Post by 09dolphin on Jun 11, 2019 22:25:41 GMT
Apologies to you all if there is a thread for this loan but I have entered the search details and nothing is coming up.
This is a loan which should have repaid on 23/12/16 and appears to have had receivers appointed in February 2019. Can anyone explain to a simple soul such as myself why it took FS well over 2 years after the loan ended for them to appoint receivers. I really would like to know - however based on the length of time the powerboat loan has been active I assume they may be taking what is very speedy action for them.
According to the update on 21/5/19 the receivers are only now collating a formal report and recommendations despite being appointed over 2 months previously. At the speed the receivers are working I would hope that there will be a formal report and recommendations made within about 6 months although 12 months may be more realistic. Am I being overly optimistic?
Based on peoples previous experience is it unrealistic to expect this loan to be settled within the next two years or am I again being hopelessly optimistic? I do recognise that as FS have a track record of having outrageous LTVs, or perhaps I should say a very optimistic LTV (which are rarely received in a fire sale) what percentage of my capital do people think I could receive when the asset is sold?
Any and all thoughts would be appreciated.
This is a loan which should have repaid on 23/12/16 and appears to have had receivers appointed in February 2019. Can anyone explain to a simple soul such as myself why it took FS well over 2 years after the loan ended for them to appoint receivers. I really would like to know - however based on the length of time the powerboat loan has been active I assume they may be taking what is very speedy action for them.
According to the update on 21/5/19 the receivers are only now collating a formal report and recommendations despite being appointed over 2 months previously. At the speed the receivers are working I would hope that there will be a formal report and recommendations made within about 6 months although 12 months may be more realistic. Am I being overly optimistic?
Based on peoples previous experience is it unrealistic to expect this loan to be settled within the next two years or am I again being hopelessly optimistic? I do recognise that as FS have a track record of having outrageous LTVs, or perhaps I should say a very optimistic LTV (which are rarely received in a fire sale) what percentage of my capital do people think I could receive when the asset is sold?
Any and all thoughts would be appreciated.
