KoR_Wraith
Member of DD Central
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Post by KoR_Wraith on Jul 23, 2018 23:19:17 GMT
As**** Hu***, the company through which the borrower "owns 43% in a London property worth over £3.6M", has accounts available for last year. These accounts show assets of £3.3M and liabilities of just over £3.3M. Makes me wonder if there's truly any worth in this particular element of the security.
Not entirely sure what a 50% ownership "share value of £500,000" means exactly - that someone (we're not told who) perhaps values the As*** Hu*** business at £1M despite it being insolvent last year?
I understand that 16% loans are going to be higher risk but if the above is true then I feel that including a charge over these shares to be misleadingly reassuring.
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star dust
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Post by star dust on Aug 16, 2018 16:02:27 GMT
Whichever Castle this was it seems the loan is no longer proceeding - I received an email earlier, Huddle's DD made them uncomfortable . Good news for whoever did invest "Obviously instant returns will still be credited to your accounted immediately."
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hazellend
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Post by hazellend on Aug 16, 2018 20:51:45 GMT
I wonder what went wrong with this one. Oh well I’ll take my instant tax free returns, thanks huddle!
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