KoR_Wraith
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Post by KoR_Wraith on Oct 8, 2020 15:12:29 GMT
I must say, I'm usually impressed by Ablrate's handling of distressed loans, however, it seems very odd to me that they've been unable to complete the airplane inspection over the summer. I accept that travel was very restricted at the start of summer but millions of people have flown for leisure over the last few months, so I don't understand why there's been so much difficulty arranging an essential in-person business activity.
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ptr120
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Post by ptr120 on Oct 11, 2020 10:54:39 GMT
Given that there is also a large aircraft graveyard within driving distance of the location of at least one of the aircraft, the lack of inspection (and therefore progress) is a little baffling.
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ptr120
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Post by ptr120 on Nov 30, 2020 20:55:59 GMT
Hi ablrate another one that would seem rather overdue an update?
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jan 8, 2021 11:59:48 GMT
Update please asap ablrate, your last one was 1/12/20. We are all very aware of the current difficulties but that's no excuse for no information forthcoming on what is happening here. Or not happening.
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GreenZero
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The early bird may get the worm, but it's the second mouse who gets the cheese
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Post by GreenZero on Jan 19, 2021 17:07:02 GMT
A more detailed update would be appreciated on 94 which ironically should be making thier last patment at the begining of next month. The aircrafts were inspected back in August 2019 and in October 2019 there was talk of a dry lease. Legal action against the company and it directors was mentioned in February 20 and from March Covid has blocked all inpections What is the recovery strategy? Surely the storage charges on these two aircraft must be significant, afterall the default goes back to March 2019.
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Post by ablrate on Jan 19, 2021 17:33:59 GMT
A more detailed update would be appreciated on 94 which ironically should be making thier last patment at the begining of next month. The aircrafts were inspected back in August 2019 and in October 2019 there was talk of a dry lease. Legal action against the company and it directors was mentioned in February 20 and from March Covid has blocked all inpections What is the recovery strategy? Surely the storage charges on these two aircraft must be significant, afterall the default goes back to March 2019. As we have said until such time as buyers/potential lessees are able to inspect the aircraft we are snookered. At the last inspection the aircraft was moved off premium parking, however, it is the company that owes the parking fees not the asset. The Cape Town convention on movable assets will/should apply in this case.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Mar 22, 2021 18:12:50 GMT
ablrate, what ongoing costs is this Loan racking up please? And how are these Costs affecting the LTV? Is the aircraft "rotting" and losing value? Thank you.
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registerme
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Post by registerme on Mar 22, 2021 22:45:50 GMT
Is the aircraft "rotting" and losing value? For god's sake ozboy there were two aircraft. Enough with the schoolboy errors already! (mostly joking)
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Mar 22, 2021 22:55:44 GMT
Double the rot then?
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blender
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Post by blender on Mar 23, 2021 8:21:15 GMT
A matched pair is generally more valuable, especially with antiques. (40th birthday in 2022 - must send a card)
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agent69
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Post by agent69 on Mar 23, 2021 8:42:03 GMT
Given the amount of demand there is for moving freight around the world, why aren't these aircraft working?
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boundah
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Post by boundah on Mar 23, 2021 16:52:22 GMT
Is the aircraft "rotting" and losing value? For god's sake ozboy there were two aircraft. Enough with the schoolboy errors already! (mostly joking)You seem to assume there's only one god. Schoolboy error
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registerme
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Post by registerme on Mar 23, 2021 17:55:06 GMT
Actually I assume there are none.
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ptr120
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Post by ptr120 on Mar 23, 2021 20:08:33 GMT
Perhaps it'll need Devine intervention to get any money back from this loan?
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ptr120
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Post by ptr120 on May 21, 2021 12:36:25 GMT
ablrate there is notification that the borrower, E*w!n A!r C*rg* Ltd, has applied to be struck-off and dissolved. Please can we have an update what is happening with this loan? Are you taking action to prevent the dissolution?
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