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Post by Badly Drawn Stickman on Apr 4, 2019 12:07:56 GMT
Update notifying an extension to end April now on the website. Thanks LW A little curious really, given that current best case is an exit at the end of May. No mention at all of the overdue interest may indicate something.
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averageguy
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Post by averageguy on Apr 30, 2019 15:21:03 GMT
MT thanks for the latest update ...but can you inform us what the borrower is doing to bring the interest up to date...still selling assets?
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Post by ladywhitenap on May 29, 2019 10:54:33 GMT
MoneyThingThe completion date of 31/5 does not seem realistic given the last update. Can we have a revised date based on chances of sale completion please? LW
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jul 11, 2019 13:56:15 GMT
Close of Business Today is seven days MT, Update please.
DON'T "Do an FS."
"04/07/2019 - We have provided a short 7-day extension for...."
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averageguy
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Post by averageguy on Jul 19, 2019 21:55:44 GMT
Update on site
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Post by Badly Drawn Stickman on Jul 30, 2019 21:13:14 GMT
What in the current climate, I would class as a promising update on the platform this evening.
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averageguy
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Post by averageguy on Jul 30, 2019 22:53:48 GMT
What in the current climate, I would class as a promising update on the platform this evening. Lol....it’s a better update than the one I was referring too
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toffeeboy
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Post by toffeeboy on Jul 31, 2019 11:12:11 GMT
What in the current climate, I would class as a promising update on the platform this evening. News on the actual sale would have been appreciated seeing as the previous update mentioned it falling through. Interest payment could merely be papering over the cracks.
They are still behind on interest so I wouldn't call it promising.
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averageguy
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Post by averageguy on Jul 31, 2019 11:15:57 GMT
What in the current climate, I would class as a promising update on the platform this evening. News on the actual sale would have been appreciated seeing as the previous update mentioned it falling through. Interest payment could merely be papering over the cracks.
They are still behind on interest so I wouldn't call it promising.
Without wishing to appear pedantic it mentioned it COULD be ..not that it was ..anyway I am with Village Idiot who did qualify his remarks ...plus they did state they expect an update shortly so maybe you will get your wish soon
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ali
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Post by ali on Jul 31, 2019 11:25:21 GMT
What in the current climate, I would class as a promising update on the platform this evening. News on the actual sale would have been appreciated seeing as the previous update mentioned it falling through. Interest payment could merely be papering over the cracks.
They are still behind on interest so I wouldn't call it promising.
I would call it very promising. The borrower has paid back just over 3% of the principal. That suggests to me that they have confidence that the property will sell for more than the loan value. It doesn't guarantee that they are right, of course, but they are probably best placed to know.
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78
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Post by 78 on Sept 19, 2019 18:48:10 GMT
I don't see how this loan can possibly be resolved without the appointment of an administrator and a B****** H**** style Court case to determine who receives what in respect of all the prior unilateral notices and agreements registered on the charges register. The sponsor has refused to provide the name of the person who gave the information contained in the information pack. Clearly no purchaser can proceed to purchase the property until these unilateral notices etc have been removed by a court.
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78
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Post by 78 on Sept 24, 2019 15:40:25 GMT
asociated company just had receiver appointed
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upperdeane
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Post by upperdeane on Sept 27, 2019 17:27:48 GMT
Update on MT site
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78
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Post by 78 on Oct 8, 2019 5:14:54 GMT
My own estimate is that lenders in the first TC and Moneything loans may only receive about 4p in the pound from the sale of the property (a 96% loss). It is possible that they will even receive nothing from the sale of the property (as happened with the next door title) where the administrator and then liquidator spent in excess of £42,000 trying to "clean" the "dirty" title without success and after 5 years trying eventually disclaimed the property. Both MT and TC are well aware of the true position but have not informed lenders.
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upperdeane
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Post by upperdeane on Oct 8, 2019 12:19:35 GMT
My own estimate is that lenders in the first TC and Moneything loans may only receive about 4p in the pound from the sale of the property (a 96% loss). It is possible that they will even receive nothing from the sale of the property (as happened with the next door title) where the administrator and then liquidator spent in excess of £42,000 trying to "clean" the "dirty" title without success and after 5 years trying eventually disclaimed the property. Both MT and TC are well aware of the true position but have not informed lenders. 78 can you confirm something for me please as you say " Moneything loans may only receive about 4p in the pound". Two questions: - Are you suggesting that this MT loan (FPAA664) may only receive 4p in the pound? - Is your statement " Moneything loans" implying more MT loans may fall into the 4p in the pound recovery category? Also, I'm curious - As this loan is still trading on the MT secondary market, if things are really this dire as you outline i just don't understand why people aren't selling loan parts at a much greater discount than they currently are. I'm just trying to make sure i'm crystal clear in my mind on what you are suggesting here. Any further clarification greatly appreciated.
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