hendragon
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Post by hendragon on Sept 5, 2018 9:25:31 GMT
The recovery of loans may not be the longest part of this process. BDO will have to work out how the recovered funds will be distributed. For myself I avoided most of the developement loans and was mainly in bling. Any attempt to regard myself as a creditor of the overall loan book would be unlikely to be to my advantage. Perhaps BDO need to figure out how to distubute funds (dependent on any data recovery necessary) before we are told how much, and from which loans, money has been recovered.
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hazellend
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Post by hazellend on Sept 5, 2018 9:36:13 GMT
The recovery of loans may not be the longest part of this process. BDO will have to work out how the recovered funds will be distributed. For myself I avoided most of the developement loans and was mainly in bling. Any attempt to regard myself as a creditor of the overall loan book would be unlikely to be to my advantage. Perhaps BDO need to figure out how to distubute funds (dependent on any data recovery necessary) before we are told how much, and from which loans, money has been recovered. Bling has very low value at auction so not sure why you see it as more likely to get a recovery. If anything, due to the low value the bling borrowers may just take a chance and see how long they can get an interest free loan for and just lose the asset
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hendragon
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Post by hendragon on Sept 5, 2018 10:02:50 GMT
IIRC the coin/jewellery loan valuations should be more than sufficient to recover all capital. Bling prices at auction have lowered a little but not enough to dent recovery. This should be a lot quicker and easier than trying to recover property loans. I would also add that valuations on bling are easier to check than property becuase they tend to be less subjective.
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dawn
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Post by dawn on Sept 5, 2018 12:34:14 GMT
I believe Moorfields have been appointed administrators for Refresh Recovery. Is this the same Moorfields that offered 'advice' about the collapse of Collateral via the Moneything Forum here on the Indie? Or am I getting muddled....?
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11025
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Post by 11025 on Sept 5, 2018 12:48:34 GMT
I believe Moorfields have been appointed administrators for Refresh Recovery. Is this the same Moorfields that offered 'advice' about the collapse of Collateral via the Moneything Forum here on the Indie? Or am I getting muddled....? Not according to companies house REFRESH RECOVERY LIMITED Company number 06314608 Follow this company File for this company • Company Overview for REFRESH RECOVERY LIMITED (06314608) • Filing history for REFRESH RECOVERY LIMITED (06314608) • People for REFRESH RECOVERY LIMITED (06314608) • Charges for REFRESH RECOVERY LIMITED (06314608) • Insolvency for REFRESH RECOVERY LIMITED (06314608) 1 Insolvency case Case number 1 — In administration Administration started 28 June 2018 Practitioner Martin Paul Halligan
Live Recoveries Limited Wentworth House 122 New Road Side, Horsforth, Leeds, West Yorkshire, LS18 4QB
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dawn
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Post by dawn on Sept 5, 2018 12:50:08 GMT
I believe Moorfields have been appointed administrators for Refresh Recovery. Is this the same Moorfields that offered 'advice' about the collapse of Collateral via the Moneything Forum here on the Indie? Or am I getting muddled....? Not according to companies house REFRESH RECOVERY LIMITED Company number 06314608 Follow this company File for this company • Company Overview for REFRESH RECOVERY LIMITED (06314608) • Filing history for REFRESH RECOVERY LIMITED (06314608) • People for REFRESH RECOVERY LIMITED (06314608) • Charges for REFRESH RECOVERY LIMITED (06314608) • Insolvency for REFRESH RECOVERY LIMITED (06314608) 1 Insolvency case Case number 1 — In administration Administration started 28 June 2018 Practitioner Martin Paul Halligan
Live Recoveries Limited Wentworth House 122 New Road Side, Horsforth, Leeds, West Yorkshire, LS18 4QB
My mistake - thank you for putting me right 
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tx
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Post by tx on Sept 6, 2018 20:37:49 GMT
In fact, I don’t believe we received any latest updates or progress on the loan books etc from BDO ... I am very patient ...
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mickj
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Post by mickj on Mar 1, 2019 14:08:26 GMT
Well it's a year ............
Into administration – 28th February 2018
now 13 off 1st of the Month interest payments accruing or something.
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tx
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Post by tx on Mar 2, 2019 15:33:27 GMT
When can we expect the next BDO comm? I remember reading their report saying they don’t expect the need of BDO after April 2019. So where are we now?
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mason
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Post by mason on Mar 2, 2019 18:17:59 GMT
When can we expect the next BDO comm? I remember reading their report saying they don’t expect the need of BDO after April 2019. So where are we now? They stated that they were on track to move into liquidation on or before 27th April. An update report is likely to be issued at that time. There was never any suggestion that BDO would end its involvement at that stage, in fact it was proposed and accepted by creditors that BDO would be appointed Joint Liquidators.
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