boundah
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Post by boundah on Oct 31, 2019 14:59:12 GMT
Re today's update and SM pause: should we be worried? ABL seem sanguine/upbeat but other platforms have been similarly positive just before something goes wrong...
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sj
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Post by sj on Oct 31, 2019 15:09:02 GMT
ABL are pretty straight-talking when it comes to news, good as well as bad (e.g. the recent issue with the brewery loan). If they say that it is positive then I for one am happy to believe them. They don't just publish hearsay and speculation to placate the lenders, unlike some other platforms I could name...
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blender
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Post by blender on Oct 31, 2019 15:11:33 GMT
Rather puzzled. To pause it for 24 hours quoting the reduction of the score from 25 to 21 as a reason seems very odd, when you consider that the score was changed on 4 October. There is more to be known. However, I do hold some of 109, and my ablrate loans never go wrong. So there is no need to worry.
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Post by ablrate on Oct 31, 2019 17:09:59 GMT
There is news coming... but until we have done the paperwork we can't say. However, we didn't want anyone selling at a discount and then coming back and saying they would not have sold if they had know what was going on. So basically we wanted a quick pause which cancels all bids and offers, and then let lenders know that some news is on the way. Basically, it gives people the option to take a pause and wait for the news or bid/offer if they want - but at least they know news is on the way and are not blindsided. It is not bad news btw.
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blender
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Post by blender on Nov 5, 2019 18:48:39 GMT
'We have paused loan 101 and 109 for the next 24 hours. ... Posted On 31/10/2019 14:04'
I have often wondered how many normal 'Earth' hours there are in an Ablrate hour, or day. Quite a few I think - five to one so far in this case. Even in space series like Star Trek the aliens all kindly work in Earth hours, or days or seconds for their dastardly countdowns - no matter what periods the passage of time might take on their own planet. It's only on Earth itself that the timings are not meaningful. Washing machines, for example, consistently say they have two minutes left, but if you wait it is clear that their minutes relate to another world. And then there are Ablrate hours and days, which are clearly proper to some other alien planet with an erratic, but always slower, rotation than the Earth. That 'final paperwork' on 129 for example is almost legendary. Pleased to know that the eventual news on this will not be bad.
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Post by ablrate on Nov 6, 2019 9:49:26 GMT
'We have paused loan 101 and 109 for the next 24 hours. ... Posted On 31/10/2019 14:04'
I have often wondered how many normal 'Earth' hours there are in an Ablrate hour, or day. Quite a few I think - five to one so far in this case. Even in space series like Star Trek the aliens all kindly work in Earth hours, or days or seconds for their dastardly countdowns - no matter what periods the passage of time might take on their own planet. It's only on Earth itself that the timings are not meaningful. Washing machines, for example, consistently say they have two minutes left, but if you wait it is clear that their minutes relate to another world. And then there are Ablrate hours and days, which are clearly proper to some other alien planet with an erratic, but always slower, rotation than the Earth. That 'final paperwork' on 129 for example is almost legendary. Pleased to know that the eventual news on this will not be bad. Here is the issue... we have information that could of affected the market. It was due to be confirmed within 24 hours... we wanted to pause the market as soon as we knew so lenders did not sell out at a discount.... because a) its not right and b) we would be expected to make up the 'loss'. Unfortunately the lawyers did not confirm and suddenly there is a bunch of money being queued to be sold out of the Portfolio Loan.. so we left the other two loans paused until the confirmation. Yes, we should have said 'until further notice' but hopefully you will have confirmation of the info very soon and all will be revealed.
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hantsowl
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Post by hantsowl on Nov 6, 2019 12:09:31 GMT
'We have paused loan 101 and 109 for the next 24 hours. ... Posted On 31/10/2019 14:04'
I have often wondered how many normal 'Earth' hours there are in an Ablrate hour, or day. Quite a few I think - five to one so far in this case. Even in space series like Star Trek the aliens all kindly work in Earth hours, or days or seconds for their dastardly countdowns - no matter what periods the passage of time might take on their own planet. It's only on Earth itself that the timings are not meaningful. Washing machines, for example, consistently say they have two minutes left, but if you wait it is clear that their minutes relate to another world. And then there are Ablrate hours and days, which are clearly proper to some other alien planet with an erratic, but always slower, rotation than the Earth. That 'final paperwork' on 129 for example is almost legendary. Pleased to know that the eventual news on this will not be bad. Here is the issue... we have information that could of affected the market. It was due to be confirmed within 24 hours... we wanted to pause the market as soon as we knew so lenders did not sell out at a discount.... because a) its not right and b) we would be expected to make up the 'loss'. Unfortunately the lawyers did not confirm and suddenly there is a bunch of money being queued to be sold out of the Portfolio Loan.. so we left the other two loans paused until the confirmation. Yes, we should have said 'until further notice' but hopefully you will have confirmation of the info very soon and all will be revealed. Well, that explains it. "Lawyer time" doesn't coincide with time on any planet in the universe, let alone earth time. The only consistent fact about "lawyer time" is that it ALWAYS passes slower than time anywhere else...
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Post by bracknellboy on Nov 6, 2019 12:18:17 GMT
Here is the issue... we have information that could of affected the market. It was due to be confirmed within 24 hours... we wanted to pause the market as soon as we knew so lenders did not sell out at a discount.... because a) its not right and b) we would be expected to make up the 'loss'. Unfortunately the lawyers did not confirm and suddenly there is a bunch of money being queued to be sold out of the Portfolio Loan.. so we left the other two loans paused until the confirmation. Yes, we should have said 'until further notice' but hopefully you will have confirmation of the info very soon and all will be revealed. Well, that explains it. "Lawyer time" doesn't coincide with time on any planet in the universe, let alone earth time. The only consistent fact about "lawyer time" is that it ALWAYS passes slower than time anywhere else... and at a higher cost ......
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hazellend
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Post by hazellend on Nov 15, 2019 16:47:53 GMT
Wow, great news for 101 in particular
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p2pfan
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Post by p2pfan on Nov 18, 2019 0:01:09 GMT
Been quite a while now and still paused, which is worrying.
Any idea when the update will be disclosed please?
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Nov 18, 2019 1:53:26 GMT
Been quite a while now and still paused, which is worrying. Any idea when the update will be disclosed please? Erm, last Fri, by email & admin note added. Check email preferences/spam
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Post by simert on Jan 10, 2020 20:00:53 GMT
Anyone know why I can't sell any of the portfolio loan 1000116? I've not received any communication that it's paused?
I had some for sale and the sale got cancelled. It's now showing £0 available.
When I try to sell there is no "Process" button shown to activate the sale.
I've emailed Ablrate also.
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KoR_Wraith
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Post by KoR_Wraith on Jan 14, 2020 13:53:53 GMT
Wow, great news for 101 in particular Does anyone have any insight into how directly responsible Dow***g is for the successful repayment of 101? That is to say, if Dow***g were to deem the assets below the value of the loan and walk away, would there be any recourse against Dow***g's other operations or are they entirely shielded against this via the SPV? I'm trying to get a feel for the repayment risk; Dow***g have a multitude of other business ventures whereas the original borrower had far more to gain by making these projects a success. Loan 101 has until recently been trading at a premium, presumably due to the value being placed on Dow***g's ability to meet the final repayment, but ability to repay and incentive to repay are not the same thing. Any insights greatly appeciated!
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pi
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Post by pi on Jan 14, 2020 16:30:53 GMT
The defaults are mounting. I still have faith in ABLRate hope it works out eventually.
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Post by Badly Drawn Stickman on Jan 14, 2020 17:25:12 GMT
I don't have any defaults. But I do get nervous. Fear not there is every chance the upcoming new loan to a nautical vessel may be a lifeboat.
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