p2pfan
Member of DD Central
Full-Time Investor
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Post by p2pfan on Jul 3, 2023 12:11:19 GMT
We've been waiting an awfully long time to get our money back and I most certainly believe that a process should begin in earnest to recover the debt.
However, there's not a chance in hell that Ablrate will enforce the debt.
We've seen this with numerous other Ablrate defaulted loans where, because the borrowers are buddies etc. of Ablrate, Ablrate will do everything possible in their power to not enforce the debt and continually extend them.
Ablrate's hope and wish is that, by extending these loans for years and years, lenders, who are often largely apathetic, will lose interest in them. We see this with how few posts there now are in the Ablrate section of these forums regarding defaulted loans.
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macq
Member of DD Central
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Post by macq on Jul 3, 2023 12:26:05 GMT
is option c - something else a polite way of using the words kick,can,road and quarterly updates?
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macq
Member of DD Central
Posts: 1,924
Likes: 1,192
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Post by macq on Jul 3, 2023 13:21:03 GMT
is option c - something else a polite way of using the words kick,can,road and quarterly updates? I think that is option A, extend the maturity date option A sounded professional - i was going with the more Laissez-faire method
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Post by Ace on Jul 3, 2023 13:41:19 GMT
I think that is option A, extend the maturity date option A sounded professional - i was going with the more Laissez-faire method Is that French for Lassie fare, I.e. dog's breakfast?
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macq
Member of DD Central
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Post by macq on Jul 3, 2023 13:46:18 GMT
option A sounded professional - i was going with the more Laissez-faire method Is that French for Lassie fare, I.e. dog's breakfast? Think Lassie was more reliable
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Jul 3, 2023 14:55:21 GMT
Is that French for Lassie fare, I.e. dog's breakfast? Think Lassie was more reliable Too right; I don't think any of these loans are coming home soon 
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Post by scepticalinvestor on Jul 4, 2023 16:33:44 GMT
"the £2.6m asset should cover much of it" Famous last words!  |
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Post by Badly Drawn Stickman on Jul 5, 2023 14:00:59 GMT
HSBC is the other secured creditor The balance outstanding on 14 Oct 2022 was £704k & HSBC had formally demand repayment on 30 Aug 2022. I wonder how HSBC views the addition of a £2.6m asset to the balance sheet? Looming on the horizon is a convertible loan note. Extended already to 30 Sep 2023, the note gives the lender the right to convert the loan into shares at 1p per share, or to have the cash paid back instead. As the share price is currently 0.575p, the cash option might look the more attractive option to the lender. The sum involved is £475,000 It's looking a bit black over Bill's mother's (I googled to check the expression had left the village and was universal) I'm sure Dave has a master plan and will let us know shortly. He must be pretty busy at the moment with relocating and all that his plate must be pretty full (seems he only photo shoots his meals) In truth none of the problems are new its just that the solution is much older and needs to be given some fairly urgent attention.
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brianlom1
Member of DD Central
He's not the Messiah, he's a very naughty boy!
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Post by brianlom1 on Jul 11, 2023 13:52:49 GMT
When I complained about the poor return on the pub loans, DB-W was quick to point out that lenders had not taken up the option to intervene in those bilateral agreements - perhaps now is the time for lenders to intervene in these bilateral agreements?
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ilmoro
Member of DD Central
'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 Jul 11, 2023 15:07:10 GMT
When I complained about the poor return on the pub loans, DB-W was quick to point out that lenders had not taken up the option to intervene in those bilateral agreements - perhaps now is the time for lenders to intervene in these bilateral agreements? Im not sure that the lenders actually have that option ... at least in a straightforward way ... powers to intervene lie with the Security Agent under the security charges. There have been significant issues of enforcement rights in relation to P2P loans even following standard methods.
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