tommytaylor
P2P - The new wild west
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Post by tommytaylor on Oct 11, 2018 10:47:30 GMT
Without going into any detail can anyone confirm if they have sort legal advice over the contents of Lendys update.
Its been a few weeks now and we have not heard a dickybird from them which is about right for that lot.
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Post by mrclondon on Oct 11, 2018 11:00:02 GMT
Too early, its only a threat for now.
L have arranged a firm to provide free initial independent legal advice if/when the time comes.
It could be months before Lendy issue another update, so its best to stop worrying. What will be, will be.
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tommytaylor
P2P - The new wild west
Posts: 232
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Post by tommytaylor on Oct 11, 2018 11:05:23 GMT
Too early, its only a threat for now.
L have arranged a firm to provide free initial independent legal advice if/when the time comes.
It could be months before Lendy issue another update, so its best to stop worrying. What will be, will be.
Your probably right. I would be amazed if what was being threatened turned out to be the case
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sl75
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Post by sl75 on Oct 12, 2018 9:39:42 GMT
I had contact with the solicitor acting on behalf of Lendy at the end of Sept. The person I spoke to confirmed that a portal of some description is being set up to enable investors to access relevant material. Have heard nothing since. I would assume the "portal" referred to would be the same page that we already know about, and that further information that is cleared for release to "investors" would appear there as and when it is cleared for release.
It seems to me that the main problem (and one that all P2P platforms need to take into consideration) is that any communications made to "investors" must be assumed to be immediately available to the borrower and their legal team. With thousands of investors having participated in an individual loan, a "mole" who immediately passes on all information to the borrower would seem practically impossible to identify if they don't do anything to draw attention to themselves.
Unfortunately, platforms can never assume they can somehow privately communicate with "investors" without also communicating the same information to the borrower, so my personal preference is for the minimum information necessary to be broadcast to "all investors", meaning that less information is potentially available to a canny borrower who invested in their own loan (or arranged for a "mole" to do so on their behalf). If a platform explains in detail their intended actions to investors in advance, it doesn't really give me any information I can act on, but it certainly gives the borrower information they can act on...!
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Post by GSV3MIaC on Oct 12, 2018 20:56:08 GMT
Important email notification should have been received by lenders in this loan.
Are you referring to the one over a week ago, or something more current?
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debaura
Member of DD Central
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Post by debaura on Oct 12, 2018 20:58:34 GMT
Important email notification should have been received by lenders in this loan. Another one?
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zlb
Member of DD Central
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Post by zlb on Oct 13, 2018 16:16:59 GMT
... Reveal of info can be cryptic or tactical. Dummy security alarms stuck on houses are an intentional reveal of info, and yet the house key could be inside the dummy box.
That's a replacement for an actual metaphor for what I think about this.
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zlb
Member of DD Central
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Post by zlb on Oct 13, 2018 16:19:36 GMT
Important email notification should have been received by lenders in this loan. Another one? there was an update about the importance of radio silence in a claims process, investors having revealed information. I think there was a link to further info about why they can't reveal information, on their main site.
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Post by zzr600 on Oct 15, 2018 15:46:10 GMT
Has anyone else received an update via email today? I was a bit confused..
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zlb
Member of DD Central
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Post by zlb on Oct 15, 2018 16:38:54 GMT
Has anyone else received an update via email today? I was a bit confused.. no
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Post by zzr600 on Oct 15, 2018 16:40:15 GMT
it was from the solicitors. Wasn't clear to me what it meant
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zlb
Member of DD Central
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Post by zlb on Oct 15, 2018 22:23:51 GMT
Today is clarification of a rather confusing previous comm sent out only to those in direct contact with the sender. direct contact with the sender being voluntary? Perhaps it ought not be.
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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 Oct 15, 2018 22:28:08 GMT
Today is clarification of a rather confusing previous comm sent out only to those in direct contact with the sender. direct contact with the sender being voluntary? Perhaps it ought not be. Cant force people plus cost. Wider comms will come once situation is clarified.
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zlb
Member of DD Central
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Post by zlb on Oct 15, 2018 23:10:45 GMT
direct contact with the sender being voluntary? Perhaps it ought not be. Cant force people plus cost. Wider comms will come once situation is clarified. think I must have missed a communication as I had no idea that this was in place.
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Post by gaspilot on Oct 16, 2018 8:16:12 GMT
I didn't get the email. I think I should have.
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