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Post by scepticalinvestor on Jun 24, 2023 16:36:43 GMT
I'm not sure what periods you are referring to, but according to S Law "Institutional capital has provided 80% of all of Assetz Capital’s lending since 2020". A quote from www.assetzcapital.co.uk/whats-happening-at-assetz-capital/: "The first billion was more than 90% retail funded but, as soon as the pandemic started, it went to nearly 100% institutional funded". The directors report in the accounts up to 31 March 2022 View AttachmentMaybe Stuart forgot to check with his COO/CFO ... not sure Id place a lot of reliance on much Stuart says in relation to the runoff especially in a fluff piece for a magazine Nice one ilmoro. The notion that AC can take a fundamentally unsustainable business milking retail lenders on terms heavily in AC's favour, replace the retail money with institutional money and thus make it sustainable is one for the birds. They've taken the piss time and again, will drag this along for as long as they can, squeezing every penny out of it till the bitter end. The interests of retail lenders simply do not feature in their plans. If that isn't clear by now...
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angrysaveruk
Member of DD Central
Back and to the left..
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Likes: 655
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Post by angrysaveruk on Jun 25, 2023 19:12:47 GMT
I think one or two people are suffering from Stockholm syndrome, wherein they develop an irrational bond with their captors.
If you are suggesting I am suffering from "Stockholm Syndrome" you are very wrong - I jumped out the window with my money before you had even heard of P2P *.
*Free advice for what it is worth - the only people who win in court are lawyers, you go to the casino and lose they wont save you - just rifle you for the change you have left in your blue jeans. One thing that always struck me about AC is they had the legal side of things nailed down - the investment side I was not so sure about.
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Post by garreh on Jun 26, 2023 14:35:07 GMT
I think one or two people are suffering from Stockholm syndrome, wherein they develop an irrational bond with their captors. One thing that always struck me about AC is they had the legal side of things nailed down - the investment side I was not so sure about.
Earlier this year, a determination was made by Ombudsman that the operations of AC were deemed unfair. While the Ombudsman lacks legal authority, it adheres to legal principles and is highly esteemed within the industry. If the Ombudsman rules in favor, there is a significant likelihood that it will carry substantial influence towards an official legal judgment. It is evident that the Ombudsman holds the view that AC's establishment is not entirely in compliance. p2pfinancenews.co.uk/2023/02/07/assetz-found-to-have-treated-customer-unfairly-by-ombudsman/
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jlend
Member of DD Central
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Post by jlend on Jun 27, 2023 5:55:39 GMT
One thing that always struck me about AC is they had the legal side of things nailed down - the investment side I was not so sure about.
Earlier this year, a determination was made by Ombudsman that the operations of AC were deemed unfair. While the Ombudsman lacks legal authority, it adheres to legal principles and is highly esteemed within the industry. If the Ombudsman rules in favor, there is a significant likelihood that it will carry substantial influence towards an official legal judgment. It is evident that the Ombudsman holds the view that AC's establishment is not entirely in compliance. p2pfinancenews.co.uk/2023/02/07/assetz-found-to-have-treated-customer-unfairly-by-ombudsman/It is important to also remember that there are complaints that went to the Ombudsman that were found in favour of lenders but never appear on the Ombudsman register. For example the wind turbine loans where AC agreed to settle early so the Ombudsman never needed to publish their ruling for some lenders. What you see on the register isn't all the successful claims. The wind turbine loans are an interesting example as most of the compensation AC took from deemed excess in the Access Account provision funds, something that clearly isn't possible for any future cases.
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Post by bob2010 on Jun 27, 2023 7:25:18 GMT
Speaking of Ombudsman, has anyone heard anything from them regarding the complaints?
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duck
Member of DD Central
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Post by duck on Jun 27, 2023 9:53:06 GMT
Speaking of Ombudsman, has anyone heard anything from them regarding the complaints? Still waiting for a caseworker (complaint lodged in Feb), update within the last week saying probably another 4-6 months to wait.
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rscal
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Post by rscal on Jun 27, 2023 11:19:35 GMT
Speaking of Ombudsman, has anyone heard anything from them regarding the complaints? Still waiting for a caseworker (complaint lodged in Feb), update within the last week saying probably another 4-6 months to wait. My 'awaiting allocation' letter came on 12th June and it doesn't go into times. Instead it says:
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