ptr120
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Post by ptr120 on Sept 19, 2017 14:18:40 GMT
ablrate some text at the bottom of page 7 seems to be corrupted? Of the security offered, including the private residence, please can we have an indication of how / to what extent they are mortgaged?
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 19, 2017 14:19:07 GMT
I noticed that the borrower is linked to PBL137 on Lendy. Can they give a cross guarantee for this loan on that property even though the charge rests with Lendy? No, and that is actually referred to in the loan proposal page 14 with both the borrower on that and AC 508 being excluded from the XCG. No mention of the other, more important AC loan
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 19, 2017 14:21:09 GMT
ablrate some text at the bottom of page 7 seems to be corrupted? Nah, its just in morse, though semaphore would have been more appropriate
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stevio
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Post by stevio on Sept 19, 2017 14:23:40 GMT
ablrate could you confirm the amount of current charges and their priority in relation to this loan on: - The assets under the debenture - The property assets mentioned in the CG In particular, confirm any overlap with assets in the AC and Lendy loans already mentioned Thanks
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stevio
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Post by stevio on Sept 19, 2017 14:33:40 GMT
Same borrower as #465 on AC. I note that the credit report for the borrowing company doesn't mention the AC loan. "Supporting this document is also the 3 months Management Accounts to 30 June 2017 for ***** Ltd, the company which owns ***** which demonstrates the P+L generated by a vessel which is wholly owned by the Company". Only it's not, because AC (lenders) have a first charge on it. For those not on AC, is it permissible and could you or someone post the basic details of the 2x AC loans (eg security, amount, length, relationship to AB borrower etc)?
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bfish
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Post by bfish on Sept 19, 2017 14:40:06 GMT
I noticed that the borrower is linked to PBL137 on Lendy. Can they give a cross guarantee for this loan on that property even though the charge rests with Lendy? Oh dear ! I note the following recent update from Lendy:- 'Enforcement action against the borrower is continuing. Due to issues with the proposed refinance the borrower is now approaching additional lenders to try and exit the loan.' It seems that Mrs W is the only remaining director of the Company in question too.
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Steerpike
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Post by Steerpike on Sept 19, 2017 14:42:49 GMT
Sounds like the borrower may be drowning in debt, hopeful investors will be gutted.
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macq
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Post by macq on Sept 19, 2017 14:42:57 GMT
now the jokes at the start of the day are not looking so funny
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stevio
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Post by stevio on Sept 19, 2017 14:46:54 GMT
I noticed that the borrower is linked to PBL137 on Lendy. Can they give a cross guarantee for this loan on that property even though the charge rests with Lendy? I believe this information is allowable to post, but please let me know if not and I will anonymize as neededPBL137 valuation £180k exactly a year ago (as opposed 200k via AB proposal), £108k loan. Note that they are trying to refinance, however "Enforcement action against the borrower is continuing. Due to issues with the proposed refinance the borrower is now approaching additional lenders to try and exit the loan." ablrate how would you ensure this AB loan isn't used for the refinance? or for any other refinance of any other assets?
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r00lish67
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Post by r00lish67 on Sept 19, 2017 14:59:03 GMT
now the jokes at the start of the day are not looking so funny Don't worry, plenty more fish in the sea.
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mrflush
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This is not me
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Post by mrflush on Sept 19, 2017 15:03:21 GMT
some text at the bottom of page 7 seems to be corrupted? Maybe related to the "Cannot find or create the font 'ProximaNova-Regular'. Some characters may not display or print correctly." error I'm getting. Nice photos of boats though.
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Post by peerlessperil on Sept 19, 2017 15:31:23 GMT
I would advise people to do their due diligence very carefully, and pay particular attention to the disclosures in the credit report.
Companies House and the Insolvency Service are very useful resources - although I shall keep the lawyers happy by clarifying that I have not discovered anything untoward regarding the specific individual who is the Director of the borrowing company.
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Post by ablrate on Sept 19, 2017 15:37:04 GMT
We are reviewing the comments here and will have further information posted in the documents section.
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macq
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Post by macq on Sept 19, 2017 15:42:22 GMT
could they be added to the admin section or on here as well?- easier then reading the docs again
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Post by ablrate on Sept 19, 2017 15:48:58 GMT
could they be added to the admin section or on here as well?- easier then reading the docs again Will do both
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