upland
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Post by upland on Aug 14, 2018 15:46:53 GMT
Well worth my email to FS - I am delighted. Perhaps we should do some of the others ?
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adrian77
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Post by adrian77 on Aug 14, 2018 16:42:05 GMT
nice one FS ! I was in this one and a tad concerned.
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Post by mrclondon on Sept 14, 2018 12:40:29 GMT
Back on the forthcoming loans list, along with a proposed loan against L**** O*****, Abergele.
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rogerthat
Member of DD Central
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Post by rogerthat on Sept 14, 2018 12:59:12 GMT
Back on the forthcoming loans list, along with a proposed loan against L**** O*****, Abergele.
Have I got this possible borrower connection wrong with regard to Gains******* House ?..if so theres some major renewals on GH imminent soz
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Post by mrclondon on Sept 14, 2018 13:15:50 GMT
fundingsecure - if our assumption that the principal of the prospective borrowing company/companies on these two loans is an existing FS borrower via other SPVs is incorrect, it would be worth stating on both loans that this is a new borrower with no connection to previous loans on FS.
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rogerthat
Member of DD Central
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Post by rogerthat on Sept 14, 2018 13:36:48 GMT
fundingsecure - if our assumption that the principal of the prospective borrowing company/companies on these two loans is an existing FS borrower via other SPVs is incorrect, it would be worth stating on both loans that this is a new borrower with no connection to previous loans on FS. Well ive asked the question...and you already know the response I got.
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Post by mrclondon on Apr 10, 2019 18:09:54 GMT
Post draw down it became obvious that the two borrowing company SPV's behind these two loans, were controlled and owned by the same individual as the existing large Abergele loan, and the Carlisle Development plot loan.
Recently administrators have been appointed by FS for the existing large Abergele loan (G***** House), and the Carlisle Development plot loan. (Details on DD Central for those with access)
SM trading in L***kfield, Rhos-on-Sea and L**** O*****, Abergele continues for now, with 72 days remaining until the maturity date. Stating the obvious, there has to be an increased risk that these two loans (also) have no credible exit strategy. EDIT: SM trading suspended by FS the day after I made this post.
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Doc
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Post by Doc on Jul 17, 2019 14:27:52 GMT
17/7/19 Update
We’ve been advised by the Borrower that re-financing of the security has been agreed that should result in the loan being paid in full together with all interest due.
We anticipate that the refinancing will be completed within the next 10-12 weeks. Therefore, an extension of the due date for payment will be given once we have sight of an Agreement in Principle for the Borrowers Lender.
A further updated will be posted once this has been received.
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Post by harryvederci on Oct 18, 2019 10:31:45 GMT
theres a L**** O***** (1244190303) refinancing update just posted by fs, but how does this stack with the press coverage (with photos) of the property being fire ravaged by arson on 4 June, is it insured?
Before the crews could stop the fire , it had destroyed a quarter of the building
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kielbasa
Member of DD Central
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Post by kielbasa on Oct 18, 2019 11:00:35 GMT
Perhaps we should have forum sweepstake on which FS property will be the next to catch fire.
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Post by mrclondon on Nov 12, 2019 13:40:25 GMT
Both loans have now been defaulted on the website
The final ids are
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rogerthat
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Post by rogerthat on Jan 17, 2020 11:21:17 GMT
No email notification as yet but:- 1244190303
1 hour ago
A formal demand was issued to the borrower in December 2019 and a deadline was set for repayment of the loan. As the deadline was not met FRP Advisory have been appointed as Receivers. Once we have their initial report and recommendations a further update will be issued
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Post by brummiefred on Jun 16, 2020 11:04:36 GMT
L*** O****UPDATE:
The Receivers have advised that the borrower has made a full and final settlement offer of £450,000 over two loans. The offer does not cover the capital owed by the borrower. The offer has therefore been rejected and the Receivers have been instructed to commence marketing of the properties.
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adrian77
Member of DD Central
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Post by adrian77 on Jun 16, 2020 14:38:52 GMT
Have read the excellent mrc DD about this one - oh no not this director again - this bloke strikes me as a paper shuffler (I could use other words!) and I am getting very fed up
with borrowers breaking their loan contract and offering to settle so that we take a mega loss. I say whatever he offers take all the assets he is associated with and take them to auction whether he likes it or not. I presume the insurance claim went straight to FS - please correct me if I am wrong!
I thank you
Stay healthy all.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Nov 14, 2020 11:35:11 GMT
Properties sold at auction in Sep
Two ROS ones for £275,000 & £125,000
Abergele one for £440,000
Ive added links to the relevant DD threads
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