michaelc
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Post by michaelc on Apr 18, 2019 18:20:40 GMT
We have not been asked to keep the existence of this email confidential. As far as I can tell there is little about the loan we didn't already know and is public. Away from the loans, it is slightly ominous that they might move to a different categorisation scheme. Following in the footsteps of Lendy would not be recommended. CONFIDENTIAL Please note that the contents of this email are strictly confidential and intended for the investors of this loan only. This update must not in any circumstances be circulated, quoted or distributed to any other party in whole or in part. Extracts must not be posted on to any forum as this may impact on the outcome of any future claims or litigation. Sorry RT but as the person who brought its attention to the forum I don't understand the point you are making making?
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rogerthat
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Post by rogerthat on Apr 18, 2019 18:23:53 GMT
We have not been asked to keep the existence of this email confidential.
As far as I can tell there is little about the loan we didn't already know and is public. Away from the loans, it is slightly ominous that they might move to a different categorisation scheme. Following in the footsteps of Lendy would not be recommended. Presume this is your post ?...
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Post by df on Apr 18, 2019 21:22:40 GMT
exactly ! I am not legal expert but the FS email sounds like vacuous spin to me and I wonder if all this confidential gubbins is just a PR stunt...am I encouraged by this email - answers on a digital postcard. I see it opposite. The actual fact that we got this email is positive. As far as info is concerned, it is as informative as an update on this particular loan can possibly be, I think. Adopting AC's update method (i.e. e-mail only communication with regards to troubled loans) is a step forward. I can't help not to notice that FS has stepped up in communication - new loans info is more informative and presented in more structured way than it was in the past.
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p2ploser
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Post by p2ploser on Apr 18, 2019 22:30:42 GMT
Totally agree. I’ve been more than critical of fundingsecures poor communication (lack of any updates and when they come they are meaningless) so this is definitely a step forward so credit where credit is due. I understand some points raised here already that the info. was not particularly new but at least it’s been provided to lenders formally now. Also not all lenders will have access to this forum so this communication would be much more informative for them. I hope that this is the start of more proactiveness in communicating with lenders. Now just need to see some recoveries! exactly ! I am not legal expert but the FS email sounds like vacuous spin to me and I wonder if all this confidential gubbins is just a PR stunt...am I encouraged by this email - answers on a digital postcard. I see it opposite. The actual fact that we got this email is positive. As far as info is concerned, it is as informative as an update on this particular loan can possibly be, I think. Adopting AC's update method (i.e. e-mail only communication with regards to troubled loans) is a step forward. I can't help not to notice that FS has stepped up in communication - new loans info is more informative and presented in more structured way than it was in the past.
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michaelc
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Post by michaelc on Apr 18, 2019 22:58:32 GMT
We have not been asked to keep the existence of this email confidential.
As far as I can tell there is little about the loan we didn't already know and is public. Away from the loans, it is slightly ominous that they might move to a different categorisation scheme. Following in the footsteps of Lendy would not be recommended. Presume this is your post ?... Yes it is my post. I think I might need it spelled out
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rogerthat
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Post by rogerthat on Apr 18, 2019 23:36:59 GMT
Presume this is your post ?... Yes it is my post. I think I might need it spelled out I'm sure the penny has dropped so I wont pursue it any further..
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henryjford
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Post by henryjford on May 6, 2019 15:46:38 GMT
Could somebody remind me when the next court date is please?
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Mousey
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Post by Mousey on May 6, 2019 16:08:06 GMT
... - The defendant submitted an adjournment application dated 4 March 2019. - The Court considers it appropriate to give the Defendant a further opportunity to purge his contempt - It is ordered that the Claimant’s committal application is adjourned to 10.30 am on 31 July 2019 - Although before 31 July 2019, the Claimant (FS) (a) may apply to restore the committal hearing on 24 hours’ notice to the Defendant; and (b) may apply without notice to issue a bench warrant for the Defendant’s arrest. - The Defendant shall submit to cross-examination by the Claimant, either (a) in person at Court if he is fit to do so; or (b) from Spain by video link - The Defendant’s cross-examination shall have a time estimate of 1 day and shall take place before Mr Justice A***** on a date to be agreed between 3 June 2019 and 17 July 2019. It might be worth noting the defendant has previously been ordered to appear and did not show up.
...
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adrian77
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Post by adrian77 on May 6, 2019 16:39:15 GMT
Well I wonder if this chap who is well enough (according to the media) to make sexual gestures towards Spanish woman (creepy or what) will have a relapse before the court date and be "unable" to make it to the UK - answers on a digital Spanish postcard. I just hope the court/FS/other creditors get him to the UK so the US authorities can give him a proper sentence...
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henryjford
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Post by henryjford on May 10, 2019 15:53:10 GMT
... - The defendant submitted an adjournment application dated 4 March 2019. - The Court considers it appropriate to give the Defendant a further opportunity to purge his contempt - It is ordered that the Claimant’s committal application is adjourned to 10.30 am on 31 July 2019 - Although before 31 July 2019, the Claimant (FS) (a) may apply to restore the committal hearing on 24 hours’ notice to the Defendant; and (b) may apply without notice to issue a bench warrant for the Defendant’s arrest. - The Defendant shall submit to cross-examination by the Claimant, either (a) in person at Court if he is fit to do so; or (b) from Spain by video link - The Defendant’s cross-examination shall have a time estimate of 1 day and shall take place before Mr Justice A***** on a date to be agreed between 3 June 2019 and 17 July 2019. It might be worth noting the defendant has previously been ordered to appear and did not show up.
... Thank you Mousey, very decent of you.
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adrian77
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Post by adrian77 on May 13, 2019 16:46:13 GMT
There are some new posts about this one in FS DD. I have also posted as I am unsure about the significance of the latest developments - anybody without access to FS DD and wants to see what I have posted please PM me.
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Mousey
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Post by Mousey on May 13, 2019 16:52:03 GMT
The posts in DDC are news articles that have been posted relating to the companies involved in the money laundering allegation in America.
I see Adrian has asked about the charges that exist against our borrowers company - M****** F*** A**. Our loans were made to the borrower in a personal capacity rather than to the business. How fundingsecure checked the pledged artwork actually belonged to him and not the company in the first place is a good question however.
I believe the charge relates to a loan of £520,000 by M*U
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adrian77
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Post by adrian77 on May 13, 2019 17:02:34 GMT
thanks - all this legal gubbins is a bit beyond me - it is the following a fair question:
given that FS gave this person ("person" is not the first word I typed) £2.3m of our money then why the hell didn't the security include a charge on his business and everything else this "person" had a financial interest in.
Call me stupid (and many do) but I thought in a pawn business the loan was made against the asset which passed into the full control of the pawnbroker once the loan was defaulted! Rather than "have you really sold the items without us having control of them in the first place.."
Gordon Bennett!
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adrian77
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Post by adrian77 on May 17, 2019 15:54:49 GMT
There has been another quote "update" unquote- this is PR twaddle trying to make out there has been progress when it fact this strikes me as going from very bad to even worse. This info is in the public forum not least that of the journalist(s) following this farce. So the next stage is delayed ever more and this chap is still sick - yeah right. The only honourable thing for FS to do is repay our money and sort out this unbelievable mess which they created at their own expense.
Feeling depressed now - heading for the pub as I need a drink!
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agent69
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Post by agent69 on May 17, 2019 17:03:03 GMT
So the next stage is delayed ever more and this chap is still sick - yeah right. Could be a bit like the Ernest Saunders (he of the Guiness / Distillers takeover fiasco) saga. He was released 10 months into a 5 year prison sentence because he had Alzheimer's, and was seen shortly thereafter on a yatch in the Caribbean having made a full recovery.
If you've got a few quid to your name you can get away with anything.
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