Dear Ripple Coop 4 Member,
We are writing with updates on the following:
- New board Member – David Harby
- Board membership and the opportunity to co-opt a new member
- Administration update
- Ripple Administration Evidence Analysis Team – Volunteers!
- Request for volunteers to help run the Coop
- Thanks for the continued contributions to the Crow funder fund
New Board Member – David Harby
We are pleased to announce our new board member – David Harby. David answered the request for volunteers to join the board in the last email update and will fill Jentinder Singh’s vacated position. David is a Coop4 member and has been co-opted onto the board as an Independent Director due to his specialist skills. David is an English barrister and litigator with particular experience in insolvency, fraud and asset tracing. The board believes that this will enable him to provide the board with valuable expert advice.
Resignation of Nigel Cooper
Unfortunately, we also have to announce that Nigel Cooper has unexpectedly and reluctantly resigned from the board due to personal health reasons. Nigel joined the board earlier this year. He got up to speed quickly and has been contributing to the Coop’s activities. The board thanks him for his contribution and wishes him well with his health challenges.
Opportunity to co-opt a new member to the Board
Nigel’s resignation means that there is still an opportunity for the board to co-opt a director to fill the vacant position on the board under rule 32.2. This director must be an existing member of the society. This is a voluntary position and will serve until the next Annual General Meeting. Board meetings are held roughly twice a month. There is an expected time commitment of around 8 hours per month.
We would particularly welcome applicants with experience in:
- Accountancy, Auditing, credit card payments reconciliation skills
- Insolvency practice, Creditors Committees
- Legal and/or regulatory compliance.
You can find out more about the role and apply at coop4.uk/become-a-director/#apply until 20th July 2026 or earlier if an application is received that the board feels is appropriate.
Administration Update
We have been expecting BegbiesTraynor Group (BTG) to submit an application to the Court since around January in relation to at least some of the funds; to our knowledge they have still not done so. We are noted as an interested party to the proceedings and will therefore receive details of the application when it is finally made. We have contacted BTG’s solicitors to seek clarification on the timescales.
Ripple Administration Evidence Analysis Team – Volunteers!
We anticipate that we may receive a large amount of information from BTG via the court when their application for court directions is submitted. The evidence will require reading and analysis in a short amount of time. The format or content of this is unknown, but our ability to respond quickly will be crucial. We will need to identify if the information provided is complete and if there is more information required. We are looking for volunteers to help us analyse and respond to the information that we receive. Areas that we may need experience are:
- Financial services such as reconciliation of credit card transaction logs (Stripe ideally)
- Converting pdfs etc into usable spreadsheets
- Consolidation of multiple items of information into a single set of financial accounts
- Cashflow Analysis
- Reading, understanding and summarisation of contractual documents
Request for volunteers to help run the Coop
As well as the opportunity to become an independent director and help respond to the administrator’s evidence, we are also looking for volunteers to help the board run the Coop in several areas:
- Website administration – Keeping our website current is a continuous process. This includes adding board minutes, FAQ area updates, document updates etc.
- Email Communications administration – coordinating the drafting of these emails and sending them to members. Processing of any email delivery issues.
- Membership List – keeping our membership list current and accurate. Our membership list needs to be updated as we receive changes in postal address, email changes, name changes and notifications of bereavements.
Accounts Update
The 2025 accounts are in the process of being finalised using information that we have extracted from the Xero accounting system. We hope to submit those shortly. Work on the 2026 financial year accounts will then begin and we will publish the accounts later this year.
Thanks for the continued contributions to the Crow funder fund
It is just over a year since we started our successful crowdfunding campaign coop4.uk/fundraising. The funds raised and how they have been used will be included in the FY2026 accounts. Some contributions continue to be made. On the anniversary of the start of the crowd funder, we thank everyone who contributed and enabled us to operate the Coop. We all expected that by this time, Ripple’s administration would have been resolved. Frustratingly, it continues to drag on.
With best wishes,
Sam, Sonya, Klaus, Sheena and David
Board of Directors – Ripple Coop 4 Limited