alibaba
Member of DD Central
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Post by alibaba on Sept 12, 2019 13:57:35 GMT
I saw this happen on TC, the silent majority will be withdrawing funds, A few will be making positive noises whilst withdrawing. There will be a gradual decline of the site for retail investors a 're alignment towards institutional investors, the people who have supported the site from the early days will be the losers. No Morals no integrity.
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sl75
Posts: 2,092
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Post by sl75 on Sept 17, 2019 15:30:15 GMT
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. Official responses from AC include: "Those who choose not to vote or are not eligible to vote do not influence the final outcome of the vote. Therefore, this data is superfluous and is no longer provided when publishing the outcome of lender votes." and "The percentage of those who didn’t vote does not count to the overall vote result, only those votes cast count towards the final result."
Voter turnout, and the proportion of votes that are excluded due to changes to the eligibility criteria, are thus treated as completely irrelevant. They must be astonished that such superfluous statistics are routinely calculated, published, logged and analysed for almost all other forms of voting I can think of.
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jo
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Post by jo on Sept 17, 2019 15:44:37 GMT
Fair enough. We aren't allowed to know the percentage that didn't vote this time, then. Official responses from AC include: "Those who choose not to vote or are not eligible to vote do not influence the final outcome of the vote. Therefore, this data is superfluous and is no longer provided when publishing the outcome of lender votes." and "The percentage of those who didn’t vote does not count to the overall vote result, only those votes cast count towards the final result."
Voter turnout, and the proportion of votes that are excluded due to changes to the eligibility criteria, are thus treated as completely irrelevant. They must be astonished that such superfluous statistics are routinely calculated, published, logged and analysed for almost all other forms of voting I can think of.
My funds with this platform are only ~6% of peak. Can't remember why I decided to withdraw...
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Post by roandy55 on Sept 17, 2019 16:28:28 GMT
I believe the term used by Stuart Law to describe lenders, when those with a balance of less than 1p in a suspended loan were blocked from viewing updates was:
"Nosy parkers".
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Mikeme
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Post by Mikeme on Sept 18, 2019 8:50:25 GMT
Did a post get deleted? bg?
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jfh82
Posts: 77
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Post by jfh82 on Nov 1, 2019 13:11:07 GMT
Excited for today's update! (I can't find a withering sarcasm smiley) It isn’t happening. Kick the can for another week why not. Some years ago, I was actively promoting AC to everyone I knew. Now, because of this and other serious mismanagement I'm doing the reverse and getting mine and everyone else's money away from the platform, and generally P2P to be honest.
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Post by brightspark on Nov 1, 2019 14:43:41 GMT
I would not go so far as that but I have put no new money into AC for several months, would not advise any of my acquaintances to be other than very cautious in their investment via the platform. If the AC approach to this borrower remains unchanged then my confidence in their judgement is going to take a knock. I am a "sophisticated" investor with three platform failures under my belt so I have every right to be wary.
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Post by brightspark on Nov 1, 2019 19:11:58 GMT
The two go together!
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cb25
Posts: 3,521
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Post by cb25 on Nov 6, 2019 10:19:24 GMT
Vote just issued Option A – Give the Borrower further time of four weeks until 9 December 2019 to secure the loan.. Option B – Make demand on the Borrower to repay the loan..
And so it continues, again making Option A seem very reasonable, whilst quietly kicking the can down the road by promising no specific action or repayment of funds. No doubt, if Option A is chosen, at the end of the 4 weeks we'll find some 'slight problem' that requires another review and/or 3-6 months more work.
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Post by roberti on Nov 6, 2019 10:27:23 GMT
SICK OF THIS!!
NO MORE TIME
is this ever going to end......
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Post by bobsmydog on Nov 6, 2019 10:38:07 GMT
Vote just issued Option A – Give the Borrower further time of four weeks until 9 December 2019 to secure the loan.. Option B – Make demand on the Borrower to repay the loan..
And so it continues, again making Option A seem very reasonable, whilst quietly kicking the can down the road by promising no specific action or repayment of funds. No doubt, if Option A is chosen, at the end of the 4 weeks we'll find some 'slight problem' that requires another review and/or 3-6 months more work.
Meanwhile, the Borrower has yet to file accounts or even assure Lenders (AC Q&A) that they're trading solvently.
How much has Assetz lent to D******d M***** in total? How much does D******* owe to other lenders?
Without knowing that their possible 'valuations' under different senarios are a bit meaningless.
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rick24
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Post by rick24 on Nov 6, 2019 10:44:04 GMT
Strategy 1 "It is anticipated that on receipt of the £2m, the 40 plots are transferred to a new company incorporated specifically for the purpose developing these plots....the Lenders / Assetz Capital would still retain first ranking security over the Borrower’s residual assets" This seems to imply that the 40 plots would no longer be part of the security available to Assetz Capital lenders.
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adrianc
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Post by adrianc on Nov 6, 2019 10:50:12 GMT
If Strategy A makes sense for the borrower to do, then it will make sense for somebody else to do. If it doesn't, then it won't for anybody.
Frankly, I don't care, I just don't trust anything the borrower says.
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Post by Jack Barlow on Nov 6, 2019 10:57:43 GMT
Strategy 1 "It is anticipated that on receipt of the £2m, the 40 plots are transferred to a new company incorporated specifically for the purpose developing these plots....the Lenders / Assetz Capital would still retain first ranking security over the Borrower’s residual assets" This seems to imply that the 40 plots would no longer be part of the security available to Assetz Capital lenders. Correct, but AC would be entitled to a share of the anticipated profit resulting from the development of those plots.
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cb25
Posts: 3,521
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Post by cb25 on Nov 6, 2019 11:03:15 GMT
Strategy 1 "It is anticipated that on receipt of the £2m, the 40 plots are transferred to a new company incorporated specifically for the purpose developing these plots....the Lenders / Assetz Capital would still retain first ranking security over the Borrower’s residual assets" This seems to imply that the 40 plots would no longer be part of the security available to Assetz Capital lenders. There's a document named 'D*** M*** Strategy Summary 6 Nov 2019' in the Documents section that describes what assets are part of the deal and what residual assets and security value would remain.
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