sl75
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Post by sl75 on Jun 11, 2019 11:50:17 GMT
Haven't got any longer or informative. In summary, all legal claims under review, anything in default with an offer has been accepted & proceeding, anything in refinance proceeding, anything not in default & not in refinance has had a cheeky offer from the borrower which has been rejected and DFL032 has had an extension. Overall summary - keep waiting ... also a partial repayment of PBL163 to add to the pile of monies awaiting distribution (which as far as I know so far comprises DFL012, PBL056, PBL177, PBL178, together with any remaining loans that still had interest held on account). There may also be others with current or recent repayment that had no "fanfare" or announcement (it was often the case in the past that the first we'd hear of a repayment was the money hitting out accounts).
When all the monies held on account are finally released, I'd guess it'll be Lendy's biggest "pay day" ever, but with nothing to re-invest in.
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Mousey
Member of DD Central
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Post by Mousey on Jun 11, 2019 12:09:59 GMT
DFL031: "and confirmed there ability to refinance " It's spelt THEIR!!
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star dust
Member of DD Central
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Post by star dust on Jun 11, 2019 13:12:36 GMT
I’ve just posted the full Lendy (In Administration) June 11th Loan Book Updates in DDC for those with access. I have to admit to being somewhat disappointed at a skim read, much of it was still under review and although I am not in any of them, it seems unlikely that any new information has been added to the private portals either apart from possibly for DFL012. I noted yet more below loan offers from existing borrowers, and a sense that the Administrators just want to get on with things as they have accepted some pre-existing offers.
But then, they haven’t been in Administration for very long, and the level of communication with investors is streets ahead of that endured by Collateral investors. I’ve got massively more of my hard earned buried in the Collateral debacle than I have in Lendy, and I know which set of Administrators seems preferable right now. So, encouraging beginnings on the communication front, and I hope it continues.
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pi
Member of DD Central
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Post by pi on Jun 11, 2019 14:04:05 GMT
Aa I have already said previously the borrowers have won. Even if they have capability of paying up the whole amount they won't. I hope administrators use their power to go after PGs etc.
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Post by mot on Jun 11, 2019 14:49:53 GMT
I’ve just posted the full Lendy (In Administration) June 11 th Loan Book Updates in DDC for those with access. I have to admit to being somewhat disappointed at a skim read, much of it was still under review and although I am not in any of them, it seems unlikely that any new information has been added to the private portals either apart from possibly for DFL012. I noted yet more below loan offers from existing borrowers, and a sense that the Administrators just want to get on with things as they have accepted some pre-existing offers. But then, they haven’t been in Administration for very long, and the level of communication with investors is streets ahead of that endured by Collateral investors. I’ve got massively more of my hard earned buried in the Collateral debacle than I have in Lendy, and I know which set of Administrators seems preferable right now. So, encouraging beginnings on the communication front, and I hope it continues. Can’t see any update on DFL012 private portal as alluded to .... tapped on usual “private portal” button.... exactly same entry as before??? Can anyone advise ?
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withnell
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Post by withnell on Jun 11, 2019 15:43:10 GMT
I’ve just posted the full Lendy (In Administration) June 11 th Loan Book Updates in DDC for those with access. I have to admit to being somewhat disappointed at a skim read, much of it was still under review and although I am not in any of them, it seems unlikely that any new information has been added to the private portals either apart from possibly for DFL012. I noted yet more below loan offers from existing borrowers, and a sense that the Administrators just want to get on with things as they have accepted some pre-existing offers. But then, they haven’t been in Administration for very long, and the level of communication with investors is streets ahead of that endured by Collateral investors. I’ve got massively more of my hard earned buried in the Collateral debacle than I have in Lendy, and I know which set of Administrators seems preferable right now. So, encouraging beginnings on the communication front, and I hope it continues. Can’t see any update on DFL012 private portal as alluded to .... tapped on usual “private portal” button.... exactly same entry as before??? Can anyone advise ? Same here - looks like the private portal update has yet to be loaded
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Post by rooster on Jun 11, 2019 21:46:13 GMT
Can’t see any update on DFL012 private portal as alluded to .... tapped on usual “private portal” button.... exactly same entry as before??? Can anyone advise ? Same here - looks like the private portal update has yet to be loaded That's generous. To me, it just looks like they lied (again)!
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Post by rooster on Jun 11, 2019 21:47:58 GMT
Can’t see any update on DFL012 private portal as alluded to .... tapped on usual “private portal” button.... exactly same entry as before??? Can anyone advise ? Same here - looks like the private portal update has yet to be loaded No, they used the past tense: " have been added" so yet again, they just lied!
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Post by rooster on Jun 11, 2019 21:59:40 GMT
Haven't got any longer or informative. In summary, all legal claims under review, anything in default with an offer has been accepted & proceeding, anything in refinance proceeding, anything not in default & not in refinance has had a cheeky offer from the borrower which has been rejected and DFL032 has had an extension. Overall summary - keep waiting " anything in default with an offer has been accepted".... that's worrying and breaks terms. If offers are unrealistically low, the "outsourcing company that has stepped in to run the business as if they were fully operating" should be taking the security and selling it to recover the >LTV. Additionally, if the property doesn't achieve LTV, they should then be seeking damages from the RICS valuers. 1) Anybody know why they've deviated from either the first or definitely the second terms of Lendy's stated insolvency strategy please? 2) Anybody know why the FCA aren't holding the administrators to account for 1) please?
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sydb
Member of DD Central
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Post by sydb on Jun 11, 2019 22:44:16 GMT
Same here - looks like the private portal update has yet to be loaded No, they used the past tense: " have been added" so yet again, they just lied! There was no lie. A portal update was given mid-late May, after the previous non-portal 'recent update', which is what the June non-portal 'recent update' refers to. Come on, keep up. I am sure we will be updated as to the update of the update shortly.
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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 12, 2019 0:01:56 GMT
Haven't got any longer or informative. In summary, all legal claims under review, anything in default with an offer has been accepted & proceeding, anything in refinance proceeding, anything not in default & not in refinance has had a cheeky offer from the borrower which has been rejected and DFL032 has had an extension. Overall summary - keep waiting " anything in default with an offer has been accepted".... that's worrying and breaks terms. If offers are unrealistically low, the "outsourcing company that has stepped in to run the business as if they were fully operating" should be taking the security and selling it to recover the >LTV. Additionally, if the property doesn't achieve LTV, they should then be seeking damages from the RICS valuers. 1) Anybody know why they've deviated from either the first or definitely the second terms of Lendy's stated insolvency strategy please? 2) Anybody know why the FCA aren't holding the administrators to account for 1) please? Sorry you're talking rubbish. The loan is already in the hands of receivers. The reason the offer has been accepted is in the update ie its the only offer, therefore the IP, who is required to seek market price, has fulfilled their obligations. There may well be a claim raised against the valuers. Lendy is in administration so t&C's & the insolvency strategy are moot points, the Lendy IP strategy is to secure the best outcome for creditors & unfortunately this is it
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gc
Member of DD Central
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Post by gc on Jun 12, 2019 5:00:16 GMT
I’ve just posted the full Lendy (In Administration) June 11 th Loan Book Updates in DDC for those with access. I have to admit to being somewhat disappointed at a skim read, much of it was still under review and although I am not in any of them, it seems unlikely that any new information has been added to the private portals either apart from possibly for DFL012. I noted yet more below loan offers from existing borrowers, and a sense that the Administrators just want to get on with things as they have accepted some pre-existing offers. But then, they haven’t been in Administration for very long, and the level of communication with investors is streets ahead of that endured by Collateral investors. I’ve got massively more of my hard earned buried in the Collateral debacle than I have in Lendy, and I know which set of Administrators seems preferable right now. So, encouraging beginnings on the communication front, and I hope it continues. It may have something to do with Lendy not wiping (at least I don't think they did) their servers database loan list and clients as this seemed to be a major sticking point with Collateral. That said, lets wait and see how this one plays out..
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TenKay
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Post by TenKay on Jun 12, 2019 18:09:59 GMT
is it just me or is the latest batch of updates a bit more informative than the usual cut and paste
it seems they have actually gone to the trouble of putting something relevant in each update
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Post by mot on Jun 12, 2019 18:33:43 GMT
Still no update on H....Q...portal !!!! Must be a reason.... probably not a good one !!!!!!
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Mucho P2P
Member of DD Central
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Post by Mucho P2P on Jun 12, 2019 18:49:28 GMT
Still no update on H....Q...portal !!!! Must be a reason.... probably not a good one !!!!!! Who is benefiting from the interest on that amount?
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