adrian77
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Post by adrian77 on Dec 20, 2018 20:59:29 GMT
I thought loan 3059445627 had been repaid so the loan for the speedboat and we were talking about £550K for the speedboat which was/has been updated and was due 05/06/2016.
Hope we are now all on the same hymn sheet over that one.
Where I am confused is what is the connection between the electric boat and this team and whether FS have any charge over the electric boat company?
"Pussycat Scalar" racing shows the electric boat (fantastic piece of kit) and also the speedboat above but it is not clear to me who actually owns the electric boat
Maybe the above emails will force FS to actually comment on what is actually going on here - I do hope so!
As to the RTW boat - I thought the latest loan application was cancelled so I am a bit puzzled as to how much money they have? I hope they do get sponsorship but there is German competition and I wonder how much of a risk it would be to a sponsor who would probably not appreciate the boat failing to beat the world record or even sinking...
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arby
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Post by arby on Dec 20, 2018 21:24:23 GMT
I thought loan 3059445627 had been repaid so the loan for the speedboat and we were talking about £550K for the speedboat which was/has been updated and was due 05/06/2016. Hope we are now all on the same hymn sheet over that one. Where I am confused is what is the connection between the electric boat and this team and whether FS have any charge over the electric boat company? "Pussycat Scalar" racing shows the electric boat (fantastic piece of kit) and also the speedboat above but it is not clear to me who actually owns the electric boat Maybe the above emails will force FS to actually comment on what is actually going on here - I do hope so! As to the RTW boat - I thought the latest loan application was cancelled so I am a bit puzzled as to how much money they have? I hope they do get sponsorship but there is German competition and I wonder how much of a risk it would be to a sponsor who would probably not appreciate the boat failing to beat the world record or even sinking... The renewal was cancelled, not a new tranche. So the same investors are still in it.
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bg
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Post by bg on Dec 20, 2018 21:40:33 GMT
I thought loan 3059445627 had been repaid so the loan for the speedboat and we were talking about £550K for the speedboat which was/has been updated and was due 05/06/2016. The loan due 5/6/16 was repaid on 17/6/16. If you thought you were talking about this loan, why did you set the poll up with reference to completing the build or waiting for sponsorship? The loan was against a fully completed boat and they were never looking for sponsorship. It seems really clear what is going on to everyone other than yourself!
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adrian77
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Post by adrian77 on Dec 21, 2018 8:14:49 GMT
not according to my personal messages...
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bg
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Post by bg on Dec 21, 2018 8:19:15 GMT
not according to my personal messages... produced you a nice summary yesterday. Try reading that again.
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Post by brightspark on Dec 21, 2018 9:04:44 GMT
Now I am confused. I am stuck in £650,000 loan 4945807152 which has been active for 980 yes 980 days for a 2015 spec F1 styled V***** M****** V-40R Power Boat. This does not tally with much of what is being written. Can someone clarify? I am only in it for 50 quid so no big deal.
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adrian77
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Post by adrian77 on Dec 24, 2018 9:58:56 GMT
Poll closes on 2nd Jan - looks as if their is a small majority decision is to repossess the boat as she is rather than wait for the "imminent" sponsorship
thanks for all who voted
well it is not even looking good for January 2019!
I also read
Well I guess a week is a long time in FS world...
Surely we won't be getting this same rubbish this time next year?
As I said before this boat model has now been superseded and is about 5 years old so just can't see any sponsorship...I also worry what she will so for but what do I know.
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Post by brightspark on Dec 24, 2018 10:19:13 GMT
No need to worry about the uncertainty. Lenders are going to take an almost total loss. Thank you very much Funding (In)Secure!
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bg
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Post by bg on Dec 24, 2018 10:27:28 GMT
Poll closes on 2nd Jan - looks as if their is a small majority decision is to repossess the boat as she is rather than wait for the "imminent" sponsorship You've got your boats mixed up again. It's the endurance round the world record attempt boat that is looking for a sponsor (and is 6 months late). This (unrelated) boat is waiting for an equity partner to inject funds to repay the debt. The boat is also fully completed (and has been all along) so the poll really makes no sense.
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adrian77
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Post by adrian77 on Dec 24, 2018 10:45:05 GMT
Sadly I suspect you are correct although if this company don't actually own the boat or she has "gone walkies" to mix my metaphors we could be looking at a 100% loss
Also I don't appreciate being told I am mixing up my boats when I am not - I have contacted the company concerned for this V40R SPEEDBOAT and asked them about sponsorship so I have got my facts right unless you think their reply wasn't honest - of course I could make patronising and unfounded comments against others but that is not my style. I realise the FS updates talk about refinancing but after all this time and without any sponsorship I really can't see this coming about after all this time.
Just my personal opinion.
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bg
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Post by bg on Dec 24, 2018 13:01:09 GMT
Sadly I suspect you are correct although if this company don't actually own the boat or she has "gone walkies" to mix my metaphors we could be looking at a 100% loss Also I don't appreciate being told I am mixing up my boats when I am not - I have contacted the company concerned for this V40R SPEEDBOAT and asked them about sponsorship so I have got my facts right unless you think their reply wasn't honest - of course I could make patronising and unfounded comments against others but that is not my style. I realise the FS updates talk about refinancing but after all this time and without any sponsorship I really can't see this coming about after all this time. Just my personal opinion. So what's all this stuff about the boat not being completed? If you have evidence that it's not a completed boat then you should share it with the forum instead of making unfounded comments. Same goes for the implication that the boat isn't actually owned by the borrower.
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adrian77
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Post by adrian77 on Dec 24, 2018 17:07:00 GMT
Not sure if the boats have been overhauled - maybe this lot spent money overhauling the engines ready for them not to race ?
As to who owns the boats - I asked FS but they refused to comment - I did not say they were not owned by this company just that it was not clear who owned the damn thing. Considering
loans have been advanced against loans not secured against properties it's a reasonable question!
Just hit boredom overload on this one so will patiently wait and see what 2019 brings...
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Dec 25, 2018 13:48:24 GMT
Not sure if the boats have been overhauled - maybe this lot spent money overhauling the engines ready for them not to race ? As to who owns the boats - I asked FS but they refused to comment - I did not say they were not owned by this company just that it was not clear who owned the damn thing. Considering loans have been advanced against loans not secured against properties it's a reasonable question! Just hit boredom overload on this one so will patiently wait and see what 2019 brings... FS don't have a claim on it/them then do they. Lenders are high and dry on these/this, unless FS would care to clarify? And with proof, not just fatuous words. Merry Crimbo everybody.
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bg
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Post by bg on Dec 25, 2018 17:44:13 GMT
Not sure if the boats have been overhauled - maybe this lot spent money overhauling the engines ready for them not to race ? As to who owns the boats - I asked FS but they refused to comment - I did not say they were not owned by this company just that it was not clear who owned the damn thing. Considering loans have been advanced against loans not secured against properties it's a reasonable question! Just hit boredom overload on this one so will patiently wait and see what 2019 brings... The borrowers identity is confidential. That is not just a FS (or any other platform) rule but also a forum rule (which hasn't stopped you guessing incorrectly on other loans). It's therefore not a reasonable question at all. For some reason you seem to be unsure if the boat has been completed. Maybe ask them that one instead. Or if you really are bored of it, how about just knock all the scaremongering on the head?
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Post by Proptechfish on Jan 1, 2019 19:39:30 GMT
Vote withdrawn, wrong loan (i think). I didn't even know about the other boat loans, before my FS time.
Most confusing thread I've read to date, but it made me smile.
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