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Post by feedme on Apr 30, 2023 7:33:21 GMT
I'd like an update with this. Aren't we meant to be getting a quarterly update for the entire loan book? Last loanbook update was 25th Jan, so next one is presumably due on 25th April. Great, look forward to it any moment.
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Nomad
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Post by Nomad on Sept 7, 2023 10:04:11 GMT
I'd like an update with this. Aren't we meant to be getting a quarterly update for the entire loan book? Last loanbook update was 25th Jan, so next one is presumably due on 25th April. Has anyone heard anything on this since January?
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travolta
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Post by travolta on Sept 7, 2023 10:15:05 GMT
Nope .
Anyone?
Any ideas on 'how to proceed' would be most welcome....
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Post by Ace on Sept 7, 2023 10:15:23 GMT
Last loanbook update was 25th Jan, so next one is presumably due on 25th April. Has anyone heard anything on this since January? There was a paragraph on it in the last quarterly update on 10th July 2023. The only info was that they had a meeting arranged for the next day, where they would seek an update. Funny how there is always something about to happen immediately following an update, and that we hear nothing about what happened.
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jonno
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nil satis nisi optimum
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Post by jonno on Sept 18, 2023 7:37:12 GMT
Filed at Companies House on 15 Sep 2023 is notification that the vote to remove the joint liquidators went through and those two Quantama people have been removed. Next up there should be a notification that DBW's chosen liquidator is appointed. Then, maybe, a note to lenders from DBW about it. Yeah, then followed by absolutely f*ck all 
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agent69
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Post by agent69 on Sept 18, 2023 22:01:29 GMT
I've posted more details on the dd thread (and was moved so far as to use bold text in a part of that post), but as I have read a couple more liqudator's updates on the insolvencies of the various companies involved in this, I have come across the court case that seems to have concluded that Ablrate's security "did not secure any indebtedness owed to Ablrate by the Companies" There is a very obvious question that immediately arises from that and I haven't seen it addressed anywhere else on this board so far - please point me to it if I have missed it. If Ablrate's security " did not secure any indebtedness owed to Ablrate by the Companies" on these loans, is ablrate certain that its security on other loans is effective and does secure the indebtedness of the borrower? I don't supose anyone has ever seen the defective documentation?
Do we know who drew up the security paperwork, and why it was not fit for purpose?
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r1200gs
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Post by r1200gs on Sept 19, 2023 8:31:30 GMT
Well, that would certainly explain why two aircraft have sat unsold since 2019. Whatever, I can't be bothered to research it. It doesn't take all these years to sell security although it might when I have never found them for sale anywhere. I wonder why?
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agent69
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Post by agent69 on Sept 19, 2023 9:42:47 GMT
I don't supose anyone has ever seen the defective documentation?
Do we know who drew up the security paperwork, and why it was not fit for purpose? Only the charge documents are available from the charges register pages for the companies involved on the companies house website. The Liquidator's solicitor identified “various deficiencies/inaccuracies in the Ablrate security and these issues were explained to Ablrate” When the matter reached Court, it seems that the Judge agreed. If the Liquidator's solicitor’s review is available publicly, I haven’t seen it. Nor the directions from the court. DBW has both. The review since 26 May 2022 or earlier and the directions from the Court since 8 Dec 2022. DBW must know if the “various deficiencies/inaccuracies in the Ablrate security” were specific to the charges registered over these four companies, or if those “various deficiencies/inaccuracies in the Ablrate security” apply to any other Ablrate securities. It would be somewhat troubling if other Ablrate securities “did not secure any indebtedness owed to Ablrate” So if your P2P investment is secured against an asset, it is possible that either:
- the asset doesn't actually exist, or
- the asset is only worth a tiny fraction of its stated value, or
- the asset exists, it is worth the stated value, but you can't sell it because the legal paperwoork is defective.
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Post by muttley916 on Sept 20, 2023 12:14:40 GMT
You would think that investors would be informed, unless someone is hiding the fact that our security is non existent.
Guess we all just have to put up with silence and be happy with the scraps of information and no money returned.
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ozboy
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Post by ozboy on Sept 20, 2023 12:18:40 GMT
You would think that investors would be informed, unless someone is hiding the fact that our security is non existent. Guess we all just have to put up with silence and be happy with the scraps of information and no money returned. Oh, I'm very sure that the FCA will be all over this and do what they're exceptionally good at. Nothing.
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Post by feedme on Nov 10, 2023 2:50:42 GMT
I think it's about time for a quarterly update, is it not?
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jonno
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Post by jonno on Nov 10, 2023 9:57:26 GMT
I think it's about time for a quarterly update, is it not? Absolutely!!...........I can't wait to hear absolute shite all 
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Post by feedme on Dec 6, 2023 13:59:13 GMT
A month ago we were told that "I am pushing for an update to be approved next week."
A month later, I am questioning the reason for the delay in such "approval".
Looking forward to an update at the soonest convenience, since this quarter is turning into a half. 
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observer
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Post by observer on Oct 1, 2024 14:34:42 GMT
The Liquidators' statement of receipts and payments to 20 July 2024 has been published at Companies House (26 Sep 2024).
A link to it and my few comments from having a quick read through it are on the DD board
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