cb25
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Post by cb25 on Sept 11, 2019 16:37:02 GMT
Is the vote proportional to the size of one's investment ,I wonder? Like this, from the vote "As per our terms and conditions, a vote is approved by a simple majority of Lenders who vote based on one vote for every pound of the nominal value of their loan units. It is not based on one Lenders, one vote." ?
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shimself
Member of DD Central
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Post by shimself on Sept 11, 2019 16:44:59 GMT
What do you think. Sheep? One or two big hitters? Do AC have any votes stemming from the GBBA or QAA or some underwriting?
I think sheep myself.
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Post by bracknellboy on Sept 11, 2019 16:51:55 GMT
What do you think. Sheep? One or two big hitters? Do AC have any votes stemming from the GBBA or QAA or some underwriting?
I think sheep myself.
`I don't think they can have rights stemming from the GBBA. Lenders physically/logically/contractually hold the loans even in the GBBA. And hence why I am lumbered with a bloody great slice of something I never wanted, and why I get asked to vote. I suspect the QAA is the same.
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cb25
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Post by cb25 on Sept 11, 2019 16:51:59 GMT
What do you think. Sheep? One or two big hitters? Do AC have any votes stemming from the GBBA or QAA or some underwriting?
I think sheep myself.
Possibly a bit of both. AC struck out my questions that were designed to tell how few lenders it would take to generate a majority vote, but anyway Lender Votes nearly always go with Option A. Especially with this one which tends to be "do you want A: rainbows and pots of gold, or B: end of life as we know it".
Having said that, have to admit I reluctantly went with A this time as it seemed sensible to let the D&P thing play out over the next 6 weeks. AC put £5000+ of my GBBA money (20% at the time) in this loan, so not going B took some doing!
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shimself
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Post by shimself on Sept 11, 2019 16:58:50 GMT
What do you think. Sheep? One or two big hitters? Do AC have any votes stemming from the GBBA or QAA or some underwriting?
I think sheep myself.
..
Having said that, have to admit I reluctantly went with A this time as it seemed sensible to let the D&P thing play out over the next 6 weeks. AC put £5000+ of my GBBA money (20% at the time) in this loan, so not going B took some doing!
Given the 6 weeksif I had thought for a moment that it might go to B I would have voted A (as a sort of protest vote - and we know what happens with those). I'm only at a tenth of your investment, so I don't mind losing £100(?) to stick it to the b*****, it's terrible that AC shafted so many investors
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travolta
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Post by travolta on Sept 11, 2019 17:01:33 GMT
AC directors and friends have a lot of their own money invested in this... the vote is just a sham.
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Post by roandy55 on Sept 11, 2019 17:03:24 GMT
100% turnout? Never seen that before.
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Post by bracknellboy on Sept 11, 2019 17:18:06 GMT
AC directors and friends have a lot of their own money invested in this... the vote is just a sham. well if they do - as in they own big chunks of the loan - then that is ultimately likely to be a good thing for the rest of us. It will make them especially motivated to maximise returns rather than keep ACs default figures/losses looking spick and span for as long as possible.
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Post by Jack Barlow on Sept 11, 2019 17:20:28 GMT
100% turnout? Never seen that before. The result is preceded by the words "Based on those who voted, the results are:"
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Post by roandy55 on Sept 11, 2019 17:23:55 GMT
100% turnout? Never seen that before. The result is preceded by the words "Based on those who voted, the results are:" Fair enough. We aren't allowed to know the percentage that didn't vote this time, then.
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Post by brightspark on Sept 11, 2019 21:33:47 GMT
AC directors and friends have a lot of their own money invested in this... the vote is just a sham. Do you have any evidence to support this statement or is it simply conjecture?
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bigfoot12
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Post by bigfoot12 on Sept 12, 2019 7:23:35 GMT
AC directors and friends have a lot of their own money invested in this... the vote is just a sham. Just because someone has a bigger share than you doesn't make it a sham. From the June Vote as posted by cb25 here People not bothering seem to be in the majority. Blame them!
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Post by gramsky on Sept 12, 2019 7:27:49 GMT
Results are out:-
A = 82% B = 18%
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jo
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Post by jo on Sept 12, 2019 8:49:48 GMT
82% vs 18% is basically in line with all previous votes. The A percentages from previous votes are:
99% 93% 61% 83% 88%
I don't know why anyone is surprised... clearly there are enough active voters with the extend and pretend view and that's hardly going to change if the proposals are the same.
Fictitious assets make a nice addition to any balance sheet. Until they don't. Just ask any 2008-vintage CLO/CDO tranche holder.
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Post by brightspark on Sept 12, 2019 9:25:32 GMT
I fear that AC integrity and credibility is gradually taking a knock as this saga rumbles along. The GBB1 algorithm was flawed as must be obvious to all and sundry. I have a reasonable sum invested via AC but am very wary of adding to it because of this loan. Without trust a business relationship eventually collapses. this could be the beginning of the end of my relationship with this platform.
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