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Post by captainb on Feb 14, 2018 21:38:33 GMT
Am disappointed that we have had no reply to my query about how the last loan got through DD when the trading had materially worsened, I still dont understand how only two months after the last loan they can be in Administration, how did the DD miss what must have been warning signs? I am equally disheartened and confused. My only guess is that they are more interested in their commision, and the safety of our money is of secondary concern.
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Steerpike
Member of DD Central
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Post by Steerpike on Feb 23, 2018 16:51:48 GMT
Latest update indicates prompt and effective action by Archover, so far so good.
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Nomad
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Post by Nomad on Feb 23, 2018 16:57:52 GMT
Latest update indicates prompt and effective action by Archover, so far so good. Yes, I am feeling cautiously optimistic. On the other hand they did say earlier that debts owed to failed companies could be very hard to collect...
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Steerpike
Member of DD Central
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Post by Steerpike on Feb 23, 2018 17:44:00 GMT
Indeed, that is a given, however, timely and meaningful action by Archover is a pleasant relief from a never-ending stream of "updates" consisting of meaningless drivel as is frequently seen from other platforms.
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Steerpike
Member of DD Central
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Post by Steerpike on Mar 12, 2018 10:17:37 GMT
Following the auction last week and the accumulation in the controlled account, the promised first capital repayment is just about due.
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Steerpike
Member of DD Central
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Post by Steerpike on Mar 15, 2018 13:14:26 GMT
hugoarchover is there a progress update or news of capital repayment for this loan?
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Post by hugoarchover on Mar 15, 2018 15:54:44 GMT
hugoarchover is there a progress update or news of capital repayment for this loan? Hi SteerpikeYes - it will be with you today. Hugo
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savernake
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Post by savernake on Mar 15, 2018 17:11:39 GMT
I have just received my lender update from Archover, thanks for this hugoarchover. It appears that one of the borrower's clients has been impacted by the collapse of Carillion and will therefore be unable to pay their invoices. Will you be making a claim on the insurance? There is no mention of this in the report. I also see no mention of the auction of assets which we were told about in the previous update. Has this auction taken place yet? |
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archie
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Post by archie on Mar 15, 2018 18:22:17 GMT
I didn't receive it. Is it on the website anywhere?
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Post by hugoarchover on Mar 15, 2018 18:32:16 GMT
I have just received my lender update from Archover, thanks for this hugoarchover . It appears that one of the borrower's clients has been impacted by the collapse of Carillion and will therefore be unable to pay their invoices. Will you be making a claim on the insurance? There is no mention of this in the report. I also see no mention of the auction of assets which we were told about in the previous update. Has this auction taken place yet? Hi savernake There is mention of credit insurance - 'Claims are also being prepared to Tokio Marine HCC for protracted defaults (debtors have been affected by the Carillion collapse)' - under 'Support Services' they are listed as the credit insurer - as listed on the original funding requests. We will get back to you regarding the auction of assets.
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Post by hugoarchover on Mar 15, 2018 18:33:52 GMT
I didn't receive it. Is it on the website anywhere? Are you in any of the projects? It was only sent to those involved. The contents of the report are currently confidential.
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archie
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Post by archie on Mar 15, 2018 18:35:08 GMT
I didn't receive it. Is it on the website anywhere? Are you in any of the projects? It was only sent to those involved. The contents of the report are currently confidential. I'm in 6261.
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Post by hugoarchover on Mar 15, 2018 18:44:35 GMT
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savernake
Member of DD Central
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Post by savernake on Mar 15, 2018 19:37:30 GMT
I have just received my lender update from Archover, thanks for this hugoarchover . It appears that one of the borrower's clients has been impacted by the collapse of Carillion and will therefore be unable to pay their invoices. Will you be making a claim on the insurance? There is no mention of this in the report. I also see no mention of the auction of assets which we were told about in the previous update. Has this auction taken place yet? Hi savernake There is mention of credit insurance - 'Claims are also being prepared to Tokio Marine HCC for protracted defaults (debtors have been affected by the Carillion collapse)' - under 'Support Services' they are listed as the credit insurer - as listed on the original funding requests. We will get back to you regarding the auction of assets. Thanks for the clarification re the insurance claim hugoarchover.
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Steerpike
Member of DD Central
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Post by Steerpike on Mar 15, 2018 20:34:35 GMT
So far, so good, the report highlights the advantage of the Archover model whereby they very much have their finger on the pulse and can therefore act quickly, and it appears decisively, as soon as difficulties arise.
Could take a lot longer yet though before the loans can be closed.
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