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Post by gramsky on Nov 1, 2019 8:52:44 GMT
Apologies if this has been answered elsewhere. Is this too much of a simplistic question to answer? Or can it generally be answered that PBLs have greater chance of recovery than DFLs? Having never really thought about it, I didn't realise there was a significant meaning to DFL & PBL.
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MarkT
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Post by MarkT on Nov 1, 2019 9:29:12 GMT
Apologies if this has been answered elsewhere. Is this too much of a simplistic question to answer? Or can it generally be answered that PBLs have greater chance of recovery than DFLs?
IMHO PBLs are generally likely to be much more recoverable than DFLs because with a PBL you know with greater certainty exactly what you have in terms of security. With DFLs the current value will depend very much on how far the development has progressed.
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garfield
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Post by garfield on Nov 1, 2019 9:37:40 GMT
Hi dllive May I suggest that you look for the particular loans you are in for details? It's a humungous topic!
Else tell us here which loans (by number only) and we can help point you to the relevant threads. And do ask if we can help in any other way. We're all in this together!
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Monetus
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Post by Monetus on Nov 1, 2019 9:58:31 GMT
I believe the estimated outcome statement from the Creditors meeting in Birmingham said roughly the same recovery for PBLs and DFLs as an average. Bit bizarre really seeing as development loans were cited in the admin proposals as the reason the platform totally went south and bridging loans (in theory) are supposed to be safer etc.
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sl75
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Post by sl75 on Nov 1, 2019 10:56:13 GMT
The "good" PBLs have already repaid or been recovered... so the range is "bad, but with good security" to "bad, and the security wasn't all that great either".
DFLs were longer-term to start with, and some remained "good" up until the end, so there's a larger range of possible outcomes for the remaining live DFLs.
I think that's what makes up the difference in recovery prospects of the residue.
Broadly speaking, this suggests that an overdue PBL is about similar in terms of expected recovery to an on-time DFL.
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bulletbill
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Post by bulletbill on Nov 1, 2019 13:26:42 GMT
I believe they both have the same chance , fat chance.
This is a swindle Ronnie Biggs would be proud of, the only difference is this swindle is seemingly legal.
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boundah
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Post by boundah on Nov 1, 2019 15:31:23 GMT
I believe they both have the same chance , fat chance. This is a swindle Ronnie Biggs would be proud of, the only difference is this swindle is seemingly legal. I share your emotion, but the fact is that a few have been mostly/partly recovered and cash paid out to lenders already.
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