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Post by dualinvestor on Mar 1, 2018 16:38:30 GMT
The web page name is unfortunate, since 'bust' generally implies 'insolvent', which (we have been assured) is not yet the case here. The article ON the referenced web page doesn't use the term 'bust', afaict. There are two generally accepted definitions of insolvency. 1. A company (or person) cannot pay their debts as they fall due. 2 Liabilities exceed assets Technically Collateral are not in breach of the first because it is borrowers not the company that owe the debts, although this is a fine line I would not like to argue in court. But according to the latest published figures there is a six figure deficit. So they probably are bust in the meaning of insolvent.
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tx
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Post by tx on Mar 1, 2018 16:50:49 GMT
What’s this 6 figure deficit you referring to?
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mickj
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Post by mickj on Mar 1, 2018 16:52:23 GMT
jeromesh I have messaged you with letter ref from DD, not sure I can repeat it here. There are post above where letter not received so you may not be alone.
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gb007
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Post by gb007 on Mar 1, 2018 17:04:27 GMT
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Post by dualinvestor on Mar 1, 2018 17:08:34 GMT
What’s this 6 figure deficit you referring to? On the balance sheet (I am relying on the word of another poster as on my phone I do not have access to documents from CH) In any event it is the first definition that is generally regarded as more important as many companies have deficits but carry on for months even years, and now even if only because of the administration Collateral will not be paying it's creditors on time.
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Post by jeromesh on Mar 1, 2018 17:52:00 GMT
jeromesh I have messaged you with letter ref from DD, not sure I can repeat it here. There are post above where letter not received so you may not be alone. Thanks - much appreciated
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micky
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Post by micky on Mar 1, 2018 18:04:57 GMT
Hi
If anyone is looking for the recent email from the administrators it is on pages 14 and 16 of this thread.
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averageguy
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Post by averageguy on Mar 1, 2018 18:09:35 GMT
Hi If anyone is looking for the recent email from the administrators it is on pages 14 and 16 of this thread. Also on the top locked thread ...perhaps more easily accessed
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micky
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Post by micky on Mar 1, 2018 18:14:06 GMT
Yep, thanks, just seen this locked thread.
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mickj
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Post by mickj on Mar 1, 2018 18:35:50 GMT
Hi If anyone is looking for the recent email from the administrators it is on pages 14 and 16 of this thread. Also on the top locked thread ...perhaps more easily accessed The link goes to DD Central possibly out of necessity, difficult for new members. Edit: (different letters?)
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Post by wiseclerk on Mar 1, 2018 18:44:21 GMT
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ganymede
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Post by ganymede on Mar 1, 2018 19:11:39 GMT
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Post by supernumerary on Mar 1, 2018 19:11:57 GMT
Do you really want that? What is this attraction to microscopically small, very young, P2P firms that meant posters vote Collateral the 2nd best P2P platform of 2017. I assume it's just the ultra high yields, the fact they are temporarily "default free" and that they "communicate" or something. [...] [Mod hat off] Unfortunately the received wisdom gained from this forum as to which are "good" platforms or "good" loans is being reinforced by the lack of critical challenge to the popular viewpoint, in part due to the mass put-down of critical points of view. I've asked a number of the more professional lenders that I know why they don't post on the forum, and the response is always along the lines of "whats the point, my voice will be drowned out, and the opposite view will have gained mass acceptance as the 'truth' ". Then can you not identify those more professional lenders, as special members of the forum and confer on them a title, such as or in the form of "Wisdom Contributor"? That might not be the correct title to use, but when they post, it is obvious to even the 'least sharpest of minds', that they are conferred with a 'special status' on the p2p forum message board, as having greater wisdom and more experience. Just a point of view. 
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micky
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Post by micky on Mar 1, 2018 19:21:00 GMT
Maybe I should bring attention to this thread from Jan 2017 p2pindependentforum.com/post/162912/threadThis is a great find ganymede; if anyone has any doubts that this was not an error read these replies from Gordon.
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kaya
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Post by kaya on Mar 1, 2018 19:35:39 GMT
We do not know what has been going on behind the scenes, but it is surely the case that the FCA would never have taken this action if there had existed a reasonably viable alternative that could have allowed things to continue, and get sorted out along the way.
This whole event adds up to a massive breach of trust that we investors have faithfully placed in this business, and those people that operate it.
The winds now blow cold over the world of p2p investing, even colder than those winds that now blow outside.
Never a colder Curry have we known. Certain individuals should perhaps be thrown in jail. I repeat: this event is a massive breach of trust.
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