averageguy
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Post by averageguy on Jul 3, 2019 11:11:41 GMT
An update on what’s happening with the HT money would be nice ..surely they should have sorted their reconciliation by now...just pay us what’s due
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Post by mot on Jul 3, 2019 15:17:26 GMT
Totally agree but I can’t see “us” getting an update whilst FCA are being brought up to speed (possibly before US) and then a final update on or around the 19th that may have had to have been amended following submission to FCA. Makes more sense for administration to talk to FCA, get a thumbs up then give us lot the abundant good news 😉
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Post by cyrilmadrid on Jul 10, 2019 21:27:38 GMT
Latest update does not say much !
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averageguy
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Post by averageguy on Jul 17, 2019 9:38:05 GMT
Hopefully a platform update later this week
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averageguy
Member of DD Central
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Post by averageguy on Jul 19, 2019 10:21:01 GMT
Hopefully a platform update later this week I expect something today
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mw
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Post by mw on Jul 24, 2019 15:58:00 GMT
Updates are on the website now.
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Post by mot on Jul 24, 2019 16:55:25 GMT
Usual placation
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mary
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Post by mary on Jul 24, 2019 17:29:14 GMT
Not so for me. 3 of 6 remaining loans have progress that will hopefully lead to some recovery in a couple of months. Another is finally having enforcement action taken, another is already sold. Plus there is the positive news that they are taking proposals on how to chase down all the loans that require legal action after sale to recoup, maybe, some of the shortfall. So that’s a full house of progress, for me. Compared to Collateral, this is immense after less than 10 weeks.
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djay
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Post by djay on Jul 24, 2019 17:33:13 GMT
On many loans it is the same old usual, however there are some gems amongst it, for example, I am encouraged to see specific areas where the administrators are engaging new legal teams to commence action over third parties. I am also encouraged that for each they have approached three legal firms to offer their view of best strategy, hopefully this will improve possible results. I just hope this initial "tendering" strategy is on a no cost basis.
This suggests they may be quite robust in taking action where possible.
Edit, crossed with Marys post
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Post by mot on Jul 24, 2019 21:28:25 GMT
Not so for me. 3 of 6 remaining loans have progress that will hopefully lead to some recovery in a couple of months. Another is finally having enforcement action taken, another is already sold. Plus there is the positive news that they are taking proposals on how to chase down all the loans that require legal action after sale to recoup, maybe, some of the shortfall. So that’s a full house of progress, for me. Compared to Collateral, this is immense after less than 10 weeks. On many loans it is the same old usual, however there are some gems amongst it, for example, I am encouraged to see specific areas where the administrators are engaging new legal teams to commence action over third parties. I am also encouraged that for each they have approached three legal firms to offer their view of best strategy, hopefully this will improve possible results. I just hope this initial "tendering" strategy is on a no cost basis. This suggests they may be quite robust in taking action where possible. Edit, crossed with Marys post
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star dust
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Post by star dust on Jul 24, 2019 22:42:10 GMT
I've just posted the 24 th July loan updates for Lendy's Loan Book in full in DDC. Once again I got the overall feeling that the Administrators are getting to grips with things and are getting on with it. sussexlender must be thrilled that finally something is happening on PBL103  . Hoping this won't prove unfounded, but I'm personally also more inclined to believe them too. |
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sussexlender
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Cheat seeking missile
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Post by sussexlender on Jul 25, 2019 18:03:01 GMT
Yes, pleased that we have an update but it does not amount to any real progress in taking back the site or putting it on the market.
I fear they will not find this Borrower easy to locate as he and his "highly experienced" partners will no doubt disappear from their "container" office (probably aboard a yacht sponsored by Lendy) having obtained far more cash from investors than this waste ground site was ever worth.
I predict the borrower will simply hide behind the limited liability status of his suspect company.
None of the other massive projects they boasted about on their out of date web page appear to have even started.
The receiver must now go after Lendy and the surveyors and the solicitors who put this questionable borrower forward as a trustworthy individual.
Lendy and / or their paid professional advisors clearly failed to carry out sufficient due diligence on this shabby lot.
They should put the site up for sale immediately.
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quidco
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Post by quidco on Jul 25, 2019 19:17:01 GMT
So when it says "funding is in place to repay the loan" in healthier times that would mean lenders got all their money back but now are the administrators going to hang on to the money and/or take some part of it?
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averageguy
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Post by averageguy on Aug 21, 2019 10:44:51 GMT
Hopefully this week
Edit
Draft with administrators for signing off
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sl75
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Post by sl75 on Aug 22, 2019 14:35:52 GMT
New set of updates has been posted today. Not read through them yet...
Edit: some of them seem to be rather inaccurate at time of writing - e.g. the updates for some of the loans indicate a further update has been posted to the private portal when in fact no such further update is yet present and visible to investors...
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. Hoping this won't prove unfounded, but I'm personally also more inclined to believe them too. 