neal
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Post by neal on Jan 30, 2019 16:19:29 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! I'm inclined to agree, They already show a complete disregard for the lenders whos money is earning them a wage. We can't make it easy for them to walk away from this. Personally, I have twice the amount trapped in Lendy that is trapped in Col. I really would have big problems if Lendy goes to the wall.
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adrianc
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Post by adrianc on Jan 30, 2019 17:10:49 GMT
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. While I basically agree, there's a fundamental difference with the COL mess. Ly are FCA authorised. Part of that authorisation is having a wind-down process in place, and approved by the FCA. We also shouldn't have the utter fiasco where the original administrators "forgot" to secure the loanbook, leaving nearly two months between the shutters going up and anybody wondering about who was owed how much from what loans, only to find the servers had been decommissioned and recycled with no backups in place...
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r1200gs
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Post by r1200gs on Jan 30, 2019 17:54:57 GMT
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. While I basically agree, there's a fundamental difference with the COL mess. Ly are FCA authorised. Part of that authorisation is having a wind-down process in place, and approved by the FCA. We also shouldn't have the utter fiasco where the original administrators "forgot" to secure the loanbook, leaving nearly two months between the shutters going up and anybody wondering about who was owed how much from what loans, only to find the servers had been decommissioned and recycled with no backups in place... Bloody hell! I know nothing much about COL but sweet Jesus, what?! That is absolutely shocking.
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Post by Deleted on Jan 30, 2019 18:04:30 GMT
Yeah, COL sh@t the bed quite impressively.
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Jan 30, 2019 23:12:43 GMT
Yeah, COL sh@t the bed quite impressively. May still get cleaned up when all comes out in the wash.
Back to topic when many joined it was "Saving Stream" with their T&Cs. Not sure of implications but it does no harm to find out options and possible outcomes. The Assets still have value so full amount would not be the outstanding amount,
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Post by cheetah on Jan 31, 2019 11:09:53 GMT
I'm also in DFL001 and DFL002, but I can't send a PM to Jeepers, as others have reported.
Please send me a PM if it would help to register my interest.
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one21
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Post by one21 on Jan 31, 2019 23:29:04 GMT
Hi All,
I'm also in DFL 001 and 002. for a couple of K's
As there is an update to be issued imminently, I personally would like to give them the benefit of the doubt, and find out if they have anything significant to report. I think they are grasping to stay afloat which is in all our best interests - I understand many Lenders are anxious for the return of their funds, however, I take the view that in the long term property values do usually appreciate.
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invester
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Post by invester on Jan 31, 2019 23:55:37 GMT
Maybe that is their strategy.
Selling off the properties in 2032 might see the capital paid off, although forget any interest.
Nobody ever loses a penny!
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Post by spareapennyor2 on Feb 1, 2019 16:33:03 GMT
is it me looks like updates for DFL001 / DFL002 are the wrong way round?
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copacetic
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Post by copacetic on Feb 1, 2019 16:48:45 GMT
is it me looks like updates for DFL001 / DFL002 are the wrong way round?
Seems so. I'm only in DFL002 not DFL001 so I was wondering what the access issue mentioned in the update was.
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Post by westcountryfunder on Feb 1, 2019 17:23:18 GMT
is it me looks like updates for DFL001 / DFL002 are the wrong way round? I'm sure you're right, but far from convinced there is any meaningful progress! Meanwhile no doubt some nice juicy fees are accruing to our detriment.
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averageguy
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Post by averageguy on Feb 1, 2019 17:30:57 GMT
is it me looks like updates for DFL001 / DFL002 are the wrong way round? I'm sure you're right, but far from convinced there is any meaningful progress! Meanwhile no doubt some nice juicy fees are accruing to our detriment. Agreed...I was looking at it and thinking what access problem (I am in DFL002).....its all back to square one ..but at least there is some sort of plan ...it seems all about Harrison Recovery ...I have no experience of them but they seem to be involved in the majority of the  I am left in....so back to a bit of wait and see
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garfield
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Post by garfield on Feb 3, 2019 13:17:47 GMT
Harrison Recovery - nothing to do with HCR, I presume? (see London loans)
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Post by loftankerman on Feb 3, 2019 14:58:10 GMT
Harrison Recovery - nothing to do with HCR, I presume? (see London loans) I Google'd Harrison Recovery and got a sponsored Amazon advertisement trying to sell me bird seed. Most of Lendy's stuff seems to be 'for the birds', so you may be on track.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Feb 3, 2019 15:45:55 GMT
'Be brave enough to start a conversation that matters.
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I am left in....so back to a bit of wait and see 
