sl75
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Post by sl75 on Oct 23, 2019 11:45:04 GMT
My (optimistic) bet is that this month's updates will be deferred until they've run the process to distribute to lender accounts all the various credits that have been held back - that way loans which have been fully repaid won't require yet another update saying that they've already got the money but can't distribute it yet.
The alternative (pessimistic) bet is that the monthly updates will be accompanied by some other excuse about why they can't release monies to lender accounts yet.
As such, I hope not to see the monthly updates just yet!
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Post by billy169 on Oct 29, 2019 17:15:55 GMT
Updates on lendy now
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Post by picanto on Oct 29, 2019 17:55:09 GMT
I've only looked at the updates on the loans which I'm invested in and they are the most pointless set of updates I've read in Lendy's history, and that's no mean feat.
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star dust
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Post by star dust on Oct 29, 2019 23:11:21 GMT
I've just posted the Lendy In Administration 29 th October Loan Updates in full in DDC for the record and continuity. Yes, what a load of Shoosmiths'  |
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averageguy
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Post by averageguy on Nov 29, 2019 13:04:59 GMT
today?
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KoR_Wraith
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Post by KoR_Wraith on Nov 29, 2019 17:14:03 GMT
Update posted on Lendy website, more detailed than usual.
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Post by gramsky on Nov 29, 2019 17:37:17 GMT
Update posted on Lendy website, more detailed than usual. I can't see anything later than 29/10/2019
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IFISAcava
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Post by IFISAcava on Nov 29, 2019 17:42:06 GMT
Update posted on Lendy website, more detailed than usual. Is there anywhere a simple list of which loans are model 1 and which model 2? Or does it depend on when you bought the loan part?
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rrrupert
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Post by rrrupert on Nov 29, 2019 17:48:56 GMT
"The Administrators are unable to provide any material update on other loans until such time as a property sale or refinance has concluded so as not to prejudice the outcome. Accordingly, platform updates will no longer be posted monthly, but only on individual loans once the sale or refinance is concluded." This from todays update at lendy.co.uk/. Dont login just look for the file dated 29/11. |
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IFISAcava
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Post by IFISAcava on Nov 29, 2019 18:01:39 GMT
Is there anywhere a simple list of which loans are model 1 and which model 2? Or does it depend on when you bought the loan part? Model 1 loans are DFL001, PBL027, PBL031 & PBL056. Thanks! The only two I have left (other than a couple of partially repaid that are basically written off now) are DFL001 and DFL002. If those two are settled together, and one is model 1 and one model 2, it will be an interesting calculation and comparison.
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jhamster
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Post by jhamster on Nov 29, 2019 18:29:26 GMT
Interesting that our money is still being used to pay Lendy dividends.
Suggest everyone send a proof of debt to RSM ASAP.
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rocky1
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Post by rocky1 on Nov 29, 2019 18:38:25 GMT
how do we issue a proof of debt and who do we send it to.is it to claim for losses as each loan is dealt with or for the total amount of investment at moment.could anybody who knows about this sort of stuff post a template of how we go about sending a proof of debt and what to put in it thanks.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Nov 29, 2019 18:41:54 GMT
Would it mean there is more chance of a higher return on Mode 1 as there could be sufficient money in the company accounts eventually as they get a good return from EVERY loan as fees and interest. ?
Mode 2 loans will only get their contractual returns after fees. Mode one would have claim for their total amount due to be paid from assets.
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blueninja
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Post by blueninja on Nov 29, 2019 18:49:03 GMT
Is there anywhere a simple list of which loans are model 1 and which model 2? Or does it depend on when you bought the loan part? Model 1 loans are DFL001, PBL027, PBL031 & PBL056. I thought DFL002 was model 1 loan. DFL001 and DFL002 are both to the same borrower and taken out about the same time if my memory servers me correctly.
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nick
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Post by nick on Nov 29, 2019 18:55:21 GMT
Would it mean there is more chance of a higher return on Mode 1 as there could be sufficient money in the company accounts eventually as they get a good return from EVERY loan as fees and interest. ?
Mode 2 loans will only get their contractual returns after fees. Mode one would have claim for their total amount due to be paid from assets.
I think Lendy's creditor's, including model 1 loans, will be pretty much wiped out after administrator fees. The administrators themselves seem to allude to this as they are relying on the 3%pa fee on recoveries to help fund their fees with anything in excess of their fees being redistributed back to model 2 investors. The priority of Lendy's late payment interest ahead of investors is a real shocker. It leads to a perverse incentive for the administrators to string out recovery for the benefit of Lendy's creditors (whose interests are their primary concern) at the detriment of model 2 investors - a massive conflict of interest.....
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