tx
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Post by tx on Jul 29, 2018 20:37:06 GMT
I wonder if RR actually got round to paying back their Col fees, or if that has now got swallowed up in the administration. This was mentioned in the 21/6 update from BDO - it has been paid back - the other question is what has happened to the £350k+ withdrawn by the Directors - there has been no mention of that? I was also in the camp that wondering if the business profit had been paid back, if there no profit in company I don’t think accountancy rules allow taking the non-existent profit out of company. What happen to that?
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Post by dan1 on Jul 30, 2018 10:45:42 GMT
Does anyone have a record of when the 13%, 14% and 15% rates first went live for each of the developments?
The captures I shared previously include the rate and days remaining but I don't know the effective date that the higher rates were offered. I could assume 6 month terms but I recall end dates being aligned across tranches which would make the assumption invalid.
Failing that, I'll have to travel through the forum or emails. Any help gratefully received, thanks!
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foxtrot
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Post by foxtrot on Aug 1, 2018 8:39:46 GMT
Can someone let me know who the administrators are on this? I work for a small private lender and would be very keen to have a look at their books to see if we could support with the refinancing of some of these deals. Please PM me or reply here. Thanks.
Edit: Typo
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elsee
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Retired:D
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Post by elsee on Aug 1, 2018 8:47:13 GMT
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foxtrot
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Post by foxtrot on Aug 1, 2018 8:50:08 GMT
Much Appreciated. I will have a look at see what we can do.
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averageguy
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Post by averageguy on Aug 5, 2018 10:22:06 GMT
Guesses as to when we are likely to have an update?
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empirica
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Post by empirica on Aug 5, 2018 10:32:22 GMT
Guesses as to when we are likely to have an update? Decision date for the Creditors' Committee is 08/08 so maybe an announcement on the constituents on the 8th (a Weds) or shortly after, which may contain a broader update.
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foxtrot
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Post by foxtrot on Aug 10, 2018 9:38:31 GMT
Much Appreciated. I will have a look at see what we can do. I made contact with them and have subsequently heard nothing at all back which is disappointing.
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sjg
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Post by sjg on Aug 10, 2018 13:12:09 GMT
Much Appreciated. I will have a look at see what we can do. I made contact with them and have subsequently heard nothing at all back which is disappointing. Well I'm not sure why I can visualise 10 lawyers sitting around a table for 10 hours debating over Foxtrots offer of refinancing @£500 per hour then deciding not to do anything about it and charging Collateral lenders £50000 for the privilege!! Then going off for dinner with bottles of wine at £1000 (need to save money somewhere for the judges benefit) a pop thinking we've done a good days work today. Or is it that I'm very cynical in my old age!!!!
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averageguy
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Post by averageguy on Aug 10, 2018 13:15:07 GMT
I made contact with them and have subsequently heard nothing at all back which is disappointing. Well I'm not sure why I can visualise 10 lawyers sitting around a table for 10 hours debating over Foxtrots offer of refinancing @£500 per hour then deciding not to do anything about it and charging Collateral lenders £50000 for the privilege!! Then going off for dinner with bottles of wine at £1000 (need to save money somewhere for the judges benefit) a pop thinking we've done a good days work today. Or is it that I'm very cynical in my old age!!!! I’m more of the mind that Foxtrot may have to be a tad more patient
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empirica
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Post by empirica on Aug 10, 2018 13:22:41 GMT
I made contact with them and have subsequently heard nothing at all back which is disappointing. Well I'm not sure why I can visualise 10 lawyers sitting around a table for 10 hours debating over Foxtrots offer of refinancing @£500 per hour then deciding not to do anything about it and charging Collateral lenders £50000 for the privilege!! Then going off for dinner with bottles of wine at £1000 (need to save money somewhere for the judges benefit) a pop thinking we've done a good days work today. Or is it that I'm very cynical in my old age!!!! Well, as you're asking, I'd say that such a viewpoint isn't cynicism, just ignorance and age has nothing to do with it.
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sjg
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Post by sjg on Aug 10, 2018 14:04:49 GMT
Well I'm not sure why I can visualise 10 lawyers sitting around a table for 10 hours debating over Foxtrots offer of refinancing @£500 per hour then deciding not to do anything about it and charging Collateral lenders £50000 for the privilege!! Then going off for dinner with bottles of wine at £1000 (need to save money somewhere for the judges benefit) a pop thinking we've done a good days work today. Or is it that I'm very cynical in my old age!!!! Well, as you're asking, I'd say that such a viewpoint isn't cynicism, just ignorance and age has nothing to do with it. Well that's me just pain old ignorant...  Anyone out there who can give an update on the Collateral situation to improve my ignorance would be very much appreciated rather than the lack of information we have currently from BDO. We know some property loans have appeared on other P2P lenders sites. Would it be to much to expect that a short message from BDO to update us on what is going on i.e that they have successfully managed to refinance some loans. Obviously yes it would be as we haven't heard a thing. Perhaps with the new creditors committee when its announced and running we may here more.. Let's face it its only been just over 5 months on a P2P firm with a small loan book and apart from confirmation on what we had "invested" which we should have had a rough idea anyway we have been kept in the dark on anything else going on. 
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sjg
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Post by sjg on Aug 10, 2018 14:28:01 GMT
Well that's me just pain old ignorant... Anyone out there who can give an update on the Collateral situation to improve my ignorance would be very much appreciated rather than the lack of information we have currently from BDO. We know some property loans have appeared on other P2P lenders sites. Would it be to much to expect that a short message from BDO to update us on what is going on i.e that they have successfully managed to refinance some loans. Obviously yes it would be as we haven't heard a thing. Perhaps with the new creditors committee when its announced and running we may here more.. Let's face it its only been just over 5 months on a P2P firm with a small loan book and apart from confirmation on what we had "invested" which we should have had a rough idea anyway we have been kept in the dark on anything else going on. I’m not sure I want piecemeal updates about every refinance, some of which remain inconclusive. At £500/hr whilst charging £1000 bottles of bubbles to expenses. Or am I missing something . Yes your probably right best to have all the news in one big hit rather than little bits of euphoria over good news and sadness over the not so good news. Still I must admit its the mushroom feeling I'm not over keen on.
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foxtrot
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Post by foxtrot on Aug 10, 2018 15:29:19 GMT
Well I'm not sure why I can visualise 10 lawyers sitting around a table for 10 hours debating over Foxtrots offer of refinancing @£500 per hour then deciding not to do anything about it and charging Collateral lenders £50000 for the privilege!! Then going off for dinner with bottles of wine at £1000 (need to save money somewhere for the judges benefit) a pop thinking we've done a good days work today. Or is it that I'm very cynical in my old age!!!! I’m more of the mind that Foxtrot may have to be a tad more patient We didn't expect much, but we do have substantial funds that we would like to deploy and hopefully we will hear back in the next few months.
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Greenwood2
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Post by Greenwood2 on Aug 10, 2018 19:32:03 GMT
I’m more of the mind that Foxtrot may have to be a tad more patient We didn't expect much, but we do have substantial funds that we would like to deploy and hopefully we will hear back in the next few months. What were you offering?
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