pi
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Post by pi on Jun 4, 2019 13:58:30 GMT
Lendy website says "Apologies that the monthly platform updates have yet to be issued. These will be published by Friday 7th June 2019." Is that an automated message? What are they going to tell us on 7th June? I thought no more monthly BS anymore? It's my understanding that Lendy's staff that were working prior to Lendy going into administration are still working for the administrators and running the website and will continue doing monthly updates. I guess copy paste is not so difficult after all. They can continue doing that.
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Mucho P2P
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Post by Mucho P2P on Jun 4, 2019 14:12:24 GMT
Would administrators go behind valuers, surveyors, IMS etc for their incorrect valuations, reporting etc? I don't think so. So they go unpunished? Whilst it is not their job to do so, it is their job to investigate if any crimes might have been committed (which result in less capital going to the creditors and the lenders) and to report to the Police or SFO any suspicions they might have. Therefore if RSM suspect collusion between Lendy and a valuer (I am not implying there is any), then RSM would pursue the matter. Hence the importance to respond to RSM last email asking for any info that might be of assistance to them. However small a piece of a puzzle (info) anyone has, please forward to RSM as it has the chance of helping them put together the larger picture of what really happened and possibly where the multi-millions of interest that Lendy charged went to.
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rocky1
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Post by rocky1 on Jun 4, 2019 14:37:05 GMT
professional negligence is a term that comes to mind.
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Post by qdot on Jun 4, 2019 15:22:39 GMT
Lendy website says "Apologies that the monthly platform updates have yet to be issued. These will be published by Friday 7th June 2019." Is that an automated message? What are they going to tell us on 7th June? I thought no more monthly BS anymore? It's my understanding that Lendy's staff that were working prior to Lendy going into administration are still working for the administrators and running the website and will continue doing monthly updates. Can you let us know how you know this? If true, this seems like quite positive news, right?
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Post by meyerlansky on Jun 4, 2019 16:02:14 GMT
I just wish the monthly update will be true and correct.
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Post by picanto on Jun 4, 2019 16:17:05 GMT
It's my understanding that Lendy's staff that were working prior to Lendy going into administration are still working for the administrators and running the website and will continue doing monthly updates. Can you let us know how you know this? If true, this seems like quite positive news, right? Point 10 says "Some of the Company’s [Lendy] staff continue to be employed by the Companies and are under the control of and assisting the Administrators" With the announcement today that the updates will be released by Friday 7th June, I'm assuming that Lendy's staff are still running the website and keeping us up to date with loan progress.
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zlb
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Post by zlb on Jun 4, 2019 16:20:45 GMT
well done. and about an hour ago today. So could they be editing or deleting previous posts?
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mary
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Post by mary on Jun 4, 2019 19:57:02 GMT
well done. and about an hour ago today. So could they be editing or deleting previous posts? Of course that’s possible. Likely under the previous management. But, assuming the previous Directors did not actually do any of the “work”, then the employee(s) who did, and should still be in control of the online presence, now work for the Administrators and are therefore unlikely to be operating in an underhand manner.
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registerme
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Post by registerme on Jun 4, 2019 20:16:23 GMT
Even if they were ProBoards would have backups.
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Post by ss5678 on Jun 6, 2019 9:18:21 GMT
"The administrators have set up a dedicated email address and phone number for creditors to contact the administration team.
The address is lendy.restructuring@rsmuk.com and the phone number is 020 3858 9653."
I called the phone number above and it went to a third-party answering service. The answer I got is "check the website for info"...speechless...
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bg
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Post by bg on Jun 6, 2019 9:29:38 GMT
"The administrators have set up a dedicated email address and phone number for creditors to contact the administration team. The address is lendy.restructuring@rsmuk.com and the phone number is 020 3858 9653." I called the phone number above and it went to a third-party answering service. The answer I got is "check the website for info"...speechless... Yeah but Lendy have 20k+ investors. I imagine the majority of them would probably want to ring up and ask a load of questions. Creditors will end up paying all the administators fees which will be expensive andsubstantial. For them to set up a team to just answer phone calls to answer investor queries, many of which will be the same questions which they cant yet answer is not an efficient use of 'our' resources/funds. Better they just get on with what they are doing and put out a substantial update that hopefully answers most of the questions as soon as they can.
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sl75
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Post by sl75 on Jun 6, 2019 10:12:37 GMT
Yeah but Lendy have 20k+ investors. I imagine the majority of them would probably want to ring up and ask a load of questions. Very doubtful about "the majority", but certainly a very significant number of them.
As I understand it, the team answering the phones need to tolerate a large number of "I don't understand what's happening"-type calls to which the only reasonable answer at this point is "check the website for updates", in order to allow through the handful of calls which either provide information the administrators need to know, or ask questions the administrators hadn't considered yet.
I've finally remembered to forward my most pressing questions to the team (by email, and framed in a manner that doesn't expect an immediate response, so they can quickly dispose of it if it's just duplicating stuff they've already been asked a dozen times over). I'll leave it until they've provided a bit more general info before even considering pressing further for answers.
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cwah
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Post by cwah on Jun 6, 2019 11:35:07 GMT
Yeah but Lendy have 20k+ investors. I imagine the majority of them would probably want to ring up and ask a load of questions. Very doubtful about "the majority", but certainly a very significant number of them.
As I understand it, the team answering the phones need to tolerate a large number of "I don't understand what's happening"-type calls to which the only reasonable answer at this point is "check the website for updates", in order to allow through the handful of calls which either provide information the administrators need to know, or ask questions the administrators hadn't considered yet.
I've finally remembered to forward my most pressing questions to the team (by email, and framed in a manner that doesn't expect an immediate response, so they can quickly dispose of it if it's just duplicating stuff they've already been asked a dozen times over). I'll leave it until they've provided a bit more general info before even considering pressing further for answers.
Are the guys answering the phone call also charging £400/h? Would be outrageous
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registerme
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Post by registerme on Jun 6, 2019 11:39:25 GMT
Are the guys answering the phone call also charging £400/h? Would be outrageous Probably not, that's why they're answering the phones.
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cwah
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Post by cwah on Jun 6, 2019 11:49:55 GMT
Are the guys answering the phone call also charging £400/h? Would be outrageous Probably not, that's why they're answering the phones. I had a look at collateral report, there is a line called "Creditor & Investor Claims and Queries". They used mainly Executive staff and the average is £230/h. Good thing is that they only spent 30h or so on it.
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