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Post by ss5678 on Jun 3, 2019 17:41:45 GMT
Is it possible to post the Telegraph on this thread to share?
"Administrators of Lendy, the collapsed peer-to-peer lender, are to seek legal advice over the status of its retail investors that could determine how much of their money will be returned....". This statement is a bit unfair because investors should be legally entitled to full return of their money/capital.
Can lender community with good knowledge/access in Law/Legal Advice also try to explore our legal position in the meantime? Please do not share this as I believe this is crucial to keep it under the radar at the moment until such time administrators have made their move.
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Post by dan1 on Jun 3, 2019 17:53:22 GMT
Is it possible to post the Telegraph on this thread to share?
"Administrators of Lendy, the collapsed peer-to-peer lender, are to seek legal advice over the status of its retail investors that could determine how much of their money will be returned....". This statement is a bit unfair because investors should be legally entitled to full return of their money/capital. Can lender community with good knowledge/access in Law/Legal Advice also try to explore our legal position in the meantime? Please do not share this as I believe this is crucial to keep it under the radar at the moment until such time administrators have made their move. I'm afraid not, because of copyright. You'd need the publishers permission or, alternatively, The Telegraph could publish the article here should they be so inclined (unlikely I'd of though given they want people to visit their own site).
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registerme
Member of DD Central
Posts: 6,624 
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Post by registerme on Jun 3, 2019 17:58:56 GMT
Please do not share this as I believe this is crucial to keep it under the radar at the moment until such time administrators have made their move. Regardless of your opinion of the FCA, administrators, or insolvency practitioners, I'd suggest that treating them as "the enemy" may be counter-productive.
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Monetus
Member of DD Central
Posts: 1,179
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Post by Monetus on Jun 3, 2019 18:22:58 GMT
Please do not share this as I believe this is crucial to keep it under the radar at the moment until such time administrators have made their move. Regardless of your opinion of the FCA, administrators, or insolvency practitioners, I'd suggest that treating them as "the enemy" may be counter-productive. This 100%.
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Post by ss5678 on Jun 3, 2019 18:31:49 GMT
Please do not share this as I believe this is crucial to keep it under the radar at the moment until such time administrators have made their move. Regardless of your opinion of the FCA, administrators, or insolvency practitioners, I'd suggest that treating them as "the enemy" may be counter-productive. No, I don't treat anyone as "enemy". I just hope that someone knowledgeable in law/legal advice can help to protect us the lenders.
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iRobot
Member of DD Central
Posts: 1,680
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Post by iRobot on Jun 3, 2019 20:50:27 GMT
Is it possible to post the Telegraph on this thread to share? "Administrators of Lendy, the collapsed peer-to-peer lender, are to seek legal advice over the status of its retail investors that could determine how much of their money will be returned....". This statement is a bit unfair because investors should be legally entitled to full return of their money/capital.Can lender community with good knowledge/access in Law/Legal Advice also try to explore our legal position in the meantime? Please do not share this as I believe this is crucial to keep it under the radar at the moment until such time administrators have made their move. If you truly believe that to be the case, can you state the basis for it being so? If it's just wishful thinking, then you may wish to prepare for some bad news ... 
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
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Post by ilmoro on Jun 3, 2019 22:38:48 GMT
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cwah
Member of DD Central
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Post by cwah on Jun 3, 2019 23:17:39 GMT
So we are the angry p2p investors... š¤£š¤£
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Monetus
Member of DD Central
Posts: 1,179
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Post by Monetus on Jun 4, 2019 6:43:55 GMT
So we are the angry p2p investors... š¤£š¤£ Yes the headline is āattention-grabbingā. No specific action was discussed and I was totally calm and relaxed when I spoke with them.š¤£š¤£ Lots of new members though so word is getting out and hopefully plenty more coverage coming this week 
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adrianc
Member of DD Central
Posts: 10,024
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Post by adrianc on Jun 4, 2019 7:25:50 GMT
Regardless of your opinion of the FCA, administrators, or insolvency practitioners, I'd suggest that treating them as "the enemy" may be counter-productive. No, I don't treat anyone as "enemy". I just hope that someone knowledgeable in law/legal advice can help to protect us the lenders. That's what the FCA are doing.
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Post by bata on Jun 4, 2019 9:00:12 GMT
Hello everyone. First post. Would support LendyActionGroup but not a fan of Facebook.
Long time investor with Saving Stream/Lendy. Wondering how much of my Ā£188,000.00 and my wife's Ā£88,000.00 will be recovered.
Still have about Ā£30,000,00 in "good" loans. Wondering about May's interest payment.
Looking forward to Administrator's next critical update.
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cwah
Member of DD Central
Posts: 949
Likes: 468
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Post by cwah on Jun 4, 2019 9:10:53 GMT
Hello everyone. First post. Would support LendyActionGroup but not a fan of Facebook. Long time investor with Saving Stream/Lendy. Wondering how much of my Ā£188,000.00 and my wife's Ā£88,000.00 will be recovered. Still have about Ā£30,000,00 in "good" loans. Wondering about May's interest payment. Looking forward to Administrator's next critical update. You got Ā£276k stuck into it? I hope it's not your life saving š±š±š±
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Post by ss5678 on Jun 4, 2019 9:19:55 GMT
Is it possible to post the Telegraph on this thread to share? "Administrators of Lendy, the collapsed peer-to-peer lender, are to seek legal advice over the status of its retail investors that could determine how much of their money will be returned....". This statement is a bit unfair because investors should be legally entitled to full return of their money/capital.Can lender community with good knowledge/access in Law/Legal Advice also try to explore our legal position in the meantime? Please do not share this as I believe this is crucial to keep it under the radar at the moment until such time administrators have made their move. If you truly believe that to be the case, can you state the basis for it being so? If it's just wishful thinking, then you may wish to prepare for some bad news ... Well, it depends on how bad it is...I hope for the fair outcome where I prepared to lose all my interest money but my capital should be fully returned. My basis is that Lendy is a fully regulated p2p platform and there is FCA-approved wind-down and mechanism to protect investors/lenders so I expect administrators to not categorise lenders as creditors.
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Post by bata on Jun 4, 2019 9:35:18 GMT
Thank you for your concern but yes like many other Lendy investors difficult to get funds out when secondary market not working. Did successfully reduce investment by 20%. However, our funds are only a small part of our "life savings". It would be great to recover some capital but not the end of the World if the most pessimistic forecasts come true. Personally I remain optimistic.
It comes hard to learn two lessons with hindsight. First, trusting people who can't be trusted but then Karma will sort this out for the people who've let us and themselves down. Second, truly realizing with horror the extent of one's own greed. Greed is not good! It clouds judgement to say the least.
We hope and trust that the Administrator will act in good faith. Their next update will show their Proposals for an orderly wind down.
When will the Lendy Action Group web site be up and running?
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Monetus
Member of DD Central
Posts: 1,179
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Post by Monetus on Jun 4, 2019 9:44:44 GMT
When will the Lendy Action Group web site be up and running? Welcome to the forum and sorry you have joined us under these circumstances. It will be launched in the coming weeks but hopefully ASAP. If you leave your email address on the site you will receive notification when it's ready. It's a top priority right now as we know many people aren't a fan of Facebook. The FB group was always intended for more public discussion and because we needed to have something live due quickly due to media interest.
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