macq
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Post by macq on Aug 9, 2019 17:00:32 GMT
having read the email more then once i now realise that i am moving past my threshold level of understanding (or maybe just dim in the first place) But the email says the builder will buy in the venue and the loans from the administrator but in an admin note(7th Feb) it was said that the BN assets were acquired by a creditor from the administrator already - so am i looking in the wrong place i.e did that fall through and i missed it and who owns the asset now?(and maybe even at the end) The asset, such as it is, is not a problem because the lenders of the two loans have a first and second charge on it. What needs to be followed is the borrower company, which was a subsidiary of that group, but which is still in administration. The borrower company owns the asset still (as far as I know) and to restructure the loans the borrower company will need to be purchased out of administration presumably by the Newco, with the borrower company's asset and the personal guarantee, such as it is (not mentioned). The loans cannot be bought by or reassigned to another borrower - that would be more than a restructure. The assets bought by the other Newco from the administrator are different. I hope this explanation does not breach any confidences.
Thanks for that but this is where i get confused as i thought that B********R A****S ltd where taking on the assets from the equity holders and either acquire/rollover the Abl loans (as per the admin note)
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ganymede
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Post by ganymede on Aug 13, 2019 15:26:43 GMT
Update for 97/104/105 email, see admin note/document for details.
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Post by ladywhitenap on Aug 13, 2019 15:31:47 GMT
Seems like a good result to me and hopefully the ISA admin issues are sorted. Will be nice to have some repayments flowing in once more. LW ablrate Thanks for all your work on this restructuring. When will trading resume on the SM?
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Aug 13, 2019 15:40:26 GMT
When will trading resume on the SM? What discount rate will be needed to tempt any buyers?
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gibmike
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What is a cynic? A man who knows the price of everything and the value of nothing.
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Post by gibmike on Aug 13, 2019 15:43:58 GMT
ablrate thanks for the updates. It sounds like a nightmare both in terms of the technical issues and the structure of the loans.
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hazellend
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Post by hazellend on Aug 13, 2019 17:07:54 GMT
When will trading resume on the SM? What discount rate will be needed to tempt any buyers? I sold about half my holding at 25% discount just prior to default so that should do it. I’d consider topping up my holding
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mw
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Post by mw on Aug 14, 2019 21:28:23 GMT
I've just noticed my holding in loan 105 has gone up and has been removed from due payments! Hapoy days!
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marka
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Post by marka on Aug 15, 2019 6:19:28 GMT
I've just noticed my holding in loan 105 has gone up and has been removed from due payments! Hapoy days! Do you mean as distinct from the previous time this happened in June? We all had that, but there are two more missed payments since then.
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withnell
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Post by withnell on Aug 15, 2019 6:20:25 GMT
I've just noticed my holding in loan 105 has gone up and has been removed from due payments! Hapoy days! Is that in an ISA or non-ISA? My holding in an ISA still has June/July still to pay
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mw
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Post by mw on Aug 15, 2019 6:22:17 GMT
I've just noticed my holding in loan 105 has gone up and has been removed from due payments! Hapoy days! Do you mean as distinct from the previous time this happened in June? We all had that, but there are two more missed payments since then. Sorry i've just got it wrong in my spreadsheet had it down as £200 less so it hasnt been added. Think something will happen nect Tues 20th regarding interest rt! Its disappeared from my due payments now though.
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mw
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Post by mw on Aug 15, 2019 6:25:26 GMT
Apart from the two recently missed payments like you say
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mw
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Post by mw on Aug 15, 2019 6:35:46 GMT
I've just noticed my holding in loan 105 has gone up and has been removed from due payments! Hapoy days! Is that in an ISA or non-ISA? My holding in an ISA still has June/July still to pay Sorry withnell i got it wrong in my spreadsheet for that loan! Thought something was wrong! Long day yesterday!
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iren
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Post by iren on Aug 15, 2019 20:17:46 GMT
The admin note on 1000085 stated “all outstanding payments up to and including 27th July will be paid out early next week.” Payments have since been made up to 27 June, but the 27 July payment remains outstanding. Is this to come, or has this payment not in fact been received by Abl?
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Post by ladywhitenap on Aug 16, 2019 15:29:47 GMT
Now that 67/68 and 85/97/104/105 will be being treated in different ways Is it time to ask a Mod to edit this thread title for one group and kick off a new thread for future posts on the other group?
LW
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Post by df on Aug 16, 2019 18:08:35 GMT
Now that 67/68 and 85/97/104/105 will be being treated in different ways Is it time to ask a Mod to edit this thread title for one group and kick off a new thread for future posts on the other group? LW I can't see any need for editing this thread. If you want to start a new one you can do it yourself, no need for a Mod.
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