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Post by Proptechfish on Aug 11, 2018 23:18:23 GMT
Not sure if this has all ready been discovered, but it's news to me... www.altfi.com/article/1429_tales_of_platform_failure_and_the_concerning_case_of_jennifer_lodgeCheck out this article from 2014 about the convoluted mess and ultimate demise of 'Be The Lender'. Once all associated companies were wound down and filed for administration look who steps in to rise a phoenix from the ashes, none other than 'Refresh Recovery'. It's not too much of a stretch to think there may be a connection between the defunct 'Be The Lender' platform and the now defunct COL platform, with RR being that missing link. Anybody else know anything more about this ? |
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11025
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Post by 11025 on Aug 12, 2018 7:49:51 GMT
Yes ,
I had seen that article a while ago ,
Which is one of the reasons for me that BDO is the lesser of 2 evils , It also gives me concern that the FCA were possibly lax in their attitude to what was going on with Collateral and given the connections to Refresh Recovery maybe should have been more vigilant with this situation earlier on.
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keystone
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Post by keystone on Aug 12, 2018 10:14:38 GMT
Interesting article, it begs the question if FCA regulation has any meaning at all? You can do what you want and as long as you don't inform the FCA they have no concern.
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11025
Member of DD Central
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Post by 11025 on Aug 12, 2018 10:43:34 GMT
Interesting article, it begs the question if FCA regulation has any meaning at all? You can do what you want and as long as you don't inform the FCA they have no concern. Or in the Collateral case they inform the FCA and details are posted on the FCA web and they still have no concern ....
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foxtrot
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Post by foxtrot on Aug 13, 2018 8:36:34 GMT
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? We have requested to see the loan book as we think there is deals we can certainly support, so no offer has been made yet, but it is still early days.
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insideout
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Post by insideout on Aug 16, 2018 12:19:03 GMT
PwC costs of Carillion liquidation - pension specialist partners charged out at over £1000 per hour.
Extracts:
A letter from PwC to joint inquiry chairs Frank Field and Rachel Reeves shows that the firm billed £20.4m for the first eight weeks of the Carillion insolvency.
A spokesperson for PwC said: “We understand concerns over the cost of the liquidation; however, without this work the cost to UK jobs, the economy and the taxpayer would be considerably higher.
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Post by brightspark on Aug 16, 2018 14:20:41 GMT
I'll bear it in mind. Which platform might be next?
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m2btj
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Post by m2btj on Aug 16, 2018 16:25:14 GMT
www.constructionnews.co.uk/10034308.article?This link might work:PwC costs of Carillion liquidation - pension specialist partners charged out at over £1000 per hour. Extracts: A letter from PwC to joint inquiry chairs Frank Field and Rachel Reeves shows that the firm billed £20.4m for the first eight weeks of the Carillion insolvency. A spokesperson for PwC said: “We understand concerns over the cost of the liquidation; however, without this work the cost to UK jobs, the economy and the taxpayer would be considerably higher. Best advice - don't get involved with companies at risk of going bust. Vultures feasting on the Carillion carcass! The main board at Carillion were incompetent beyond belief but had one last board meeting to approve huge directors bonuses. Sadly, white collar crime often goes unpunished. I have no doubt that these clowns will turn up elsewhere spouting the much used mantras of "missed opportunities" & "lessons learned"!
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Monetus
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Post by Monetus on Aug 20, 2018 14:56:12 GMT
It's all been worryingly quiet on the loan book re-finance front lately...
Anyone seen any sign of other loans being re-financed onto other platforms other than the Huddle ones?
Anyone got any progress updates on developments local to them? Have they all still mostly ground to a halt?
I'd like to see some more tangible progress...
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archie
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Post by archie on Aug 20, 2018 15:07:13 GMT
Next week we'll be at the 6 months mark.
Other than our balances we know nothing. Not impressed.
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Post by Badly Drawn Stickman on Aug 20, 2018 15:20:54 GMT
Next week we'll be at the 6 months mark. Other than our balances we know nothing. Not impressed. I am led to believe that platitudes are often used as a 'thought-terminating cliché, aimed at quelling social, emotional, or cognitive unease' so can offer the following No news is good news. Further reinforcement if required might be found in All's well that ends well.
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archie
Posts: 1,866
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Post by archie on Aug 20, 2018 15:32:32 GMT
Next week we'll be at the 6 months mark. Other than our balances we know nothing. Not impressed. I am led to believe that platitudes are often used as a 'thought-terminating cliché, aimed at quelling social, emotional, or cognitive unease' so can offer the following No news is good news. Further reinforcement if required might be found in All's well that ends well. I think we'd rather have money than platitudes.  Many a mickle makes a muckle. 
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snowmobile
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Post by snowmobile on Aug 20, 2018 15:58:02 GMT
It's all been worryingly quiet on the loan book re-finance front lately... Anyone seen any sign of other loans being re-financed onto other platforms other than the Huddle ones? Anyone got any progress updates on developments local to them? Have they all still mostly ground to a halt? I'd like to see some more tangible progress... I was hoping you might have the inside info on what is or isn't happening. Clearly not....
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Post by Proptechfish on Aug 20, 2018 16:09:49 GMT
It's all been worryingly quiet on the loan book re-finance front lately... Anyone seen any sign of other loans being re-financed onto other platforms other than the Huddle ones? Anyone got any progress updates on developments local to them? Have they all still mostly ground to a halt? I'd like to see some more tangible progress... I'm on the fence about PC, if its not the COL development they at least have the same architects. Anybody got ideas about this ? (it's obvious what which one i'm talking about if you can see the PC investments)
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Monetus
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Post by Monetus on Aug 20, 2018 16:10:27 GMT
I was hoping you might have the inside info on what is or isn't happening. Clearly not.... I am in the same position as everyone else right now.... waiting for an update from BDO of when the Creditors Committee has been formed and who the members are.
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