rookey123
Member of DD Central
Posts: 75 
Likes: 130
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Post by rookey123 on Feb 28, 2019 19:49:57 GMT
Massive round of applause for Assetz. Reputation is everything.
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alibaba
Member of DD Central
Posts: 341
Likes: 245
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Post by alibaba on Feb 28, 2019 20:17:04 GMT
I wouldn't be writing anything off here, mentally or whatever. These loans were supposed to be done by tranche drawdowns. As stated in the loan information which forms part of the contract with the lenders. So the money will need to be refunded and Az will have to pursue the lost funds themselves. There you go, Nostra-Confident strikes again. Congrats Mr confident what's your view on the DM loan.
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Post by captainconfident on Feb 28, 2019 20:36:50 GMT
There you go, Nostra-Confident strikes again. Congrats Mr confident what's your view on the DM loan. I gaze into the future..... I see.... a change of address! Yes, the Assetz headquarters address on a brass plaque, on the clubhouse of a Scottish golf course!
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Post by df on Feb 28, 2019 20:47:42 GMT
Excellent news! I'm sure most lenders in I** will appreciate the proposed outcome. Very good for restoring lender's confidence in the platform. When the process is concluded I'm most likely to reinvest received funds back in AC.
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lara
Posts: 345
Likes: 300
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Post by lara on Mar 1, 2019 9:27:06 GMT
I'm not invested in these loans (I'm relatively new to P2P and AC) but have been following the situation closely. I'm just delighted to see these reactions to what is obviously good news. Congratulations, guys!  |
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angrysaveruk
Member of DD Central
Say No To T.D.S
Posts: 1,331
Likes: 788
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Post by angrysaveruk on Mar 1, 2019 9:43:04 GMT
Great news!
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Post by hammertime on Mar 1, 2019 10:46:41 GMT
Never doubted A/C for a minute . |
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Post by geoffrey on Mar 1, 2019 11:17:15 GMT
I'm very relieved. I think the proposal is fair.
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Post by jevans4949 on Mar 1, 2019 11:27:00 GMT
Much better outcome than I expected, especially since it covers MLA investors too. Even paying some interest!
Tough news for the shareholders.
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lobster
Member of DD Central
Posts: 636
Likes: 467
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Post by lobster on Mar 1, 2019 11:37:59 GMT
Much better outcome than I expected, especially since it covers MLA investors too. Even paying some interest!
Tough news for the shareholders.
Not necessarily. There have been at least a couple of comments from lenders who have been understandably encouraged by this turn of events, and as a result have said they would be confident in committing further funds to the platform. I think there will be plenty of others, myself included, who are of a like mind. That's good news for shareholders. Not sure exactly what I can say here, but it seems that AC may be able to recover a good proportion of the loan monies from a couple of potential sources, so the financial hit may be a lot let severe than some might think. So that's also good news for shareholders.
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Post by geoffrey on Mar 1, 2019 11:42:47 GMT
Much better outcome than I expected, especially since it covers MLA investors too. Even paying some interest!
Tough news for the shareholders.
I actually think it's good news for the shareholders (of which I am one). I am also a lender. If Assetz hadn't made good on their alleged mistakes / alleged problems with due diligence (I choose my words carefully), their reputation could have tanked, at the very least, and at worst, lengthy wrangling with lenders and even FCA. An impairment in medium-term value on a non-volatile/illiquid exchange (Seedrs) is nothing compared to a business with a bargepole reputation. Assetz is proving that it is serious about its business, and won't push its alleged mistakes onto lenders. Yes, it may be painful if there is little security to be recovered, but learning from alleged mistakes makes a company stronger. If I have one criticism, it is the slowness to address lenders' concerns in several threads here, leading to some very negative comments that could have been avoided.
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angrysaveruk
Member of DD Central
Say No To T.D.S
Posts: 1,331
Likes: 788
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Post by angrysaveruk on Mar 1, 2019 12:49:26 GMT
Much better outcome than I expected, especially since it covers MLA investors too. Even paying some interest!
Tough news for the shareholders.
I actually think it's good news for the shareholders (of which I am one). I am also a lender. If Assetz hadn't made good on their alleged mistakes / alleged problems with due diligence (I choose my words carefully), their reputation could have tanked, at the very least, and at worst, lengthy wrangling with lenders and even FCA. An impairment in medium-term value on a non-volatile/illiquid exchange (Seedrs) is nothing compared to a business with a bargepole reputation. Assetz is proving that it is serious about its business, and won't push its alleged mistakes onto lenders. Yes, it may be painful if there is little security to be recovered, but learning from alleged mistakes makes a company stronger. If I have one criticism, it is the slowness to address lenders' concerns in several threads here, leading to some very negative comments that could have been avoided. I totally agree this is a good move on behalf of AC. Overall AC is a great company and it would be a shame if they let their reputation get tarnished by these loans.
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alibaba
Member of DD Central
Posts: 341
Likes: 245
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Post by alibaba on Mar 1, 2019 12:59:05 GMT
The response taken by AC will pay dividends to them as a company, reputation and trust is priceless, some other p2p sites should learn from this.
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mj
Posts: 37
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Post by mj on Mar 1, 2019 13:36:42 GMT
The response taken by AC will pay dividends to them as a company, reputation and trust is priceless, some other p2p sites should learn from this. Perhaps AC could be persuaded to take over Lendy's broken loans.
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Post by hammertime on Mar 1, 2019 14:08:09 GMT
Or maybe look at the Midland loans.
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