huxs
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Post by huxs on Sept 2, 2019 12:56:59 GMT
Am I reading this correctly that this company has picked up the best bits of B*********, B*** M****** and T**** S***** and on top of these loans they are taking out another £2.5m not to pay off those loans but to help restructure the company some more ? As I already have money in all the above loans I think I am out on this loan.
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ptr120
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Post by ptr120 on Sept 2, 2019 13:04:36 GMT
When I try to read the borrowing proposal I get a "File access issue" error. However, it is unlikely I'll be investing. This is the remains of a once failed business that has phoenixed They can have more of my money once they repay what they already have.
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blender
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Post by blender on Sept 2, 2019 13:22:36 GMT
The phoenix comment is not really fair, if that relates to a business owner using administration to lose creditors and to restart with the assets. This is related to retaining and developing the ablrate charged assets and those once charged to another platform, intending to preserve lenders' principal and repay over a longer period. I see this as the parallel to 129. Whether it is an attractive option is a matter of judgement, and personal circumstances on existing loans.
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macq
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Post by macq on Sept 2, 2019 13:22:43 GMT
while i understand there is a obvious distinction and also its mentioned in the paperwork - it does seem like splitting hairs where in the box that says any other loans it says no,when you have A * and their director involved plus the director of another loan that is still filling on Abl at the moment so at the least there is a tenuous connection (there maybe others but i have not looked yet)
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p2pfan
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Post by p2pfan on Sept 2, 2019 14:17:09 GMT
5% (£24,005) snapped up after 17 minutes.
Will be interesting to see how this one pans out over the coming hours.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 2, 2019 14:42:29 GMT
Why no fixed charge security over venues? Just debentures worked really well for CS when they found much of their security was elsewhere. Im afraid promises not to alienate security have proved pretty meaningless in P2P.
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Post by ablrate on Sept 2, 2019 14:55:04 GMT
Why no fixed charge security over venues? Just debentures worked really well for CS when they found much of their security was elsewhere. Im afraid promises not to alienate security have proved pretty meaningless in P2P.
There is an all asset debenture over all operating businesses. Can't comment on CS, as you will appreciate, I will just say its important to cover all operating businesses and the Administration will have wiped out any potential land mines.
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Post by df on Sept 2, 2019 15:15:37 GMT
5% (£24,005) snapped up after 17 minutes. Will be interesting to see how this one pans out over the coming hours. More likely weeks, not hours. This is not the one of 'flying off shelf' type. Considering the circumstances (ABL and other platform pub/club loan saga), this loan is too large and I think following tranches will be even more difficult to fill.
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blender
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Post by blender on Sept 2, 2019 16:40:42 GMT
I had some cash waiting to see this mysterious loan. I saw the enticing image of the drunken hen-night, and then the quiet image of the care home top-up. I decided I would fit more comfortably in the care home. Sad old git .
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macq
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Post by macq on Sept 2, 2019 17:09:44 GMT
I had some cash waiting to see this mysterious loan. I saw the enticing image of the drunken hen-night, and then the quiet image of the care home top-up. I decided I would fit more comfortably in the care home. Sad old git . You may find the clubs previously run it seems by the number Two on the A * F meet the management team page a bit too exciting then
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Post by df on Sept 2, 2019 17:30:10 GMT
I had some cash waiting to see this mysterious loan. I saw the enticing image of the drunken hen-night, and then the quiet image of the care home top-up. I decided I would fit more comfortably in the care home. Sad old git . Care home top up looks more desirable than pub rescue, but I'm already overexposed in care home so put all my waiting cash in 131.
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blender
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Post by blender on Sept 2, 2019 20:32:16 GMT
I had some cash waiting to see this mysterious loan. I saw the enticing image of the drunken hen-night, and then the quiet image of the care home top-up. I decided I would fit more comfortably in the care home. Sad old git . You may find the clubs previously run it seems by the number Two on the A * F meet the management team page a bit too exciting then If that's the consultant who is not a director, then I'll stick with the bowls club. I was also a bit put off by the new 'slimed down' management team, on p.8 But seriously, a enormous amount of work has gone into the combination of this and 129, which reflects great credit on ablrate and the other (main) interests involved. So far one of the BN related Ablrate loans has been fully repaid, and the other six are all the subject of imaginative and ambitious schemes which include the objective of preservation of lender principal. Losses have to fall somewhere, but better to be with the platforms which are best at avoiding the losses when things go wrong. You have to be impressed, if rather nervous.
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jryan
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Post by jryan on Sept 3, 2019 0:00:28 GMT
Well said Blender.
Each one has to make their own minds up I guess but it is definitely an imaginative deal. Personally, I will be avoiding this because I believe that the "security" in this case isn't necessarily 100% reliable and I shy away from deals where the underlying asset can be difficult to value. Having worked in asset backed finance I have seen debentures have a variety of outcomes and, additionally, without the ability to accurately assess and control a PG, it can be hard to assess liquidation value. So I think, especially given the previous administration, that it would be a bit too adventurous for me to get into this one.
However, each to their own and we must all assess our own personal risk.
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seb8072
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Post by seb8072 on Sept 6, 2019 16:15:39 GMT
Now 15%
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p2pfan
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Post by p2pfan on Sept 6, 2019 20:24:54 GMT
Yes, as this is going to struggle to receive the whopping amount of money the borrowers want, the interest has been increased to 15%.
One doesn't have to be a genius to recognise this is a high risk loan, but the higher interest might tempt more people to invest?
Thoughts?
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