Post by mrclondon on Aug 28, 2017 17:07:35 GMT
The directors of A***** B******* and F******* Ltd have filed at companies house for voluntary stike off of the company, companies house are flagging the Gazette notice is due for publication tomorrow (29th Aug).
ABF is (was ?) of course the sister company to BLX with whom all the asset backed loans were written. I assume (parag can you confirm please) that at the very least there is a gentlemans agreement that BLX (or a.n.other) will continue to repay the two outstanding loans to ABF on a monthly basis.
In the absense of any formal update from FE that the ABF debt has been formally transferred to BLX (or a.n.other) I have today sold the small amount I had in loans 2 and 3 at par. Why ? The main reason is that if FE were to fold, the administrator/liquidator may struggle to collect on these unsecured loans, and as a minor consideration loan 3 runs beyond the maturity date of the last of the secured BLX loans, at which point its not inconceiveable that BLX is similiarly wound up. (Unnecessary caution on my part almost certainly, but for the small amount at 12% it was not worth keeping and wondering)
ABF is (was ?) of course the sister company to BLX with whom all the asset backed loans were written. I assume (parag can you confirm please) that at the very least there is a gentlemans agreement that BLX (or a.n.other) will continue to repay the two outstanding loans to ABF on a monthly basis.
In the absense of any formal update from FE that the ABF debt has been formally transferred to BLX (or a.n.other) I have today sold the small amount I had in loans 2 and 3 at par. Why ? The main reason is that if FE were to fold, the administrator/liquidator may struggle to collect on these unsecured loans, and as a minor consideration loan 3 runs beyond the maturity date of the last of the secured BLX loans, at which point its not inconceiveable that BLX is similiarly wound up. (Unnecessary caution on my part almost certainly, but for the small amount at 12% it was not worth keeping and wondering)
