boundah
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Post by boundah on Dec 13, 2018 17:02:44 GMT
We are working through it and have a call later on today to discuss the proposals Proposals? How about an update on the events on 67&68? Email just in. ABL are now joint administrators with B***n*** of S***m***. Good news (I think).
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elliotn
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Post by elliotn on Dec 14, 2018 15:12:20 GMT
Proposals? How about an update on the events on 67&68? Email just in. ABL are now joint administrators with B***n*** of S***m***. Good news (I think). Can I check what joint administrators means? (thought that was only insolvency practitioners)
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Post by ablrate on Dec 14, 2018 15:29:34 GMT
Email just in. ABL are now joint administrators with B***n*** of S***m***. Good news (I think). Can I check what joint administrators means? (thought that was only insolvency practitioners) For clarity, we appointed our own Adminstrators jointly with those of the unsecured creditor
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pi
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Post by pi on Dec 14, 2018 15:53:12 GMT
Email just in. ABL are now joint administrators with B***n*** of S***m***. Good news (I think). Can I check what joint administrators means? (thought that was only insolvency practitioners) Err what email? I didn't receive any??
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withnell
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Post by withnell on Dec 14, 2018 15:57:03 GMT
Can I check what joint administrators means? (thought that was only insolvency practitioners) Err what email? I didn't receive any?? They only email if you are directly invested in the loan - if it's in your ISA it would go to the ISA email address not your standard one
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pi
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Post by pi on Dec 14, 2018 16:50:48 GMT
Thanks I am in other loans bought via SM not in 67/68 (fortunately).
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Post by herrbert on Dec 17, 2018 11:39:09 GMT
So 67 and 68 are in administration. 85 is restructured. But what about the others? Every week we are reassured that we will get information imminently. But then nothing happens.
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blender
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Post by blender on Dec 17, 2018 14:19:26 GMT
So 67 and 68 are in administration. 85 is restructured. But what about the others? Every week we are reassured that we will get information imminently. But then nothing happens. Unfortunately, the sole director and shareholder of the other three is also the resigned director and personal guarantor of 85. He is also the guarantor of those other three loans. So we just have the current value of the pubs, imo.
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Monetus
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Post by Monetus on Dec 18, 2018 19:10:22 GMT
When update?
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Post by ablrate on Dec 19, 2018 10:07:24 GMT
We are working through each part of these loans with the borrowers. We have received further information yesterday. If you have been with us for any length of time, you will know that we are thorough and persistent with defaulting loans, these are no different. On that subject there is an update going out on containers loans.
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Post by oktaeder on Jan 5, 2019 13:49:21 GMT
I don't understand what happend with the missing interst repayment of #85 in 10/18. I can't find nothing about this unpaid amount. So it was donated to the borrower?
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blender
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Post by blender on Jan 5, 2019 23:22:07 GMT
Paid 41 days late, according to the site.
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Post by oktaeder on Jan 6, 2019 7:42:24 GMT
Paid 41 days late, according to the site. Yes. THis was a 0ct fake payment.
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Post by Badly Drawn Stickman on Jan 6, 2019 9:50:07 GMT
Paid 41 days late, according to the site. Yes. THis was a 0ct fake payment. Does introduce a new dimension to investing. Is a fake payment better than non payment. I have never had any worthwhile investment in this loan, and may or may not have held it at the relevant time. I am far to lazy to track it down but think from a platform credibility point of view some of you should. Then if necessary Ablrate can explain. They could probably do with some forum activity anyway.
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blender
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Post by blender on Jan 6, 2019 9:55:23 GMT
Really? I do not have this loan. Are you (oktaeder) saying that it is marked as paid but was not paid, or perhaps it was paid as zero? The restructure including a change to 8% interest only (retrospective for missed payments?) as follows:
"Loan Period – the term of the loan is being increased marginally from 36 months to 37 months (i.e. 24 months from November 2018) with a new maturity date of 27th November 2020." This says nothing about the missed October payment.
Another thing to worry about is that although the maturity date in the text is 27th November 2020, the actual last payment in the schedule is 27th October 2020. So something is wrong there. Perhaps the new rates have been wrongfully started with the missed November payment, the term taken back to 36 months, and the previously missed October payment - well, what happened there?
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