|
|
Post by mrclondon on Jan 28, 2019 18:17:55 GMT
Can Lendy afford to payout on these loans if you are successful AND continue to defend the London Loans ?
Is there a danger of simply driving Lendy out of business ? Is that the aim ? If so what about lenders in all the other loans ?
If Lendy go out of business I think it fair to assume that Lenders in the London loan will struggle to avoid being on the hook for the full damages claimed in that case.
Be careful what you wish for ,.....
DFL001 c. £6m capital
DFL002 c. £3m capital PBL027 c. £3m capital PBL056 c. £171k capital
Where is Lendy supposed to find over £12m from ?
|
|
|
|
Post by Proptechfish on Jan 28, 2019 19:19:46 GMT
At a glance it sounds like a good idea, but the more I think about the more I think it will end in tears. I think LY are in mess because of systemic failure in process's, which happened at the start of deals. Deals they are now suck in as well as 1000's lenders for various reasons. The threat of legal action by lenders, I don't think will encourage them to improve deals they can't do a lot with, but rather think it's time to call it a day. A potential death nail in c£90 mill loan book, COL X 5!
|
|
ianj
Member of DD Central
Posts: 656 
Likes: 520
|
Post by ianj on Jan 28, 2019 19:21:58 GMT
The legal case will take time and any settlement won’t be payable until after the London Court case. By which time Liam might be doing a fair impersonation of Old Mother Hubbard! 
|
|
dApps
Posts: 91
Likes: 80
|
Post by dApps on Jan 28, 2019 20:40:04 GMT
Presumably, if Jeepers and the law firm take action knowing it'll damage the 5000, the 5000 can take action against Jeepers and the law firm. Is this what the old british empire used to call divide and conquer? Is Jeepers another shill? Sigh. With a registration date of Feb' 2016 he's been a very long-standing one.  I'm prepared to at least hear him out and then take a view on the matter.
|
|
MarkT
Member of DD Central
Posts: 190
Likes: 159
|
Post by MarkT on Jan 28, 2019 20:44:38 GMT
The legal case will take time and any settlement won’t be payable until after the London Court case. By which time Liam might be doing a fair impersonation of Old Mother Hubbard!
I am sure his own personal cupboard will be very full indeed.
|
|
sydb
Member of DD Central
Posts: 345
Likes: 316
|
Post by sydb on Jan 28, 2019 22:52:28 GMT
We don't know how long the London legal proceedings will take. More to the point, for many of those invested, if they see a way out, they will take it, even if it means trampling on others. It's what happens when a ship is sinking. One problem might be your legal fees, though, if the company you are trying to get money off has relatively nothing and goes bust.
|
|
bugs4me
Member of DD Central
Posts: 1,845
Likes: 1,478
|
Post by bugs4me on Jan 29, 2019 10:34:00 GMT
Can Lendy afford to payout on these loans if you are successful AND continue to defend the London Loans ?
Is there a danger of simply driving Lendy out of business ? Is that the aim ? If so what about lenders in all the other loans ?
If Lendy go out of business I think it fair to assume that Lenders in the London loan will struggle to avoid being on the hook for the full damages claimed in that case.
Be careful what you wish for ,.....
DFL001 c. £6m capital
DFL002 c. £3m capital PBL027 c. £3m capital PBL056 c. £171k capital
Where is Lendy supposed to find over £12m from ?
It wouldn’t surprise me (although I have no proof) if any proposed/potential legal proceedings are being driven by sheer frustration. Whilst there exists an obvious advantage for a platform to engage in can-kicking, it does get to the stage where many investors would simply prefer to see the cessation of a loan, take any losses on the chin and move on. Unfortunately the attitude towards lender’s adopted by some platforms is infantile to say the least and this is demonstrated when they issue an update. It’s not in anyone’s interests to see a platform fail. At the same time a more realistic and mature approach towards loan recoveries wouldn’t go amiss. I think we’re all rather tired of hearing about the ‘turning over a new leaf’ promise or ‘let’s give the new team a chance’. We’re now firmly at the stage where actions definitely speak loader than words. Just my thoughts.
|
|
|
|
Post by ramses505 on Jan 29, 2019 11:01:50 GMT
APPLIES TO INVESTORS IN DFL001, DFL002, PBL027, PBL056 A top 100 law firm is preparing a case against Lendy regarding the old structured loans to recover all capital and outstanding interest. Please send me a PM for details on how to register your interest in the claim.
Hi Jeepers, you may not have noticed, but I and some other members have mentioned that it is not possible to send PM's to anyone other than staff members. Not sure how we can contact you.
Thanks
|
|
|
|
Post by Badly Drawn Stickman on Jan 29, 2019 11:10:58 GMT
APPLIES TO INVESTORS IN DFL001, DFL002, PBL027, PBL056 A top 100 law firm is preparing a case against Lendy regarding the old structured loans to recover all capital and outstanding interest. Please send me a PM for details on how to register your interest in the claim.
Hi Jeepers, you may not have noticed, but I and some other members have mentioned that it is not possible to send PM's to anyone other than staff members. Not sure how we can contact you.
Thanks
I would guess you just need a preset number of posts (Obviously to prevent spamming). It could well be that that number is 10. Try again. If not maybe a mod could give the number, that could be stated on future occasions.
|
|
|
|
Post by Deleted on Jan 29, 2019 11:20:45 GMT
I suppose if you only have investments in these loans, then this approach could make sense.
If you have exposure to any other loans though, then this could be a case of winning a battle, but losing the war...
|
|
pom
Member of DD Central
Posts: 1,922 
Likes: 1,244
|
Post by pom on Jan 29, 2019 11:21:58 GMT
Hi Jeepers, you may not have noticed, but I and some other members have mentioned that it is not possible to send PM's to anyone other than staff members. Not sure how we can contact you.
Thanks
I would guess you just need a preset number of posts (Obviously to prevent spamming). It could well be that that number is 10. Try again. If not maybe a mod could give the number, that could be stated on future occasions. There's no obvious reason for getting that message - I found I had it just over a year ago, could reply to PMs initiated by others but could no longer start my own threads (had been working when I'd previously tried a few months before) and the mods could fix it but couldn't explain why it had happened in the first place. So only way to fix it is contact mods/admin
|
|
|
|
Post by Badly Drawn Stickman on Jan 29, 2019 11:29:18 GMT
I suppose if you only have investments in these loans, then this approach could make sense. If you have exposure to any other loans though, then this could be a case of winning a battle, but losing the war... I have investments in 'both camps' but have not been involved in any of the PM's It does seem a bit like sawing through the branch you are sitting on, then given there seems to be beavers busy at the bottom of the tree making a smart decision is tricky at the moment.
|
|
michaelc
Member of DD Central
Say No To T.D.S.
Posts: 5,710
Likes: 2,985
Member is Online
|
Post by michaelc on Jan 29, 2019 18:58:44 GMT
Not sure if Jeepers is being selective but he appears to have ignored my PM.
|
|
boundah
Member of DD Central
Posts: 368
Likes: 430
|
Post by boundah on Jan 30, 2019 14:31:52 GMT
Presumably, if Jeepers and the law firm take action knowing it'll damage the 5000, the 5000 can take action against Jeepers and the law firm. Is this what the old british empire used to call divide and conquer? Is Jeepers another shill? Sigh. 1. I’ve had 6 figures invested in P2P for nearly 4 years (although now down to 5 figures). 2. I’ve made over 700 posts and been registered on the forum for 3 years. 3. This is nothing to do with the London loans. If Lendy goes bust, it’s their own fault. I agree most of this sorry saga is of LY's own making. But if we help them into administration we'll be partly responsible for what could turn into another COL fiasco. I'm not sure what the answer is, but I'm pretty sure hastening their demise isn't one of them.
|
|
|
|
Post by empyrean on Jan 30, 2019 16:06:34 GMT
I've had the good fortune to be invested in DFL001 & 002, Jeepers, but appear to be unable to send you a PM (presumably due to my low post count).
I'm invested in DFL001 & 002, but for relatively small amounts (about £1,200 overall), but I'm in agreement with you in that I think Lendy will simply grind their heels into the mud over these loans until they become insolvent.
Given that I'm small beer in all of this, I understand that I may not be able to contribute much to your effort, but if you feel otherwise then please do send me a PM (if you're able), as I'd be very interested in learning more about what can be done.
|
|
