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Post by Badly Drawn Stickman on Dec 2, 2020 16:16:27 GMT
Didn't you appoint them? Regardless, you are able to ask them if they have posted a letter and I am not, therefore an update on if the letter bes been sent doesn't seem too unreasonable. We did appoint them... but after that they are there to work on behalf of all creditors, and unfortunately not at our beck and call (which would be nice). We recently sent a pretty direct email asking for a detailed response to our queries. Taking a wagging finger as the benchmark and assuming 'a chase' is one tier down. Where would a 'pretty direct email' sit? Disclaimer. Not in this loan, just amusing myself (which in my world is sometimes enough).
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Steerpike
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Post by Steerpike on Jan 7, 2021 11:38:11 GMT
Didn't you appoint them? Regardless, you are able to ask them if they have posted a letter and I am not, therefore an update on if the letter bes been sent doesn't seem too unreasonable. We did appoint them... but after that they are there to work on behalf of all creditors, and unfortunately not at our beck and call (which would be nice). We recently sent a pretty direct email asking for a detailed response to our queries. These loans were defaulted 4.5 years ago and The Man from Mars might reasonably infer that there will never be a return to lenders, so will the ABL Tax Statement for this year show these as written off?
09/07/2016 - This loan has been placed in default. We have engaged lawyers and our pursuing the assets and the funds. We will keep you informed.
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r00lish67
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Post by r00lish67 on Jan 7, 2021 11:46:30 GMT
We did appoint them... but after that they are there to work on behalf of all creditors, and unfortunately not at our beck and call (which would be nice). We recently sent a pretty direct email asking for a detailed response to our queries. These loans were defaulted 4.5 years ago and The Man from Mars might reasonably infer that there will never be a return to lenders, so will the ABL Tax Statement for this year show these as written off?
09/07/2016 - This loan has been placed in default. We have engaged lawyers and our pursuing the assets and the funds. We will keep you informed.
The man from Mars might, but I certainly don't (although yes it might look like I'm from Mars, a coincidence I assure you). From the outset, we have been explicitly promised by Ablrate that we would not lose out. We also at various stages have been assured of "a clear path" to resolution and most recently of impending legal action. edit: That this has dragged on for far too long, I couldn't agree more.
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squid
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Post by squid on Jan 7, 2021 12:52:18 GMT
4.5 years in default does seem an extraordinarily long time in this case. In 1930, the Empire State Building was constructed in just over 12 months. Puts it into perspective really.
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ptr120
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Post by ptr120 on Jan 7, 2021 12:57:11 GMT
From the outset, we have been explicitly promised by Ablrate that we would not lose out. We also at various stages have been assured of "a clear path" to resolution and most recently of impending legal action. edit: That this has dragged on for far too long, I couldn't agree more. This. Given the promises made, I'm surprised that ablrate haven't taken the loan on themselves to await resolution (and pay us out) as it'd probably be less costly to them in the long run
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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 Jan 7, 2021 13:13:12 GMT
From the outset, we have been explicitly promised by Ablrate that we would not lose out. We also at various stages have been assured of "a clear path" to resolution and most recently of impending legal action. edit: That this has dragged on for far too long, I couldn't agree more. This. Given the promises made, I'm surprised that ablrate haven't taken the loan on themselves to await resolution (and pay us out) as it'd probably be less costly to them in the long run Not I believe an option under FCA rules, would have to be a related party.
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ptr120
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Post by ptr120 on Jan 7, 2021 14:31:11 GMT
There are a number of related parties that I'd have thought could take that on. Or they could create a new entity for zombie assets like the banks did after the financial crash
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jonno
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nil satis nisi optimum
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Post by jonno on Jan 7, 2021 14:38:21 GMT
These loans were defaulted 4.5 years ago and The Man from Mars might reasonably infer that there will never be a return to lenders, so will the ABL Tax Statement for this year show these as written off?
09/07/2016 - This loan has been placed in default. We have engaged lawyers and our pursuing the assets and the funds. We will keep you informed.
The man from Mars might, but I certainly don't (although yes it might look like I'm from Mars, a coincidence I assure you). From the outset, we have been explicitly promised by Ablrate that we would not lose out. We also at various stages have been assured of "a clear path" to resolution and most recently of impending legal action. edit: That this has dragged on for far too long, I couldn't agree more. Me thinks "The Man from Mars" is talking out of Uranus
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ptr120
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Post by ptr120 on Jan 22, 2021 12:31:39 GMT
Hi ablrate. Did your direct email asking for a detailed response to our queries at the start of December elicit any kind of response? Would you be able to share that response? What about a court date for the borrower - are we any closer?
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ptr120
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Post by ptr120 on Jan 27, 2021 13:18:02 GMT
Hi ablrate you don't seem to have replied to my previous question so I thought I'd let you know that a CH alert has informed me that the liquidator has filed their progress report. No doubt they have sent a copy to you as a courtesy, so I wonder if they answered your questions in the same email by any chance? It'd be great to have some commentary to go with the report when it is available in the next few days.
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ptr120
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Post by ptr120 on Jan 28, 2021 8:04:47 GMT
Hi ablrate as the report is now available on the CH website, could we please have your commentary to go with it? I expect that you have spoken to the administrator since your last update so I'd quite like an update please.
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ptr120
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Post by ptr120 on Feb 11, 2021 16:21:30 GMT
Hi ablrate just a quick bump on this loan which is well overdue an update - can you please provide one?
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r00lish67
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Post by r00lish67 on Mar 12, 2021 11:12:22 GMT
Is there any reason we're yet to have an update on the container loans, ablrate ? Could you please advise.
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Post by ablrate on Mar 12, 2021 13:56:16 GMT
Is there any reason we're yet to have an update on the container loans, ablrate ? Could you please advise. We have had nothing back from the IP as yet on their planned action.
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ptr120
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Post by ptr120 on Mar 12, 2021 16:19:53 GMT
ablrate You must be getting quite frustrated with the IP. Afterall it was early December when you recently sent a pretty direct email asking for a detailed response to our queries. For them to have not responded since then would appear rather unprofessional on their part. Have you raised a complaint following their complaints procedure?
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