eeyore
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Post by eeyore on Dec 1, 2023 11:30:07 GMT
It's the ridiculous notion that, he won't give us updates on any loans because the FCA have prevented him from giving updates on some, that irks me. It's clear that a bunch of bad actors, who are more slippery than a bucket of eels when it comes to honoring their debts, have outsmarted ABLrate so far. But, despite the interconnected web of eels across some loans, there are others that are not connected which long suffering lenders deserve to be updated on. But isn't there an alternative notion: the FCA is preventing him from giving any updates because Ablrate itself is under investigation? For example, if someone has alleged that it's not an issue that Ablrate has been outsmarted by the eels but has colluded with them, I'd expect any competent regulator to be reviewing all the loans. Inevitably, that review would inconvenience even the innocent.
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GreenZero
Member of DD Central
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 Dec 1, 2023 11:35:35 GMT
It's the ridiculous notion that, he won't give us updates on any loans because the FCA have prevented him from giving updates on some, that irks me. It's clear that a bunch of bad actors, who are more slippery than a bucket of eels when it comes to honoring their debts, have outsmarted ABLrate so far. But, despite the interconnected web of eels across some loans, there are others that are not connected which long suffering lenders deserve to be updated on. But isn't there an alternative notion: the FCA is preventing him from giving any updates because Ablrate itself is under investigation? For example, if someone has alleged that it's not an issue that Ablrate has been outsmarted by the eels but has colluded with them, I'd expect any competent regulator to be reviewing all the loans. Inevitably, that review would inconvenience even the innocent. Thinking aloud..... If that was the case wouldn't the FCA communicate that position to the investers? Either way, we are being kept in the dark.
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eeyore
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Post by eeyore on Dec 1, 2023 11:44:40 GMT
But isn't there an alternative notion: the FCA is preventing him from giving any updates because Ablrate itself is under investigation? For example, if someone has alleged that it's not an issue that Ablrate has been outsmarted by the eels but has colluded with them, I'd expect any competent regulator to be reviewing all the loans. Inevitably, that review would inconvenience even the innocent. Thinking aloud..... If that was the case wouldn't the FCA communicate that position to the investers?Either way, we are being kept in the dark. Absolutely not! Any investigation would be undertaken, quite rightly, in secret. A scurrilous accusation should not be allowed to damage an innocent party. In any event, take a look at @mousey's posts about the difficulty of getting anything out of the FCA even on cases that have been concluded.
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Balder
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Post by Balder on Dec 1, 2023 15:10:52 GMT
I asked DBW for an update, his response:-
I have been working with lawyers who are the roadblock at the moment. They tell me that everything should be done soon (I have a couple of things that I need to send after a request). It is, however, out of my hands until I am given the all clear to update lenders.
Best
David
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GreenZero
Member of DD Central
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 Dec 1, 2023 16:43:18 GMT
That doesn't sound very positive....
Is the plug about to be pulled ?
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eeyore
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Post by eeyore on Dec 1, 2023 17:33:58 GMT
I asked DBW for an update, his response:- I have been working with lawyers who are the roadblock at the moment. They tell me that everything should be done soon (I have a couple of things that I need to send after a request). It is, however, out of my hands until I am given the all clear to update lenders. Thanks for sharing that reply. Let's analyse the response: " I have been working with lawyers who are the roadblock at the moment." Then he goes on to contradict himself: " They tell me that everything should be done soon (I have a couple of things that I need to send after a request)" If we posed the same question to the lawyers, wouldn't their response be: " The Ablrate management is the roadblock at the moment. We have requested further information and we cannot proceed until we have received and reviewed that information"?
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Post by peertopier on Dec 16, 2023 11:02:27 GMT
Weren't we promised an update "next week" a few weeks ago? I can't raise the enthusiasm to go and read the email again.
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brianlom1
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He's not the Messiah, he's a very naughty boy!
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Post by brianlom1 on Apr 2, 2024 2:17:36 GMT
Is anyone able to advise the size of the Ablrate loan book upon entering administration please?
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Post by overthehill on Apr 2, 2024 8:17:27 GMT
I lost a HUGe amount of OTHERS money.
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dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on Apr 2, 2024 8:55:54 GMT
I lost a HUGe amount of OTHERS money.
I spotted the typo too.
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macq
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Post by macq on Apr 2, 2024 12:22:44 GMT
As a corporate slogan its probably more catchy then - I Need A Mugs Money
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