Post by multiaccountmanager on Oct 1, 2019 9:51:44 GMT
Dear CP Rep,
Thank you for the compehensive details of this project now on the web site ahead of the webinar and impending launch.
Unfortunately I am not available for the webinar, but do support the project in principle while having a question regarding the Director who appears to be an accountant with a background of 20 years in Property Development.
Companies House records indicate that he is one of the two directors of The Smugglers Development Company Limited.
It appears that company was served notice of being struck off the register because of late filing of accounts, but managed to file just in time to avoid the action.
It would be good to know that CP were already aware of this and the explanation that was accepted in the circumstances.
Post by CrowdProperty Representative on Oct 1, 2019 13:19:18 GMT
We undertake very thorough checks on all borrowers across all aspects (we covered this in our Due Diligence, Security & Operational Best Practice Webinar a couple of months ago). Companies House checks are part of this process.
Yes, The Smugglers Development Company is another project SPV part-owned by the borrower that was setup in 2017. The first accounts were late and a notice was served but as you recognise, the company was not struck off. The Director is currently active in 4 companies and is up to date on accounts in those companies and so we treated this notice as a one-off situation in the filing of the first accounts for this SPV.
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