jlend
Member of DD Central
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Post by jlend on Oct 4, 2020 18:20:57 GMT
Totally agree, how have 94% of voters suddenly decided that losing money is ok and passing this loan onto some other poor mug is somehow acceptable? I voted A.
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tonyr
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Post by tonyr on Oct 5, 2020 7:43:32 GMT
From the Q&A, just so you know what is going to happen in 27 days time...... Can AC confirm that the 31st October is a final date and will not become the start of a protracted period of delays and votes? Answer (02/10/2020) AC cannot confirm this. The refinance is reliant on 3rd parties therefore is outside of our control. My position, If the money is not paid on 31st October, the borrower has failed to honour the vote, 1st November a vote with only B - administration because it is clear he is not going to return our money under ANY circumstances. This has to END...........NOW. Whist I sympathise I do not agree. The borrower wrote both options. To take it to the extreme, if the options were (A) accept £7m now in full and final or (B) give me another 5 years free riding and we voted (A) then he could fail to deliver (A) and get (B) which he also wrote.
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tonyr
Member of DD Central
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Post by tonyr on Oct 7, 2020 12:58:35 GMT
Now people are mentally anchored on getting their money back ASAP and not pushing this one into administration, I expect even if the October date is missed there will be another vote, possibly a slightly worse offer and after a few more months wrangling that or a version of it will eventually go through. Absolutely. The borrower knows what game he is playing and what our weaknesses are. I may very well be tempted to vote for administration next time though. It would be good to know how many people did vote (and so what investment would shift the vote).
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mogish
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Post by mogish on Oct 7, 2020 14:42:32 GMT
I believe we have all lost patience with this one. 20 years over various lenders , a true master at his art. I for one have already decided how my next vote will go.... nothing left to lose.
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Post by investor01010101 on Oct 10, 2020 15:00:35 GMT
I am voting B. If we all vote B, AC and the borrower will come with a better offer. I am happy to forgo the interest but they have to return the capital. That seems wishful thinking. Where is the money going to come from? The refinance doesnt have any padding in it. Its a straight choice between this and administration. The question for me is whether the outcome from administration will be more favourable. Could the administrators raise the funding to complete the infrastructure to allow the full value of the plots to be realised? Is this a possibility without involvement of the borrower? This seems to me to be something that hasnt really been explored. I believe its wishful thinking that Option A will come to fruition, there's a two year plus body of evidence that shows the borrower has no track record of adhering to any plan or payments whatsoever.....In November we will be voting again, this time for A. 66% reduction B. Administration with an expected return of next to naff all. Once you start calculating our payment as being based on what is left over from the refinance (we are at the bottom of the list) a precedence has been set that we will be happy to accept the change that is left in his pocket as he strolls off into the sunset. Interesting that AC deleted my question as to why someone would invest x million into a scheme that is stated as being worth less than y million if it went into administration.........let that sink in a while.........then ask yourself why anyone would be prepared to carry what is clearly an x-y million risk to their investment of x million.
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dermot
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Post by dermot on Oct 15, 2020 15:54:01 GMT
Only two weeks to go and we get all our capital back - I'm making plans to spend it already!
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Post by investor01010101 on Oct 20, 2020 10:51:34 GMT
11 days to go to the next disappointment, then 14 day grace period, then 14 days alternate proposal and a new vote around the end of November almost exactly a year after voting to get all our money back in the previous vote..............
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Post by investor01010101 on Oct 20, 2020 10:52:01 GMT
Only two weeks to go and we get all our capital back - I'm making plans to spend it already! you're killing me man lol
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Post by scepticalinvestor on Oct 20, 2020 12:53:48 GMT
11 days to go to the next disappointment, then 14 day grace period, then 14 days alternate proposal and a new vote around the end of November almost exactly a year after voting to get all our money back in the previous vote..............
Voting to get all our money back....has a nice ring to it!
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warn
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Curmudgeon
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Post by warn on Oct 20, 2020 13:06:39 GMT
11 days to go to the next disappointment... But surely, disappointment is having your expectations confounded. You have expectations?
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dermot
Member of DD Central
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Post by dermot on Oct 22, 2020 14:03:09 GMT
Only two weeks to go and we get all our capital back - I'm making plans to spend it already! you're killing me man lol Oh ye of little faith! I believe the borrower absolutely, I mean, when has he ever misled us?
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Post by brightspark on Oct 22, 2020 18:28:25 GMT
The borrower has never misled me. I would have had to have believed him in the first place. I have consistently voted B and will do so again given the opportunity.
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Mick
Be nice... People respond.
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Post by Mick on Oct 25, 2020 15:31:13 GMT
Canny deal this lend £6 Million, Get less back over a few years.... He's in profit! Are they all still taking a wage, from us?
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warn
Member of DD Central
Curmudgeon
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Post by warn on Oct 26, 2020 0:28:35 GMT
If I open a book with odds for the Laird parting with any of our money back to us during Nov/Dec. What odds would I have to offer to get a £10.00p bet? I'd take it at evens.
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cb25
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Post by cb25 on Oct 26, 2020 9:30:18 GMT
Today's Update "The £4m refinance proceeds have been received, the assignment taken and the security released. These proceeds will be distributed to Lenders shortly."
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