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Post by df on Feb 28, 2023 22:41:52 GMT
Any idea how much we can expect from DFL012? Its my biggest holding. Just checked and my interest is about to surpass my initial investment, its been so long. We've already been repaid 45.5% in Oct 2019, so I wouldn't expect much from this interim distribution.
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r1200gs
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Post by r1200gs on Mar 1, 2023 13:25:33 GMT
Any idea how much we can expect from DFL012? Its my biggest holding. Just checked and my interest is about to surpass my initial investment, its been so long. We've already been repaid 45.5% in Oct 2019, so I wouldn't expect much from this interim distribution. I too thought I had seen all I was going to see from DFL 12, a complete and utter horror for me. By very far my largest holding, so confident was I that nothing could go wrong with this sought after and prestigious development that was all but finished sold out. Where the frecking hell did 55 percent of the money go?! Anyone know if there is anything substantial to come from 003 and 022? Before I get my hopes up over nothing? And still no sign of a withdrawal made on the 4th Feb.
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c88dnf
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Post by c88dnf on Mar 1, 2023 16:58:41 GMT
FWIW, my payments so far of the 2023 distributions have been: Requested 05/01: into bank 16/01 (7 working days) Requested 12/01: into bank 31/01 (13 working days) Requested 19/01: into bank 08/02 (14 working days) Requested 02/02: perhaps 22/02? Very tedious, but less tedious than no money back at all. Just to close the list posted way back, the Feb 2nd request appeared at my bank today, March 1st. That's 19 working days by my reckoning. Kaizen isn't a notable feature of the administration. Anyone fancy staking their bids on how long tomorrow's distribution takes to get - ahem - distributed?
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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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MONEY! (L)
Mar 1, 2023 17:55:06 GMT
via mobile
df likes this
Post by ilmoro on Mar 1, 2023 17:55:06 GMT
We've already been repaid 45.5% in Oct 2019, so I wouldn't expect much from this interim distribution. I too thought I had seen all I was going to see from DFL 12, a complete and utter horror for me. By very far my largest holding, so confident was I that nothing could go wrong with this sought after and prestigious development that was all but finished sold out. Where the frecking hell did 55 percent of the money go?! Anyone know if there is anything substantial to come from 003 and 022? Before I get my hopes up over nothing? And still no sign of a withdrawal made on the 4th Feb. It wasn't finished at all, still needed lot of cash. Probably other projects within the group. Potentially an oddity DFL012 as it was recovered pre-admin so sums due RSM/Lendy likely to be minimal. DFL022/003 - no, less than 10% return indicated on LAG FB As per latest update, withdrawals up to 2/2 currently
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trevor
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Post by trevor on Mar 1, 2023 23:23:38 GMT
Still no cash from my 2 Feb withdrawal. Arrived today
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cmep
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Post by cmep on Mar 2, 2023 9:43:40 GMT
Made a withdrawal request on 6 February - still nothing in my bank account! It really is very frustrating that our money has been tied up all this time and then when a tiny bit of it becomes available it takes them a month to process the payment! Someone is not doing their job!!
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jo
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Post by jo on Mar 2, 2023 11:20:58 GMT
Stand down. now 3rd.
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r1200gs
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Post by r1200gs on Mar 2, 2023 17:12:22 GMT
Not much to get exited about, so not standing to attention in the first place.
Sometimes I genuinely wonder if it were better that I never heard about this ever again and could put it behind me.
Every time I recieve a small fraction of the money I put in, I see my mental health take a massive dive.
The more you receive the more you lost.
Where's that fecking whiskey...
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Post by Badly Drawn Stickman on Mar 2, 2023 17:38:14 GMT
Not much to get exited about, so not standing to attention in the first place. Sometimes I genuinely wonder if it were better that I never heard about this ever again and could put it behind me. Every time I recieve a small fraction of the money I put in, I see my mental health take a massive dive. The more you receive the more you lost. Where's that fecking whiskey... As they keep telling me at the AA meetings, the answer is never at the bottom of a bottle. I share your pain though, never has receiving money been such a bittering experience as in this case.
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mickj
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Post by mickj on Mar 3, 2023 9:15:04 GMT
A few more penny's in my account this morning.
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adrianc
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Post by adrianc on Mar 3, 2023 9:29:21 GMT
About 11% of my outstanding balance repaid now...
Unfortunately, only 4 out of 29 loans haven't paid anything yet.
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gustapher
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Post by gustapher on Mar 3, 2023 9:44:25 GMT
Sorry if this has been covered elsewhere, but what is the justification for retaining 25% of the recoveries? Do we get the interest on that cash or do they just pocket it?
On DFL12, there is a 25% retention totalling £1.7m! They then charge £6k to distribute £161k (absurd in itself), and then leave a retained balance on top of that of £77k. At the very least why is the £77k not distributed?
What a bunch of shysters.
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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 Mar 3, 2023 10:05:29 GMT
Sorry if this has been covered elsewhere, but what is the justification for retaining 25% of the recoveries? Do we get the interest on that cash or do they just pocket it? On DFL12, there is a 25% retention totalling £1.7m! They then charge £6k to distribute £161k (absurd in itself), and then leave a retained balance on top of that of £77k. At the very least why is the £77k not distributed? What a bunch of shysters. As per proticol. The retention is to cover RSM & Lendy realisation costs/fees (different to third party costs already claimed). For some reason they have decided to split to 35% into the two separate components defined in the protocol, 25% (general combined) & 10% (loan specific) ... that's the £77k ... perhaps because they are claiming some of the specific costs upfront in the distribution cost. The retention will be retained until the Court has signed off the deferred issues protocol & the costs have been agreed with the LAG committee, then RSM/Lendy will get it's dues & any remainder paid to lenders
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gustapher
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Post by gustapher on Mar 3, 2023 10:13:58 GMT
Wow - what a ripoff. Thanks for the explanation.
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adrianc
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Post by adrianc on Mar 3, 2023 12:42:07 GMT
Sorry if this has been covered elsewhere, but what is the justification for retaining 25% of the recoveries? Do we get the interest on that cash or do they just pocket it? On DFL12, there is a 25% retention totalling £1.7m! They then charge £6k to distribute £161k (absurd in itself), and then leave a retained balance on top of that of £77k. At the very least why is the £77k not distributed? What a bunch of shysters. The retention is there for any fees yet to arise. When everything's settled, the balance of that will be distributed. They could have retained the lot until everything was settled...
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