markm
Posts: 45 
Likes: 33
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Post by markm on Jun 4, 2019 15:07:50 GMT
Thanks for setting up this group. I look forward to following up any actions / next steps that we can make as a collective
Mark
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Monetus
Member of DD Central
Posts: 1,179
Likes: 2,961
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Post by Monetus on Jun 5, 2019 15:41:07 GMT
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Post by GSV3MIaC on Jun 5, 2019 16:24:47 GMT
I guess you are not as anonymous as you used to be. 8>.
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Post by bracknellboy on Jun 5, 2019 16:25:23 GMT
now the bigger question. Why did I faff around following that link; find it needed login/registration; had registrationon failed as already existed; then realised I should try my Times+ login; but I only have the print subscription. And then think: why not pick up the freaking hard copy of the Times that is sitting on my desk ??
The modern world.
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Monetus
Member of DD Central
Posts: 1,179
Likes: 2,961
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Post by Monetus on Jun 5, 2019 16:27:09 GMT
I guess you are not as anonymous as you used to be. 8>. I'm pretty sure I've not been anonymous for a while have I with the whole Collateral thing? 
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Monetus
Member of DD Central
Posts: 1,179
Likes: 2,961
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Post by Monetus on Jun 5, 2019 16:27:41 GMT
now the bigger question. Why did I faff around following that link; find it needed login/registration; had registrationon failed as already existed; then realised I should try my Times+ login; but I only have the print subscription. And then think: why not pick up the freaking hard copy of the Times that is sitting on my desk ??
The modern world.
Haha indeed. We live in interesting times.
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TenKay
Member of DD Central
Posts: 144
Likes: 117
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Post by TenKay on Jun 7, 2019 14:11:00 GMT
now the bigger question. Why did I faff around following that link; find it needed login/registration; had registrationon failed as already existed; then realised I should try my Times+ login; but I only have the print subscription. And then think: why not pick up the freaking hard copy of the Times that is sitting on my desk ??
The modern world.
Haha indeed. We live in interesting times. great pun
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Monetus
Member of DD Central
Posts: 1,179
Likes: 2,961
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Post by Monetus on Jun 7, 2019 14:32:18 GMT
Haha indeed. We live in interesting times. great pun I know.
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Post by ss5678 on Jun 10, 2019 10:40:11 GMT
Hi LAG members,
I hope that we can coordinate on RSM fee to be absolutely not based on time-basis. It should be loan-book basis based recovery amount percentage.
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sl75
Posts: 2,092
Likes: 1,245
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Post by sl75 on Jun 10, 2019 12:59:11 GMT
Hi LAG members, I hope that we can coordinate on RSM fee to be absolutely not based on time-basis. It should be loan-book basis based recovery amount percentage. That may put the focus in the wrong place - if for a given case they estimate that for (say) 10 times as much work, they can recover double the amount for investors, they might not bother putting in the extra work if it's a %-based fee, when it's clearly in the interests of all parties for a time-based fee.
I think your comment and the thought process behind it may also be mixing different concepts - provision for funding the wind-down operation of the loan book should already have been properly funded under the regulations that apply to an authorised P2P firm, and this is entirely separate to the administration of and investigation into the past conduct of Lendy Ltd and its key staff.
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thedog
Member of DD Central
Posts: 105
Likes: 111
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Post by thedog on Jun 10, 2019 13:51:39 GMT
Hi LAG members, I hope that we can coordinate on RSM fee to be absolutely not based on time-basis. It should be loan-book basis based recovery amount percentage. That may put the focus in the wrong place - if for a given case they estimate that for (say) 10 times as much work, they can recover double the amount for investors, they might not bother putting in the extra work if it's a %-based fee, when it's clearly in the interests of all parties for a time-based fee.
I think your comment and the thought process behind it may also be mixing different concepts - provision for funding the wind-down operation of the loan book should already have been properly funded under the regulations that apply to an authorised P2P firm, and this is entirely separate to the administration of and investigation into the past conduct of Lendy Ltd and its key staff.
Picking up on the second point - absolutely correct. The Administrators legal duty is to the Creditors of Lendy. That's not us. We are customers. Not sure how / who funded Lendy itself but probably some bank money, some Private Equity invested as debt and I would guess perhaps the founders provided funds as loans not equity - but they, not us, are the folks the Administrators are acting for.
In practice it may be a little more blurred given the circumstances and if, for instance, we can show some kind of misbehaviour such that (part of) our losses can be claimed back from the estate of the company.
As an aside I've had this arguement with a couple of Platforms who happilly assured me that the Administrators would collect the loan book out if they failed. I didn;t invest with them.
First point second... The deal for the folks collecting the loans - the technical term usually used in loan structures is the "Back-Up Servicer" - should have been agreed as SL75 said, some time ago. I'm willing to bet it's imperfect. It's not impossible that this is also the Administrators with a different hat on though personally I'd be surprised.
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bramhall17
Member of DD Central
Posts: 88
Likes: 148
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Post by bramhall17 on Jun 17, 2019 11:40:14 GMT
On a more general point --- when is the LAG web-site going to be open to sign up? I don't have Facebook nor any inclination to get involved with it.This probably also applies to a significant number of Lendy investors.
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wuzimu
Member of DD Central
Posts: 236
Likes: 735
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Post by wuzimu on Jun 17, 2019 13:02:34 GMT
The LAG website will be available this week I believe.
We understand the limitations of FB, but have to make sure the website works how it is intended.
Nearly there!
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garfield
Member of DD Central
Posts: 490 
Likes: 268
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Post by garfield on Jun 23, 2019 21:35:51 GMT
The LAG website will be available this week I believe.
We understand the limitations of FB, but have to make sure the website works how it is intended.
Nearly there!
Hi, got the invite e-mail, but where do I place the answer to the "security question"? If you need a hint, it is asking for my first name twice...
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Post by Deleted on Jun 23, 2019 21:55:00 GMT
The LAG website will be available this week I believe.
We understand the limitations of FB, but have to make sure the website works how it is intended.
Nearly there!
Hi, got the invite e-mail, but where do I place the answer to the "security question"? If you need a hint, it is asking for my first name twice...
Was fine for me. I use Chrome. Try using a different browser and reporting to LAG if it worked.
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