"Lendy in talks about selling loan book" -FT

I think there is every possibility that they can sell the loan book or parts of it below par under the T&Cs that they have with investors - they could justify that a refinancing of the underlying loan is the best way to get some money back to investors.  As previously pointed out, even if they undertake a vote, they don't have to stick to it.  I would imagine the recent departures, company loan with charge against property is all part of positioning for them to get out.  I only hope that someone like the FCA can ensure that investors are not shafted in the process, although I doubt they can/will do much until after the event.

I think some of the loans have decent prospects of getting full capital back, but some clearly do not.  The problem is that once the loan is discharged and Lendy have pulled out, there is no incentive for anyone to pursue the residual losses against the borrowers through the courts for the benefits of the lenders - the new owners of the loans won't do this.  I presume that selling the loan book could still mean that loans are sold at differing discounts depending on the quality of the underlying security.  But selling a distressed loan is not going to raise a lot.  What's the betting that the discretionary provision fund also disappears and isn't put into the pot.

The only certainty is that, in a distressed sale, all prior valuations go out the window.

Whilst such an exit route may produce some funds quicker, it is most likely those funds will be far less than otherwise, in the majority of loans. Obviously there are some complete turkeys where any return would be welcome!

'Potential'? It already has. In my view Wealth was only set up as an answer to the problem of tranches not getting funded. 

You would think that they might choose to write a response on the website, but the guy that would have written it seems to have left. 
You would think that they could choose to trade their way out of it, but the guy that would have originated the deals also seems to have left.

Lendy - P2P Independent forum platform of the year 2015, runner up 2016, 8th place 2017.

Indeed. Collateral was 3rd in 2016, runner up in 2017 and look where they are in 2018!