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Post by Badly Drawn Stickman on Aug 15, 2018 21:02:40 GMT
Out of curiosity how much are they looking to borrow, I'm guessing somewhat more than the current amount? £1.125m @ 7.5% over 48 months Thank you. Without doing the maths could be enough to cover the bonus in the extra amount (presumably the asset has gained value, as they do). The bonus would also be a bit higher as well by next week?
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bg
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Post by bg on Aug 16, 2018 5:34:02 GMT
£1.125m @ 7.5% over 48 months Thank you. Without doing the maths could be enough to cover the bonus in the extra amount (presumably the asset has gained value, as they do). The bonus would also be a bit higher as well by next week? Could be and either way the borrower may just pay it anyway to get L off their back (it's only a few grand). I figured it's a free hit anyway....
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Post by spareapennyor2 on Aug 20, 2018 16:04:39 GMT
ESTIMATED DRAWDOWN 21st August 2018
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capucino
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Post by capucino on Aug 21, 2018 10:57:27 GMT
waw, from 12% to 7.5%.
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withnell
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Post by withnell on Aug 21, 2018 15:35:00 GMT
And yet the Turnaround Specialist proposes only a partial repayment to Lendy...
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empirica
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Post by empirica on Aug 21, 2018 16:33:56 GMT
And yet the Turnaround Specialist proposes only a partial repayment to Lendy... How so? Last update (17/08): (That said, I remember first reading this and thinking: Lendy have announced to investors that there is a 'sufficient' offer on the table. Lendy then go on to state they've "proposed terms" to the borrower. If the deal doesn't happen, the perception will be that Lendy's 'terms' broke it. Lendy might look back and wish they'd worded things differently.)
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elliotn
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Post by elliotn on Aug 22, 2018 5:21:21 GMT
Sufficient to: - pay “part” of the accrued interest/bonus - repay “all” capital and accrued interest - stop me betting the wife’s medical expenses on whether all bonus was being paid  |
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Post by spareapennyor2 on Aug 22, 2018 15:17:30 GMT
can no longer see this on the other site #802
looks like its pulled?
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bg
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Post by bg on Aug 22, 2018 15:24:09 GMT
can no longer see this on the other site #802 looks like its pulled? Yep they just pulled it. Some last minute problem.
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trevor
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Post by trevor on Sept 5, 2018 13:52:31 GMT
Given that interest isn't being paid and the receiver is about to be called in I reckon this should be on their non performing list, not available. In theory they could be giving this to Lendy Wealth accounts.
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Post by df on Sept 5, 2018 15:29:50 GMT
Given that interest isn't being paid and the receiver is about to be called in I reckon this should be on their non performing list, not available. In theory they could be giving this to Lendy Wealth accounts. Could have been, but it is too late. By the sound of it, we are for a long wait to find out how much capital we're going to loose on this loan.
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ilmoro
Member of DD Central
'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 Sept 26, 2018 15:17:50 GMT
Yo Lendy Support something you need to tell us? Think this one needs the suspend button pressing! |
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Post by picanto on Sept 27, 2018 15:25:05 GMT
Yo Lendy Support something you need to tell us? Think this one needs the suspend button pressing! Looks like Lendy have listened to you. They have suspended the loan and appointed a receiver. "Formal Appointment of the Receiver has now taken place, with the Receiver currently reviewing an exit strategy with the borrower, whilst simultaneously reviewing the Loan security in order to ascertain the best way forward to maximise recovery, should an agreement not be reached in relation to the same. We expect to receive an update from the Receiver in the next few days in this respect."
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Post by stevie on Sept 25, 2019 12:38:04 GMT
News update on this one: Refinanced of the outstanding loan completed and proceeds have been received. They go on to say: "We will also begin the process of enforcing the personal guarantee currently in place." - so got to assume another shortfall, but fingers crossed not too bad.
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Post by mrclondon on Nov 15, 2019 15:15:28 GMT
Partial repayment (R1) now credited to our accounts, but just 46.6% of capital vs 100% reduction in security cover.
The Receiver's abstract of receipts and payments document filed at CH in September implied that funds to be remitted to Lendy would be c. 70% of the loan's capital.
Implication must be that the Lendy T&C waterfall for fee deduction first has been applied ....
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