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Post by brightspark on Nov 15, 2018 9:12:39 GMT
'Invested' can have different connotations. Certainly SL seems to be investing time if not money and one does wonder why this is. Wishful thinking about self-builders and wedding events is unfortunately not going to put matters straight. For the benefit of all parties - lenders, borrowers and platform - a clear strategy going forward which must include asset disposals needs to be in place asap.
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cb25
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Post by cb25 on Nov 16, 2018 10:16:43 GMT
'Invested' can have different connotations. Certainly SL seems to be investing time if not money and one does wonder why this is. Wishful thinking about self-builders and wedding events is unfortunately not going to put matters straight. For the benefit of all parties - lenders, borrowers and platform - a clear strategy going forward which must include asset disposals needs to be in place asap. I suspect that when the insolvency practitioner report comes in, we're going to find that AC's quoted valuation isn't based on reality, just wishful thinking.
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Post by brightspark on Nov 16, 2018 10:35:56 GMT
I am sure you are correct. I naively put a small trial sum of money into GBBA1 and very quickly found myself exposed to this hopeless deadweight.
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Post by investor01010101 on Nov 28, 2018 19:36:50 GMT
and BANG another delay on the "backstop" date, the borrower only had to provide two items and he hasn't even managed that. Come the next update I predict "still waiting for something" Then the next "unfortunately can't get it this side of Christmas" Then the next "a new proposal by April"
Delay, ***, repeat
AC its time you stepped up now and gave us that vote, you and the borrower are just antagonising everyone with your failure to meet dates.
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shimself
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Post by shimself on Nov 28, 2018 20:30:27 GMT
and BANG another delay on the "backstop" date, the borrower only had to provide two items and he hasn't even managed that. Come the next update I predict "still waiting for something" Then the next "unfortunately can't get it this side of Christmas" Then the next "a new proposal by April" Delay, Lie, repeat AC its time you stepped up now and gave us that vote, you and the borrower are just antagonising everyone with your failure to meet dates. AC's update says specifically that if the document is not received the vote will go ahead anyway. This is all good in the sense that AC aren't covering up their frustration and distrust
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Post by davee39 on Nov 28, 2018 21:58:44 GMT
and BANG another delay on the "backstop" date, the borrower only had to provide two items and he hasn't even managed that. Come the next update I predict "still waiting for something" Then the next "unfortunately can't get it this side of Christmas" Then the next "a new proposal by April" Delay, ***, repeat AC its time you stepped up now and gave us that vote, you and the borrower are just antagonising everyone with your failure to meet dates. AC's update says specifically that if the document is not received the vote will go ahead anyway. This is all good in the sense that AC aren't covering up their frustration and distrust No, unfortunately, the email refers to an update being provided. There is no mention of the loan being anywhere near a vote. What there is, is a complete shutdown on the Q & A, and what looks like kicking the vote into the new year (due to the 'holiday period'), making it at least 3 months later than indicated following questioning at the tail end of the interest free period.
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shimself
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Post by shimself on Nov 28, 2018 22:08:25 GMT
AC's update says specifically that if the document is not received the vote will go ahead anyway. This is all good in the sense that AC aren't covering up their frustration and distrust No, unfortunately, the email refers to an update being provided. There is no mention of the loan being anywhere near a vote. What there is, is a complete shutdown on the Q & A, and what looks like kicking the vote into the new year (due to the 'holiday period'), making it at least 3 months later than indicated following questioning at the tail end of the interest free period. Well OK there is a lot of wriggle room, but they definitely mention a vote I believe the next update will incorporate a proposal which we are free to relect in favour of calling in the security. (Or, heaven forfend, accept)
Quote There has understandably already been a large amount of questions regarding this loan. Many of these will be answered within the proposal and vote itself and some are adding little in the way of further information. Lenders will be given sufficient time to review the borrower proposal and ask questions
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ton27
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Post by ton27 on Nov 29, 2018 12:54:03 GMT
Given the ongoing delays by the client and allowed by AC, I am not expecting anything meaningful in the next update....but I live in hope of a vote supported by some facts/further information.
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travolta
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Post by travolta on Nov 29, 2018 15:18:19 GMT
and we get a vote ….guess what happens? Some one will rewrite the verdict . Sound familiar?
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Post by roandy55 on Nov 29, 2018 16:56:59 GMT
and we get a vote ….guess what happens? Some one will rewrite the verdict . Sound familiar? Are you referring to Brexit by any chance?
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Post by brummiefred on Nov 29, 2018 17:02:03 GMT
Or Wolv perhaps
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IFISAcava
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Post by IFISAcava on Nov 29, 2018 17:04:14 GMT
and we get a vote ….guess what happens? Some one will rewrite the verdict . Sound familiar? Are you referring to Brexit by any chance? Dunno - if after an initial subscription to the loan you get some info that the risk of the loan has changed, the interest rate is lowered, or your capital will get a haircut - I'd kind of want to be given the decision on whether to continue with the loan rather than be told I'd already committed myself when the parameters offered were different.
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Mick
Be nice... People respond.
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Post by Mick on Dec 4, 2018 20:29:26 GMT
Is this Haircut time
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Post by brightspark on Dec 4, 2018 21:39:41 GMT
Dunno. Would be interesting to know what would be the position of the provision fund in such a scenario as a chunk of the lending on this loan seems to have been via GBBA1.
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Post by brightspark on Dec 13, 2018 9:08:52 GMT
The survey does not provide an opportunity simply to vote for or against Administration. Pity.
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