sarahcount
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Post by sarahcount on Aug 12, 2019 19:42:27 GMT
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registerme
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Post by registerme on Aug 12, 2019 20:59:43 GMT
That was the only one I could find that satisfied both criteria.
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amwinv
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Post by amwinv on Aug 12, 2019 21:08:50 GMT
That was the only one I could find that satisfied both criteria. I'm pretty sure that is just a strategically painted conker.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Aug 12, 2019 21:14:51 GMT
That was the only one I could find that satisfied both criteria. I'm pretty sure that is just a strategically painted conker. Yeah, and I've had it Valued at about a £Mill.
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coop
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Post by coop on Aug 20, 2019 13:55:48 GMT
Luckily I'm only really in the Ferrari with tiny amounts in the boat and stocking facility - I'm optimistic of a 50%+ recovery, but this could be optimistic depending on how big the other loan was when it was double financed...
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11025
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Post by 11025 on Aug 20, 2019 14:05:33 GMT
Luckily I'm only really in the Ferrari with tiny amounts in the boat and stocking facility - I'm optimistic of a 50%+ recovery, but this could be optimistic depending on how big the other loan was when it was double financed... I am in the Ferrari and I certainly won't be happy with anything less than a 100% recovery.
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coop
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Post by coop on Aug 20, 2019 14:13:44 GMT
Luckily I'm only really in the Ferrari with tiny amounts in the boat and stocking facility - I'm optimistic of a 50%+ recovery, but this could be optimistic depending on how big the other loan was when it was double financed... I am in the Ferrari and I certainly won't be happy with anything less than a 100% recovery. Have you read the updates so far? I wouldn't be too hopeful about 100% recovery as it's been double financed - it was valued at £120k and MT lent £60k against it - if the other party also lent £60k then we're at 100% LTV already and there will be various fees etc to pay too... it culd be the car goes to auction and reaches a higher price but I wouldn't hold your breath. With the best will in the world if the other charge against this car is over £40k then a full capital recovery is highly unlikely.
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11025
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Post by 11025 on Aug 20, 2019 14:16:14 GMT
I am in the Ferrari and I certainly won't be happy with anything less than a 100% recovery. Have you read the updates so far? I wouldn't be too hopeful about 100% recovery as it's been double financed - it was valued at £120k and MT lent £60k against it - if the other party also lent £60k then we're at 100% LTV already and there will be various fees etc to pay too... it culd be the car goes to auction and reaches a higher price but I wouldn't hold your breath. With the best will in the world if the other charge against this car is over £40k then a full capital recovery is highly unlikely. Sure I have .
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coop
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Post by coop on Aug 20, 2019 14:27:15 GMT
Have you read the updates so far? I wouldn't be too hopeful about 100% recovery as it's been double financed - it was valued at £120k and MT lent £60k against it - if the other party also lent £60k then we're at 100% LTV already and there will be various fees etc to pay too... it culd be the car goes to auction and reaches a higher price but I wouldn't hold your breath. With the best will in the world if the other charge against this car is over £40k then a full capital recovery is highly unlikely. Sure I have . So how do you expect it to recover 100%? Or do you expect to be unhappy?
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11025
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Post by 11025 on Aug 20, 2019 14:32:56 GMT
So how do you expect it to recover 100%? Or do you expect to be unhappy? Because someone has got it badly wrong here and it isn't you or I
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withnell
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Post by withnell on Aug 20, 2019 14:41:48 GMT
So how do you expect it to recover 100%? Or do you expect to be unhappy? Because someone has got it badly wrong here and it isn't you or I It sounds like it needs to go to court in some format to determine priority of charges - I would expect that the charge at Companies House being registered first should take priority, but this appears to deviate from the industry practice of applying HPI markers. This line of argument only works where MT had the first charge registered so strategy will depend on when each asset has been charged
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11025
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Post by 11025 on Aug 20, 2019 14:48:52 GMT
Because someone has got it badly wrong here and it isn't you or I It sounds like it needs to go to court in some format to determine priority of charges - I would expect that the charge at Companies House being registered first should take priority, but this appears to deviate from the industry practice of applying HPI markers. This line of argument only works where MT had the first charge registered so strategy will depend on when each asset has been charged Everything shown on the loan listing confirms first charge.
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adrianc
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Post by adrianc on Aug 20, 2019 14:49:34 GMT
So how do you expect it to recover 100%? Or do you expect to be unhappy? Because someone has got it badly wrong here and it isn't you or I Lovely, an' all, but there's a world of difference between pointing the finger of blame, and getting money on the table. Only one of the two actually matters. So, given that we've got a car worth £120k, and two sets of people each promised a chunk of that money once it's been sold and fees paid, how do you expect everybody to walk away happily recompensed...?
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11025
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Post by 11025 on Aug 20, 2019 14:51:24 GMT
Because someone has got it badly wrong here and it isn't you or I Lovely, an' all, but there's a world of difference between pointing the finger of blame, and getting money on the table. Only one of the two actually matters. So, given that we've got a car worth £120k, and two sets of people each promised a chunk of that money once it's been sold and fees paid, how do you expect everybody to walk away happily recompensed...? An indemnity is given when a check is made.
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coop
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Post by coop on Aug 20, 2019 15:16:28 GMT
Just a very truncated quote as don't wish to put stuff in public domain without MTs permission but they and the other lender agreed "it is in both our interests to resolve the matter without incurring further legal fees" I would assume from this they will just look to split any recovery ina fair way - probably in the same ratio of the size of the charges - thus avoiding further legal fees to try to establish priority over the other lender. I would also assume some fees have been incurred already due to the use of the word "further"
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