alanh
Posts: 556
Likes: 560
|
Post by alanh on Sept 6, 2019 14:46:34 GMT
Well he's been called out and its gonna cost him quite a bit to stay in the game. Lets see if he stumps or runs away with his tail between his legs. As he appears to have no chance, I would imagine the latter.
|
|
sjg
Member of DD Central
Posts: 67 
Likes: 61
|
Post by sjg on Sept 6, 2019 15:02:42 GMT
Well I assume a certain person will be reading this forum so would like to say. Actually I can't say what I would like to say so will just  at him ...  |
|
hendragon
Member of DD Central
Posts: 631
Likes: 619
|
Post by hendragon on Sept 6, 2019 15:14:47 GMT
I am starting to think it might be cheaper for him to pay the interest or default and give up the security.
|
|
Ukmikk
Member of DD Central
Posts: 452
Likes: 306
|
Post by Ukmikk on Sept 6, 2019 15:37:15 GMT
Excellent news. That should be the end of that idiot. It's good news, but i don't think it's the end yet. Agreed. I think this is a setback but not necessarily the end of it, depends on how the borrower reacts. I think this ruling relates to the issue of individual lenders rather than the 'case' as a whole. It would be great of course if he does drop the case now. Of course I'm no expert.
|
|
dermot
Member of DD Central
Posts: 863
Likes: 517
|
Post by dermot on Sept 6, 2019 15:56:48 GMT
Excellent news and I hope I can't be blamed for previously withdrawing (setting autolend to zero and withdrawing the cream every month) due to being bitten twice now by other platforms. However, I am so impressed at the stand they have taken that I will be reversing my decision and will be stuffing into the platform as much as it will allow without cash drag (which no doubt now will be a lot higher due to this). Also plan to congratulate them directly via email. No, no - please keep your money in your nice safe bank account - my UB autoinvestments have been a bit higher recently!
|
|
huxs
Member of DD Central
Posts: 300 
Likes: 218
|
Post by huxs on Sept 6, 2019 16:02:21 GMT
Well done unbolted, can we rename the thread now |
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
|
Post by ozboy on Sept 6, 2019 17:33:01 GMT
Don't tempt fate! The fat lady ain't even started practicing her singing yet methinks.  |
|
travolta
Member of DD Central
Posts: 1,506
Likes: 1,214
|
Post by travolta on Sept 6, 2019 17:48:27 GMT
Rather similar to the Lendy' london loan'. The Borrower finally balked at lodging an expensive bond against future costs. I imagine that's the test that the Judge is setting this fellow too....to stop him wasting Courts' time.
|
|
|
|
Post by chrisp2p on Sept 7, 2019 1:36:41 GMT
I read Unbolted’s comms to mean that the borrower had to pay the £42k towards legal fees already incurred defending against providing individual lenders details rather than future costs
My understanding was also that the case had no real legal basis but was only being brought because the borrower thought he could intimidate individual lenders. Now he can’t it will be interesting to see if it is progressed
|
|
|
|
Post by chrisp2p on Sept 7, 2019 1:52:28 GMT
It looks like the borrower has about £200k of loans with unbolted, £42.5k costs is a huge amount
i suspect unbolted will not re-new the loan and I doubt anyone else will
ouch!
|
|
|
|
Post by chrisp2p on Sept 7, 2019 1:56:28 GMT
I just can’t get an image of a Wiley old coyote trying to catch road runner but the anvil has just landed on his own head - out of my head
beep beep
|
|
|
|
Post by df on Sept 7, 2019 2:47:48 GMT
I read Unbolted’s comms to mean that the borrower had to pay the £42k towards legal fees already incurred defending against providing individual lenders details rather than future costs My understanding was also that the case had no real legal basis but was only being brought because the borrower thought he could intimidate individual lenders. Now he can’t it will be interesting to see if it is progressed My conspiracy theory is - he's got the "get individual lenders details" idea from "The London" borrower's case where the court decided in favour of such request I hope this failed attempt will deter any future adventurous borrowers to pursue this path.
|
|
|
|
Post by Ace on Sept 7, 2019 7:17:37 GMT
Does anyone know whether the £42k will now effectively form a first charge against our security?
Even if it did I'd be happy to suffer a haircut in order to see this "gentleman" get his comeuppance, but just wondering where we stand with regards to Unbolted ecovering the £42k.
|
|
|
|
Post by nooneere on Sept 7, 2019 8:16:41 GMT
I read Unbolted’s comms to mean that the borrower had to pay the £42k towards legal fees already incurred defending against providing individual lenders details rather than future costs My understanding was also that the case had no real legal basis but was only being brought because the borrower thought he could intimidate individual lenders. Now he can’t it will be interesting to see if it is progressed That was my reading - it is a payment he must make irrespective of whether the main case is progressed, and he has to pay WITHIN 28 DAYS. Courts do not automatically award costs against the losing party in civil cases, and it means the judge really disliked the borrower's application. I think this IS the end of the legal road for the borrower. As a lawyer himself, he must recognise that the court is against him. And as I said earlier, what a disastrous advert for his own legal practice. Obviously this case has major positive implications for P2P in general - the unfortunate precedent set by the London loan is negated.
|
|
agent69
Member of DD Central
Posts: 6,042
Likes: 4,437
Member is Online
|
Post by agent69 on Sept 7, 2019 9:00:52 GMT
Obviously this case has major positive implications for P2P in general - the unfortunate precedent set by the London loan is negated. I assume it is confirmation that every application will be treated on its merits (so disclosure of lender details could occur again).
I am certain he would like to pay the £42k using our assets, but assume he would need to prove to the courts that he is otherwise penniless. A strange situation to get into if you have associated with the good and the great of London legal circles for many years. You would think this guy should be rolling in cash.
I wonder where it all went wrong?
|
|
at him ... 
