Administration - State of Play & Significant Information (L)
May 21, 2020 15:57:26 GMT
paul123, boundah, and 1 more like this
Post by star dust on May 21, 2020 15:57:26 GMT
Latest missive from the Administrators sent from [email protected] as usual and timed into my inbox at 15:52 on the 21st May. On the Lendy website and quoted below for completeness.
Funnily enough I logged in yesterday (website still live) to see whether any of those loans had repaid (not that it will make much difference to me personally) now I know why not.
TO ALL KNOWN INVESTORS
21 May2020
Dear Sir/Madam
Lendy Ltd(“Lendy”), Lendy Provision Reserve Limited and Saving Stream Security Holding Limited –all in Administration (together “the Companies”)
Further to our prior communications I would like to update you on the progress of the Administration.
Please note, the Joint Administrators progress report for the period 24 November 2019 to 23 May 2020 will be issued on or before 19 June 2020. This will provide investors with a detailed update on the progress of the Administration in the period.
Interim distributions
As previously advised, the Joint Administrators anticipate processing interim distributions in respect of following loans, and in this order:-
1.DFL021;
2.PBL095;
3.PBL196 andPBL197; and
4.PBL137.
The Joint Administrators sought legal clarification on a certain point and delayed processing the interim distributions until this was resolved. This is now resolved, and the Joint Administrators will be begin processing the interim distributions in the coming weeks.
Please note, these are interim distributions and it is anticipated that there could be further distributions in respect of these loans.
Money Laundering Checks
The Lendy team will continue liaising with individuals who currently have not fulfilled the money laundering checks. Please assist the team as this will accelerate the process.
Regrettably these final checks are a manual exercise, hence it will take some time to complete these processes. To confirm, the email address that investors will receive an email from requesting further documentation from the Verification team is [email protected]
The Joint Administrators have agreed a full open extension in providing any outstanding KYC / AML certified copies of documents. This will eliminate the need to leave home and get documents certified until after the UK Governments Covid-19 restrictions have been lifted.
Any certified documentation received in the meantime at our offices, will be held securely and processed once the Government restrictions have been further reduced or removed. Scanned copies cannot be accepted.
Thank you for your cooperation in ensuring your details are up-to-date and we will be providing further updates on this revalidation exercise in the near future.
Yours faithfully
for and on behalf of
Lendy Ltd
Damian Webb
RSM Restructuring Advisory LLP Joint Administrator
21 May2020
Dear Sir/Madam
Lendy Ltd(“Lendy”), Lendy Provision Reserve Limited and Saving Stream Security Holding Limited –all in Administration (together “the Companies”)
Further to our prior communications I would like to update you on the progress of the Administration.
Please note, the Joint Administrators progress report for the period 24 November 2019 to 23 May 2020 will be issued on or before 19 June 2020. This will provide investors with a detailed update on the progress of the Administration in the period.
Interim distributions
As previously advised, the Joint Administrators anticipate processing interim distributions in respect of following loans, and in this order:-
1.DFL021;
2.PBL095;
3.PBL196 andPBL197; and
4.PBL137.
The Joint Administrators sought legal clarification on a certain point and delayed processing the interim distributions until this was resolved. This is now resolved, and the Joint Administrators will be begin processing the interim distributions in the coming weeks.
Please note, these are interim distributions and it is anticipated that there could be further distributions in respect of these loans.
Money Laundering Checks
The Lendy team will continue liaising with individuals who currently have not fulfilled the money laundering checks. Please assist the team as this will accelerate the process.
Regrettably these final checks are a manual exercise, hence it will take some time to complete these processes. To confirm, the email address that investors will receive an email from requesting further documentation from the Verification team is [email protected]
The Joint Administrators have agreed a full open extension in providing any outstanding KYC / AML certified copies of documents. This will eliminate the need to leave home and get documents certified until after the UK Governments Covid-19 restrictions have been lifted.
Any certified documentation received in the meantime at our offices, will be held securely and processed once the Government restrictions have been further reduced or removed. Scanned copies cannot be accepted.
Thank you for your cooperation in ensuring your details are up-to-date and we will be providing further updates on this revalidation exercise in the near future.
Yours faithfully
for and on behalf of
Lendy Ltd
Damian Webb
RSM Restructuring Advisory LLP Joint Administrator
, a communication from RSM received today, via Lendy Support as usual, timed into my inbox @ 16:24 on 26th January 2021. Also on the Lendy website, but repeated here for the record.
. Received via Lendy Support as usual, timed into my inbox @ 16:54 on 1st February 2021. Also on the Lendy website, but repeated here for the record.