dermot
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Post by dermot on Apr 26, 2018 15:48:56 GMT
These guys are blaming the Carillion debacle for their late payments, but looking back, I see they've often been one to three weeks late with payments, which doesn't inspire confidence or trust. I'm also troubled that they have not responded to AC's request for updated cashflow projections. I don't want to kick somebody in the nuts, who has fallen foul of Carillion going bust (and I have some years experience dealing with *that* bunch of bloody toe-rags!) but A*******e are doing themselves no favours by ignoring requests for updated information by which AC, and ourselves, can make an assessment. Given their recent and not-so-recent payment history, I'm tempted to go for B and issue a formal demand now, since there should be funding support available, so are they using Carillion as an excuse for other failings? british-business-bank.co.uk/support-smes-including-carillion-suppliers/ |
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Post by captainconfident on Apr 26, 2018 18:59:26 GMT
I chose B. Given the lack of co-operation, voting A would give the message to the borrower that AC's requests for information can be ignored because the lenders they represent are not that bothered whether or not A******* carry out the requirements they signed up to in their loan contract. Our whole position would be undermined.
Not that I hold out much hope. The 'Vote A phenomenon' as seen in 227 will almost certainly prevail.
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m2btj
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Post by m2btj on Apr 27, 2018 7:02:54 GMT
I believe the client is just playing games to buy time & have little confidence in their ability to service the loan going forward. Following a breakdown in communication with the client I'm voting B.
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cb25
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Post by cb25 on Apr 27, 2018 7:52:03 GMT
Ditto, went with B
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liso
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Post by liso on Apr 27, 2018 11:22:45 GMT
The borrower's lack of cooperation with lenders in resolving this situation, borders on contempt. B from me.
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ton27
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Post by ton27 on Apr 27, 2018 11:49:23 GMT
B for me also. Given the closeness in vote (1/5) and possible payment (4/5) I was tempted for a while to go for A but the lack of transparency of the borrower, their delays and prevarication persuaded me to go for B.
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dermot
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Post by dermot on May 4, 2018 21:49:03 GMT
GBBA just sold my entire £2.5K holding in this. Hooray!
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dave2
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Post by dave2 on May 5, 2018 5:22:56 GMT
Seems to be in high demand, back to zero availability.
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cb25
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Post by cb25 on May 5, 2018 8:01:21 GMT
AC's update of 2 May says
"Lenders are aware that a vote was conducted on this loan on 26 April 2018...
Since this time, the borrower has remitted a payment, on 1 May 2018, to meet the outstanding loan repayment due for April 2018 (due 15 April 2018). Therefore, the borrower has rectified the default position on the loan....
As such, we have marked the loan to monitoring, trading has recommenced and lenders manual investment targets are enabled. "
No mention of the result of the Vote. I have just £21 in GBBA so not too worried which way it went especially because the borrower has rectified the problem (at least for now)
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ilmoro
Member of DD Central
'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 May 5, 2018 9:00:40 GMT
AC's update of 2 May says "Lenders are aware that a vote was conducted on this loan on 26 April 2018... Since this time, the borrower has remitted a payment, on 1 May 2018, to meet the outstanding loan repayment due for April 2018 (due 15 April 2018). Therefore, the borrower has rectified the default position on the loan.... As such, we have marked the loan to monitoring, trading has recommenced and lenders manual investment targets are enabled. " No mention of the result of the Vote. I have just £21 in GBBA so not too worried which way it went especially because the borrower has rectified the problem (at least for now) It's implicit from the update that the vote became void as the grounds for holding it became invalid when the borrower made the payment rectifying the default.
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