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Seems that Aviva have made a petite boo-boo.
This chap and 30 or so others was sold a policy by a French company called 'L’Abeille Vie' which was subsequently bought by Aviva.
If I have understood correctly, the policy allows him to change his investments based on last weeks prices, even if they had moved in the meantime. In addition it allows him to invest more money in the policy at will.
Thus he assuming he maintains his current rate of progress (and wins the court case case), he is on course to earn €230bn by 2030, from an initial investment of €8,000! 😯
[url= http://www.independent.co.uk/news/business/news/maxherve-george-the-man-fighting-a-merciless-legal-war-against-insurance-giant-aviva-10168427.html ]http://www.independent.co.uk/news/business/news/maxherve-george-the-man-fighting-a-merciless-legal-war-against-insurance-giant-aviva-10168427.html[/url]
Whoops!
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Zut alors!
Sacre bleu!
Pan au chocolat!
mange tout!
Mangetout!
petite pois
Ou est la piscine?
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Manger mon petit pantalons.
vive la diference
le singe est dans l'arbre
Probably about the only way left to make any money these days in France if you're not a civil servant.
"Charles à un moustache longe..."
impressionnant!!
ecrit le chat avec la plume de ma tante
Il est meme pas un vrai hamster
où est le centre de George Pompidou?
J'ai d'autres chats a fouetter!
Reminds me of the Russian (I think) bloke who went to open a bank account and was given a several page contract to sign. He took it away to read, decided he didn't like some of the clauses and so printed a different version (that looked very similar) which he signed and returned to the bank. The Bank Manager signed it too and the bank account was opened according to that contract.
The Bank Manger was surprised to receive £30 bills for every letter his client sent him with £60 penalties each time they did not respond within 48 hours. I can't remember the exact outcome but the first judge ruled that the contract was valid and not unreasonable.
Excellent (see what I did there 😉 )
Being in fiannce I love stuff like this, red faces all round. I hope Aviva loses.
I think Aviva are on a hiding to nowhere on this one. I think what the court rulings are saying is that the contacts weren't worded in this way accidentally so they are entirely valid.
They should have done their due diligence properly before buying the company concerned.
They'd have to pay me a lot more than €150m to by me out of a ticket like that!!
Thus he assuming he maintains his current rate of progress (and wins the court case case), he is on course to earn €230bn by 2030, from an initial investment of €8,000!
He has already won the court case. And as a result of that and the unique position it places him in, a Swiss bank has decided his credit rating is good enough to lend him another €20 million to put into the investment vehicle.
Possibly time to transfer my pension out of Aviva?
Pomme Frite
oldnpastit - Member
Possibly time to transfer my pension out of Aviva?
I would, mon Petit ros beuf
[s]The Flying Ox do you have a link to that story ?[/s]
Just seen it's in the original story
[quote=jambalaya dijo]The Flying Ox do you have a link to that story ?
http://rt.com/business/man-outsmarts-banks-wins-court-221/
@nbt (and others who care) - the Italian Post office made a similar-ish mistake back a while ago, they had a savings plan with fixed interest rates and no upper limit to investment. Some financiers spotted this and took out contracts worth $100's millions when Italy joined the euro and their interest rates fell dramatically making the post office contracts very valuable as they paid above market rates.
Tres bien