ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,840
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Post by ilmoro on May 6, 2021 19:31:01 GMT
Excuse my ignorance of the law but given her track history etc, is there not a case of this person being a vexatious litigant and if so is there any recourse to that? Also, if my memory serves me correctly, as she wasn't the borrower wasn't she unable to file anything legally? Please correct my misunderstandings and legal naivety. She cant file anything, it will be done by one of the parties to the case, but that doesnt mean she isnt potentially the one behind it. I thought there was an ECRO (Restraint Order) in force to stop further litigation.
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Mousey
Member of DD Central
Posts: 1,569
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Post by Mousey on May 6, 2021 20:27:36 GMT
Excuse my ignorance of the law but given her track history etc, is there not a case of this person being a vexatious litigant and if so is there any recourse to that? Also, if my memory serves me correctly, as she wasn't the borrower wasn't she unable to file anything legally? Please correct my misunderstandings and legal naivety. From what I recall the borrower is an off-shore company, whose shares are owned by another off-shore company, whose shares are held on trust for 'the daughter'.
The daughter therefore doesn't have standing (to use a US term) to act for the borrowing company.
You can make an application to the court to access the court file and see what it was but I personally won't be doing that. I'm going to wait and see.
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one21
Member of DD Central
Posts: 398
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Post by one21 on May 26, 2021 11:43:19 GMT
Payment just in 15.8% of capital returned!
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squid
Member of DD Central
Posts: 141
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Post by squid on May 26, 2021 12:20:59 GMT
Sums up the reality of P2P.
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rocky1
Member of DD Central
Posts: 1,119
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Post by rocky1 on May 26, 2021 12:44:43 GMT
just withdrew my pittance. cant find any breakdown or update as to if this is a interim payment or what is going on regarding further recovery.
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Post by gaza77 on May 26, 2021 15:52:16 GMT
Payment just in 15.8% of capital returned! If LAG win their case against RSM we should get more. After all, you cant change t’s & c’s, whilst no one can take their money out and just before going in to administration. Not sure the advantages of becoming creditors will do? Does anyone know if RSM/Lendy will hold back the court costs?
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adrianc
Member of DD Central
Posts: 8,948
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Post by adrianc on May 26, 2021 16:43:27 GMT
just withdrew my pittance. cant find any breakdown or update as to if this is a interim payment or what is going on regarding further recovery. Given there's a 100% reduction in security, I very much doubt there's going to be anything else coming - the chances of getting anything out of the borrower are slender. I have to be honest, it's more than I expected...!
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Post by gaza77 on May 26, 2021 17:04:50 GMT
just withdrew my pittance. cant find any breakdown or update as to if this is a interim payment or what is going on regarding further recovery. Given there's a 100% reduction in security, I very much doubt there's going to be anything else coming - the chances of getting anything out of the borrower are slender. I have to be honest, it's more than I expected...! Latest admin update says it is an interim payment.
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Grezza
Member of DD Central
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Post by Grezza on May 26, 2021 17:24:06 GMT
At long last! I haven’t withdrawn money for so long I’ve forgotten where the withdraw funds function is, can’t seem to find it at all! Can someone please give directions! Thanks.
Ooops, found it, hiding behind the deposit option!!
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quidco
Member of DD Central
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Post by quidco on May 26, 2021 17:38:46 GMT
So the Lendy "entitlement" exceeds the amount of capital returned to lenders; you would think such entitlement should not kick in until at least the capital has been returned as basically they are making a profit at our loss, effectively it's a wealth transfer mechanism.
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adrianc
Member of DD Central
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Post by adrianc on May 26, 2021 17:39:10 GMT
Given there's a 100% reduction in security, I very much doubt there's going to be anything else coming - the chances of getting anything out of the borrower are slender. I have to be honest, it's more than I expected...! Latest admin update says it is an interim payment. You are, of course, free to hold your breath for as long as you want for future payments...
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jcb208
Member of DD Central
Posts: 820
Likes: 606
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Post by jcb208 on May 26, 2021 17:56:11 GMT
At long last! I haven’t withdrawn money for so long I’ve forgotten where the withdraw funds function is, can’t seem to find it at all! Can someone please give directions! Thanks. Ooops, found it, hiding behind the deposit option!! Not withdraw any money yet ,none of my outstanding loans have returned 1p
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rocky1
Member of DD Central
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Post by rocky1 on May 26, 2021 17:59:10 GMT
just read the pdf. lendy costs,lendy fees,lendy cont entitlement+exit fee +default interest.absolute f*cking joke.it seems LB and co will have been very good at it after all. p2p firms going into administration in the manner that LY,FS,MT,COLL,ETC have done knowingly that investors who fell for blatant lies,deceit and false representation would be shafted and end up paying everything. negligent,incompetent,or down right fraudulent goes against all of the FCAs principles and these directors should be bloody locked up instead of claiming millions via their bloody dodgy T&Cs. how the heck are they entitled to interest and default interest let alone exit fees. sorry for the rant just makes my blood boil how all this is perfectly legal and we have to pay for the lot of it.
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neeps
Posts: 79
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Post by neeps on May 26, 2021 18:06:30 GMT
just read the pdf. lendy costs,lendy fees,lendy cont entitlement+exit fee +default interest.absolute f*cking joke.it seems LB and co will have been very good at it after all. p2p firms going into administration in the manner that LY,FS,MT,COLL,ETC have done knowingly that investors who fell for blatant lies,deceit and false representation would be shafted and end up paying everything. negligent,incompetent,or down right fraudulent goes against all of the FCAs principles and these directors should be bloody locked up instead of claiming millions via their bloody dodgy T&Cs. how the heck are they entitled to interest and default interest let alone exit fees. sorry for the rant just makes my blood boil how all this is perfectly legal and we have to pay for the lot of it. DITTO
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NSFW
Posts: 118
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Post by NSFW on May 26, 2021 18:13:50 GMT
Reminds me of CEOs getting rewarded for driving a company into the ground. We're just not in their club, so we get shafted.
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