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Post by df on Oct 26, 2020 20:27:53 GMT
Circa 25% returned to investors today! It's the now perennial Lendy question of whether to feel depressed by the pitiful recoveries or jump for joy at seeing anything back at all? It's my third one from Ly, the other two returned more %. But even 25% is better than nothing. I treat it as a contribution to loss reduction - feels better that way 
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travolta
Member of DD Central
Posts: 1,506
Likes: 1,214
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Post by travolta on Oct 26, 2020 20:31:43 GMT
As some wit on the Facebook page said:
'When Lendy promised up to 12% returns I foolishly assumed income, not capital'................quote from Bryan Stevens
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rocky1
Member of DD Central
Posts: 1,139 
Likes: 1,963
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Post by rocky1 on Oct 27, 2020 17:15:43 GMT
over £500k for lendy with another £300+k third party costs being held.how can this be happening lenders getting shafted whilst lendy/lb rake in millions.bloody 3% fees and contractual entitlement should have ended when LB put the administators in charge.disgraceful that from £1.6m there is £700k to distribute back to lenders.
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sam i am
Member of DD Central
Posts: 697
Likes: 555
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Post by sam i am on Oct 27, 2020 17:20:31 GMT
over £500k for lendy with another £300+k third party costs being held.how can this be happening lenders getting shafted whilst lendy/lb rake in millions.bloody 3% fees and contractual entitlement should have ended when LB put the administators in charge.disgraceful that from £1.6m there is £700k to distribute back to lenders.
Although the administrators didn't say it, one presumes based on past statements that the £500k for Lendy "contractual entitlement" is being held in abeyance until the outcome of the LAG court case.
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Post by billy169 on Oct 27, 2020 17:27:21 GMT
All FCA approved..!!!. couldn't make it up.
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bloodycat
Member of DD Central
Posts: 184
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Post by bloodycat on Dec 8, 2020 13:42:07 GMT
Another tiny repayment today.
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travolta
Member of DD Central
Posts: 1,506
Likes: 1,214
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Post by travolta on Dec 9, 2020 21:00:45 GMT
Another tiny repayment today. mmm.Not qu-ite £10.00.
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Post by rooster on Jun 23, 2022 17:14:01 GMT
Hi,
Can I please ask why this loan is listed with my loaned balance outstanding as "live" in my Lendy portal but not listed in today's administrators progress report under "APPENDIX F – LOAN BALANCES OUTSTANDING"?
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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
Posts: 11,330
Likes: 11,549
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Post by ilmoro on Jun 23, 2022 18:30:35 GMT
Hi, Can I please ask why this loan is listed with my loaned balance outstanding as "live" in my Lendy portal but not listed in today's administrators progress report under "APPENDIX F – LOAN BALANCES OUTSTANDING"? There are a number of loans where there is no further recovery possible from any source so they have been defacto written of by the administrators .... hence there is nothing outstanding as far as they are concerned. Subject to the lenders being admitted as creditors by the Court (outstanding directions issue) then the shortfall will be an unsecured claim against Lendy. In the meantime, if you haven't already then the loss will be eligible for loss relief against P2P income.
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Post by rooster on Jun 23, 2022 19:21:13 GMT
Hi, Can I please ask why this loan is listed with my loaned balance outstanding as "live" in my Lendy portal but not listed in today's administrators progress report under "APPENDIX F – LOAN BALANCES OUTSTANDING"? There are a number of loans where there is no further recovery possible from any source so they have been defacto written of by the administrators .... hence there is nothing outstanding as far as they are concerned. Subject to the lenders being admitted as creditors by the Court (outstanding directions issue) then the shortfall will be an unsecured claim against Lendy. In the meantime, if you haven't already then the loss will be eligible for loss relief against P2P income. Thanks ilmoro. Can I presume that the recovery achieved is being held by the administrators until the distribution-court case concludes and it's for that reason that it remains outstanding in my portal?
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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
Posts: 11,330
Likes: 11,549
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Post by ilmoro on Jun 23, 2022 20:21:40 GMT
There are a number of loans where there is no further recovery possible from any source so they have been defacto written of by the administrators .... hence there is nothing outstanding as far as they are concerned. Subject to the lenders being admitted as creditors by the Court (outstanding directions issue) then the shortfall will be an unsecured claim against Lendy. In the meantime, if you haven't already then the loss will be eligible for loss relief against P2P income. Thanks ilmoro . Can I presume that the recovery achieved is being held by the administrators until the distribution-court case concludes and it's for that reason that it remains outstanding in my portal? Youve had the cash you were entitled to under the original waterfall but the Lendy entitlement is still ringfenced and will come back to lenders, minus the agreed fees. I dont think the administrators are actually updating the status of loans on the site and also lenders need to know what their exposure is to loans that have technically been written off for their creditor claims.
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