a CMC would fall out with QLS is if they didn’t get paid.
Every firm in the business works the same way. They sign up to a CMC. Keep them happy. Keep the cases coming. Throw them a few grand. And then stop paying, hoping that the CMC won’t chase. Red reminders go in the bin, then the threat of a summons. Then pay (by which time you hope to have actually made enough money from the cases to pay the CMC). Then fuck the CMC off and get another one. The same happens with medical experts, process servers, photographers and the like.
So if they have fallen out, it would be over non-payment, and wouldn’t be a surprise. Buy I still think it’s a plant. The story was badly worded, the name not mentioned, it just co-incides with an earlier RNS of a “significant win” for QPP to have bagged this CMC (which in Quindell speak means it must be a quindell subsidiary as the only trading it does is between itself and itself).
Elrico
Tom,
Now no loan stock available to short the SP is climbing and encouraging foolish bulls to mop up more worthless junk. Which is OK if you’re just trading this dog but there real fools out there probably dribbling down their chin. I’m unsure who are more foolish, investors or FCA and or AIM.
Slim Fizzlebeef
A cynic might look at this QPP RNS:
“it has not lost a major contract with a large claims mgmt firm based in NW England”
and think that’s because it never had a contract just a ‘non-contractual agreement’.
The bluff and blusterers can therefore claim they haven’t technically lost a contract.
J P Spaghetti
Ooh – very sharp SF!
Russ O'Callaghan
It wouldn’t surprise me now if deals like this were made and subsequently dropped far more frequently than discovered / announced because Quindell have decided that only contracts and arrangements over one hundred million quid are now worth their while drafting announcements about. ONE HUNDRED MILLION QUID for crying out loud. Who on earth do they think they are? I’d imagine outfits like the Ford Motor Company, or BHP Billiton or Berkshire Hathaway could actually be bothered to announce the odd fifty or seventy-five million quid contract; but not Quindell…
It doesn’t surprise me one bit that they haven’t actually got a New York office; it’s probably only “worth their while” having a presence in really important global financial centres……
Robert Terry the 5th (teehee)
i hear from an employee of Quindell that they are throttling back massively on new cases to the extent where it MAY be sub 1000 a month soon so they can concentrate on ‘turning’ the NIHL claims faster (sarcasm) no one seems to mention the 1 year backlog on contributions history info or the insurers 1 year backlog on post….. That’s an instant knock on their forecasted settlement times.
There will be loads of claims companies going bust now that quindell can’t afford to keep buying the work, it will rock the whole market, probably not a bad thing because the idiots at quindell have pushed the price up massively anyway…
Wish they would hurry up and go pop, although it does amuse me to see the skeletons that keep flying out of the closet.
Keep up the good work Tom