squid
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Post by squid on Jan 7, 2020 14:26:45 GMT
..And a Financial Ombudsman Service adjudicator upheld complaints about these particular loans. Unfortunately the company went into administration before compensation was paid..
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adrian77
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Post by adrian77 on Jan 8, 2020 11:58:03 GMT
totally agree - something very wrong here - personally I guess the pussycat sponsor took legal action against these clowns which has finally been settled - we don't even know if there are 2 or 1 boats (my money is on 1) and whether it has a motor! I will be surprised if we get over £50K back which is not very impressive as I think the total lent was about £1m
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11025
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Post by 11025 on Jan 8, 2020 12:24:02 GMT
totally agree - something very wrong here - personally I guess the pussycat sponsor took legal action against these clowns which has finally been settled - we don't even know if there are 2 or 1 boats (my money is on 1) and whether it has a motor! I will be surprised if we get over £50K back which is not very impressive as I think the total lent was about £1m and the FCA don't believe this is worthy of an investigation.....
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adrian77
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Post by adrian77 on Jan 9, 2020 10:58:30 GMT
update to my last post - forget to say - who is actually paying for the storage of this boat or boats - I guess the administrators or to put another way - we are!
So if this boat or boats ends up being in a fire sale there will be a massive loss for the loan holders and the monies realised may not possibly even repay the administrators fee etc and so all of us end up paying for it as the lenders' pot is reduced.
I am not even convinced this boat or boats can even be sold - especially if there is no engine!
If only FS had cut "their" losses on this one as some of us has wished...
Don't forget - "organic growth - it's a process"
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Feb 18, 2020 13:38:45 GMT
Given the appalling history of these two Loans, let alone the ludicrous "forbearance", WHY on earth have the Administrators taken SO long to act?
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jonno
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nil satis nisi optimum
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Post by jonno on Feb 18, 2020 13:47:45 GMT
Given the appalling history of these two Loans, let alone the ludicrous "forbearance", WHY on earth have the Administrators taken SO long to act? I suppose it doesn't matter that much in the greater scheme of things given the age of these/this boat(s). I'm still no clearer from the updates whether there is one or two.
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Post by banffy on Feb 26, 2020 13:52:37 GMT
What is happening with this Powerboat? Looks like FS wrote that update I'm only due £6,153 in interest and will be lucky to see 50p from the capital so forget about interest.
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rogerthat
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Post by rogerthat on Feb 26, 2020 14:16:43 GMT
Oh well..it could be worse. I'm owed £8497.88 interest from the Art Loans To put that into context..I was 12th in the investor totals
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Post by wildlife2 on Feb 27, 2020 16:01:10 GMT
Part payment by the end of the week?
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Post by brightspark on Feb 27, 2020 16:11:31 GMT
Which week in which month and in which year?
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Post by banffy on Feb 27, 2020 16:34:17 GMT
Yep 50p
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mariner
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Post by mariner on Mar 7, 2020 21:38:21 GMT
Which week in which month and in which year? Bang on Well. surprise, surprise, no partial repayment CG are, I fear being conned again by these borrowers in the same way as FS were How long can this farce go on for?
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ozboy
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Post by ozboy on Mar 8, 2020 17:15:36 GMT
"Mar 30, 2017 at 5:09pm
Apologies if there's already a thread on this but I couldn't find it so obvs starting this one.
I know that Defaulting this Loan means a rather difficult (impossible) Asset to sell, however, I mean, NO contact in 20 days from the Borrower AND over five months late.
Time to Default, wot think you peeps?"
OzBoy knows best.
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adrian77
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Post by adrian77 on Mar 8, 2020 20:50:11 GMT
just checked these boat loans were issued nearly 4 years ago - the first one was issued even before T May became PM - talk about ancient history! Of course Ozboy is right and these damn boats should have been repossessed 3.5 years ago - I guess we will end-up paying for the storage and I am still puzzled as to how many boats there are and also how many still have the original engine! Not sure which is worth the more - the engine or the hull? But are boats over 5 years old still able to compete in modern sports - next time I see Louis Hamilton in Monaco I will ask him how many 5 year old cars he drives for Mercedes-AMG Petronas
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Post by banffy on Apr 3, 2020 15:51:32 GMT
5818112533- Was the payment received for this loan anyone received any info from Administration? Long overdue the payment expected end of Feb.
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