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Post by p2plender on Sept 17, 2019 5:44:08 GMT
finishing the carcass left by Brook and co?
Apologies I've not signed to other sites etc too hear secret whispers etc. I've a 5 fig chunk left in Lendy, not enough to bother me into wasting time thinking about it, given the interest I managed to gain. Just wondering though is anything actually being/going to be recovered? Seems to me the administrators have gotten their feet nicely under the table and feasting on leftovers. Has anyone received any monies back yet? Thanks. (Sorry for appearing lazy).
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Post by brightspark on Sept 17, 2019 7:12:42 GMT
Nowt, zilch, zero, nothing, nowhere, kaput, blank, whiteout, blank. i.e. the Administrators are well.......Administrating. Come October you might hear something more substantive.
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bramhall17
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Post by bramhall17 on Sept 17, 2019 7:50:05 GMT
RSM are having to institute a further AML process that should complete in early October to comply with current regulations before they release funds on account. The first Creditor Committee meeting is due soon. Inevitably IP is front loaded in terms of assessing what they have and the implications that arise from that. Things should start to move during October.
Why not join the Lendy Action Group ? ---- if you have a " 5 fig chunk" surely you are not so rich that £10k >> is not important to you ?!
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n
Member of DD Central
Yet another Nick
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Post by n on Sept 17, 2019 8:57:50 GMT
RSM are having to institute a further AML process that should complete in early October to comply with current regulations before they release funds on account. The first Creditor Committee meeting is due soon. Inevitably IP is front loaded in terms of assessing what they have and the implications that arise from that. Things should start to move during October.
Why not join the Lendy Action Group ? ---- if you have a " 5 fig chunk" surely you are not so rich that £10k >> is not important to you ?!
My bold.
I have £x locked in, spread evenly over nearly all the loans, which I do not expect to recover at all. Back in the day, when all was sweetness and light my peak investment was £800x. The total interest I have received is £105x with an XIRR of 12%. I am more than happy to lose £x (which in my case equates to about 2 weeks groceries).
Just a question of scale.
I imagine there must be quite a few others who managed to more or less escape in time. 
Sadly I didn't manage the same trick with Col. 
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star dust
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Post by star dust on Sept 17, 2019 9:28:05 GMT
The first Creditors Committee meeting is tomorrow. I hope we will hear something substantive a day or two after that. Finger, toes, ears, eyes crossed. Perhaps you'd like to keep us posted I've no idea what's going on apart from updates from RSM. Fake Facebook accounts really don't do it for me and shouldn't be necessary. I was just about to post to enquire whether there was one or if it had been and gone as I remembered September from somewhere, I hope RSM will publish the minutes of the meeting but no doubt this might be weeks/months away if at all. It's such a pity non-sensitive information isn't shared publicly for all investors.
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Godanubis
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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 Sept 17, 2019 10:07:25 GMT
RSM are having to institute a further AML process that should complete in early October to comply with current regulations before they release funds on account. The first Creditor Committee meeting is due soon. Inevitably IP is front loaded in terms of assessing what they have and the implications that arise from that. Things should start to move during October.
Why not join the Lendy Action Group ? ---- if you have a " 5 fig chunk" surely you are not so rich that £10k >> is not important to you ?!
I’ve more than ten times that but there is not a lot you can do. Better to forget it and get surprise when you get something back. You should never worry. As you say take the action you can then save your sanity by putting it on the back burner. That works for most things in life and has worked for me for over 6 decades and never had any great stress and I like to keep it that way.
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travolta
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Post by travolta on Sept 17, 2019 12:41:49 GMT
Its gonna take years and there will be f*** all left, except us sad losers meeting on line saying 'Remember Lendy', as we champ on our feeding cups in local authority care homes. Hopfully Liam will have fallen off his jet ski under an Iranian oil tanker passing by Malta.
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Post by bracknellboy on Sept 17, 2019 12:52:11 GMT
Its gonna take years and there will be f*** all left, except us sad losers meeting on line saying 'Remember Lendy', as we champ on our feeding cups in local authority care homes. Hopfully Liam will have fallen of his jet ski under an Iranian oil tanker passing by Malta. except you won't be able to afford the top up fees for that care home because a) you lost a load of dosh on Lendy and b) the LA is forced to charge additional exorbitant costs because the cheap East European labour that were prepared to do a crappy job for minimum wage levels of pay disappeared years ago when the UK left the EU :-)
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Post by gramsky on Sept 17, 2019 12:59:07 GMT
I have been the victim of two previous companies (spread betting platforms) that have gone into administration and Lendy is the third. It will take time for the Administrators to sort through the mess and return money owed, but it will happen eventually. For the present I am more interested in the loan updates on the platform which hopefully will be updated again sometime next week.
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garfield
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Post by garfield on Sept 17, 2019 14:09:28 GMT
The first Creditors Committee meeting is tomorrow. I hope we will hear something substantive a day or two after that. Finger, toes, ears, eyes crossed. Perhaps you'd like to keep us posted I've no idea what's going on apart from updates from RSM. Fake Facebook accounts really don't do it for me and shouldn't be necessary. I was just about to post to enquire whether there was one or if it had been and gone as I remembered September from somewhere, I hope RSM will publish the minutes of the meeting but no doubt this might be weeks/months away if at all. It's such a pity non-sensitive information isn't shared publicly for all investors. You don't have to join FB, you can register with the LAG website to be kept up-to-date:
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Greenwood2
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Post by Greenwood2 on Sept 17, 2019 14:14:47 GMT
The first Creditors Committee meeting is tomorrow. I hope we will hear something substantive a day or two after that. Finger, toes, ears, eyes crossed. Probably all under an NDA so not expecting much. The only way of knowing what's going on at Col or Lendy is to be on the Creditors Committee. Remind me to stand... next time. 
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Greenwood2
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Post by Greenwood2 on Sept 17, 2019 14:23:28 GMT
Perhaps you'd like to keep us posted I've no idea what's going on apart from updates from RSM. Fake Facebook accounts really don't do it for me and shouldn't be necessary. I was just about to post to enquire whether there was one or if it had been and gone as I remembered September from somewhere, I hope RSM will publish the minutes of the meeting but no doubt this might be weeks/months away if at all. It's such a pity non-sensitive information isn't shared publicly for all investors. You don't have to join FB, you can register with the LAG website to be kept up-to-date: I expect anything exciting posted on LAG will find its way onto here.
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garfield
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Post by garfield on Sept 17, 2019 14:34:24 GMT
You don't have to join FB, you can register with the LAG website to be kept up-to-date: I expect anything exciting posted on LAG will find its way onto here. Plenty on there to whet your interest!! And no, things are not tending to find their way on here.
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bramhall17
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Post by bramhall17 on Sept 17, 2019 15:43:53 GMT
Nor should they. LAG members obviously have a direct vested interest in not compromising any ongoing asset recoveries or legal actions.
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Greenwood2
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Post by Greenwood2 on Sept 17, 2019 16:09:20 GMT
I expect anything exciting posted on LAG will find its way onto here. Plenty on there to whet your interest!! And no, things are not tending to find their way on here.
Whet your interest, yes, satisfy it, no. LAG 'leaders' seem to keep anything sensitive pretty much to themselves, probably just as well, it would be impossible to keep secrets shared with 1000+ people, possibly including borrowers and Lendy former employees etc.
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