ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,908
Likes: 11,132
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Post by ilmoro on May 21, 2018 16:45:02 GMT
Update received.
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TFTO
Member of DD Central
Posts: 143
Likes: 71
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Post by TFTO on May 21, 2018 18:28:43 GMT
Looks like it will be never ending with all the time admin costs racking up.
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hazellend
Member of DD Central
Posts: 2,361
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Post by hazellend on May 21, 2018 18:35:50 GMT
Looks like it will be never ending with all the time admin costs racking up. Can’t we just get him arrested for fraud?
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TitoPuente
Member of DD Central
Posts: 623
Likes: 655
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Post by TitoPuente on May 21, 2018 20:12:36 GMT
It appears that the charged assets were illegally sold? If this is the case then there is scope for criminal prosecution.
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TFTO
Member of DD Central
Posts: 143
Likes: 71
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Post by TFTO on May 21, 2018 20:31:14 GMT
It appears that the charged assets were illegally sold? If this is the case then there is scope for criminal prosecution. From the loan details "He is looking to finance the import of 50 x 20’ containers into the UK. Purchase of such containers is normally done at 28 days notice and so peak value will be achieved when they are in transit. Due to his experience and large customer base, the borrower anticipates no problem in re-selling the containers whilst they are en route or upon arrival and before maturity of the loan." Therefore, selling the containers was not a problem - forgetting to repay the loan was.
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ianj
Member of DD Central
Posts: 654
Likes: 519
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Post by ianj on May 21, 2018 21:06:17 GMT
It appears that the charged assets were illegally sold? ......... What about the elephant in the room? The uncharged, but equally conspicuious by their absence, assets don't get a mention!
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TitoPuente
Member of DD Central
Posts: 623
Likes: 655
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Post by TitoPuente on May 23, 2018 21:54:47 GMT
It appears that the charged assets were illegally sold? If this is the case then there is scope for criminal prosecution. From the loan details "He is looking to finance the import of 50 x 20’ containers into the UK. Purchase of such containers is normally done at 28 days notice and so peak value will be achieved when they are in transit. Due to his experience and large customer base, the borrower anticipates no problem in re-selling the containers whilst they are en route or upon arrival and before maturity of the loan." Therefore, selling the containers was not a problem - forgetting to repay the loan was. No sale should have completed before loan repayment. Otherwise what’s the point of asset security if it can be freely disposed before the loan is repaid?
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Steerpike
Member of DD Central
Posts: 1,962
Likes: 1,680
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Post by Steerpike on Jun 21, 2018 17:01:49 GMT
Recently, another platform repaid lenders and took on the loan while the borrower was pursued.
I wonder if there is any prospect of this happening on this loan, particularly given the reassurance given to investors.
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Post by ablrate on Jul 19, 2018 4:59:13 GMT
Hi nsinvestor It would be preferrable if our updates were not made public. Although we want to keep lenders up to date, the publication of these updates is precisely why we don't really want to go into any detail at all. It's a bit like Brexit.. Europe knows what's coming because our politicians telegraph everything and can prepare.. we would rather that not be the case here.
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ptr120
Member of DD Central
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Post by ptr120 on Jul 19, 2018 5:39:18 GMT
Hi ablrate was a recent email sent out about this?. Although I agree that it might not be helpful to have them published verbatim on here it is a helpful flag as I didn't receive an update - I haven't had a problem of receiving your emails in the past.
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mason
Member of DD Central
Posts: 662
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Post by mason on Jul 19, 2018 5:45:59 GMT
Hi ablrate was a recent email sent out about this?. Although I agree that it might not be helpful to have them published verbatim on here it is a helpful flag as I didn't receive an update - I haven't had a problem of receiving your emails in the past. No update received here either, and it would be a first if one was sent but I didn't receive it. Edit: there wasn't an email, the quoted text is from an admin note added to the loan. It would have been nice if there was a notification that the update had been posted.
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nsinvestor
Member of DD Central
Posts: 105
Likes: 110
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Post by nsinvestor on Aug 13, 2018 18:41:02 GMT
Hi nsinvestor It would be preferrable if our updates were not made public. Although we want to keep lenders up to date, the publication of these updates is precisely why we don't really want to go into any detail at all. It's a bit like Brexit.. Europe knows what's coming because our politicians telegraph everything and can prepare.. we would rather that not be the case here. ablrate sorry, I don't recall posting anything on this particular thread. Very strange. Regardless, I understand your comments so please accept my apologies. In general and compared with some other platforms, the information shared on the ABLRate site is reasonably informative and appreciated by your investors (including myself).
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Steerpike
Member of DD Central
Posts: 1,962
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Post by Steerpike on Sept 4, 2018 15:26:37 GMT
There was an update on 21st May 2018, something about lifting veils and "a clear path now in site", I wasn't entirely sure what that meant but it sounded hopeful.
Has anyone heard anything more recently concerning the December 2015 and January 2016 C******m loans?
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r00lish67
Member of DD Central
Posts: 2,691
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Post by r00lish67 on Sept 11, 2018 12:25:29 GMT
ablrate , we're rapidly approaching 4 months now since the last update (unless I've missed a more recent one) , is there any further news on just how high that veil has been lifted?
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ptr120
Member of DD Central
Posts: 1,198
Likes: 1,346
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Post by ptr120 on Sept 17, 2018 18:49:36 GMT
Hi ablrate another gentle nudge on this please. I'd suggest that an update would be timely.
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