nw99
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Post by nw99 on Apr 25, 2020 16:12:34 GMT
Agreed makes perfect sense
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blender
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Post by blender on Apr 25, 2020 17:59:03 GMT
I found the risk palatable purchasing the available loan parts between 75-80% and will continue to do so at those levels. I think that those who needed to get out did so before 24 April, and you will not see those offer prices again. Take a deep breath on 24 May, though most traders will have taken 10% by then. Good luck
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nw99
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Post by nw99 on Apr 27, 2020 17:51:54 GMT
Best offer 95.5
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nick
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Post by nick on Jun 10, 2020 6:22:13 GMT
I note from Companies House the majority shareholder and director whom is/was the key person behind the business has resigned and control has passed to a lender/ finance house (who is another Abl borrower). ablrate - are you able to provide some background to this change in control and ownership and confirm the personal guarantee with the original proprietor/director continues in force?
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Post by ablrate on Jun 10, 2020 15:57:27 GMT
I note from Companies House the majority shareholder and director whom is/was the key person behind the business has resigned and control has passed to a lender/ finance house (who is another Abl borrower). ablrate - are you able to provide some background to this change in control and ownership and confirm the personal guarantee with the original proprietor/director continues in force? Yes, sorry we should have done an update... doing it now
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Post by elephantrosie on Jun 10, 2020 16:39:34 GMT
I note from Companies House the majority shareholder and director whom is/was the key person behind the business has resigned and control has passed to a lender/ finance house (who is another Abl borrower). ablrate - are you able to provide some background to this change in control and ownership and confirm the personal guarantee with the original proprietor/director continues in force? Do we know the reason behind it?
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Post by elephantrosie on Jun 10, 2020 20:28:29 GMT
I found the risk palatable purchasing the available loan parts between 75-80% and will continue to do so at those levels. I think that those who needed to get out did so before 24 April, and you will not see those offer prices again. Take a deep breath on 24 May, though most traders will have taken 10% by then. Good luck What do you mean by 10%?
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Post by Ace on Jun 10, 2020 21:33:37 GMT
I note from Companies House the majority shareholder and director whom is/was the key person behind the business has resigned and control has passed to a lender/ finance house (who is another Abl borrower). ablrate - are you able to provide some background to this change in control and ownership and confirm the personal guarantee with the original proprietor/director continues in force? Yes, sorry we should have done an update... doing it now ablrate , given that this loan was largely sold on the expertise and track record of the director who has now resigned with the loan less than a tenth through its term, surely lenders deserve more than the very scant information provided in today's amin note. Information on the reasons for the resignation, plans for the future given the resignation, and the state of the relationship with the remaining director would be a welcome start.
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Post by elephantrosie on Jun 10, 2020 23:42:58 GMT
Yes, sorry we should have done an update... doing it now ablrate , given that this loan was largely sold on the expertise and track record of the director who has now resigned with the loan less than a tenth through its term, surely lenders deserve more than the very scant information provided in today's amin note. Information on the reasons for the resignation, plans for the future given the resignation, and the state of the relationship with the remaining director would be a welcome start. Only one remaining director on companies house. The others have left the company...
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IFISAcava
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Post by IFISAcava on Jun 11, 2020 1:25:54 GMT
I think that those who needed to get out did so before 24 April, and you will not see those offer prices again. Take a deep breath on 24 May, though most traders will have taken 10% by then. Good luck What do you mean by 10%? buy at 75%, sell at 85% I should think.
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blender
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Post by blender on Jun 11, 2020 7:52:37 GMT
buy at 75%, sell at 85% I should think. Yes, I meant that once the imminent repayment was made - which it was - those who bought at 75% to 80% would be able to make a 10% profit before the subsequent repayment, ie 82.5% to 88%. I am sure that was the case. As it has turned out Ablrate and its lenders have performed extremely well through this viral unpleasantness so far. I would have done better to hold 138 and probably 120 etc - but could not take the risk. I have done exceptionally well overall with Ablrate and when cash levels permit I will be back lending. With Ablrate it's about more than just the money imo - and that's valuable.
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Post by Ace on Jun 18, 2020 18:39:29 GMT
Yes, sorry we should have done an update... doing it now ablrate , given that this loan was largely sold on the expertise and track record of the director who has now resigned with the loan less than a tenth through its term, surely lenders deserve more than the very scant information provided in today's amin note. Information on the reasons for the resignation, plans for the future given the resignation, and the state of the relationship with the remaining director would be a welcome start. Thanks ablrate, a much more informative admin note has now been added to this loan on the platform.
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blender
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Post by blender on Jun 19, 2020 7:58:27 GMT
Yes, it is good to see to disclosure and to build confidence in the ability of the borrower to prosper and repay - which it has 100% so far. The only downside is the source of additional funds in exchange for shareholding, which firmly links this loan to so many others.
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TitoPuente
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Post by TitoPuente on Jun 19, 2020 8:37:51 GMT
Yes, it is good to see to disclosure and to build confidence in the ability of the borrower to prosper and repay - which it has 100% so far. The only downside is the source of additional funds in exchange for shareholding, which firmly links this loan to so many others. On the flip side, this shows that good old A*** C*** F*** are active and generating business even if their website is shamefully broken.
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blender
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Post by blender on Jun 19, 2020 9:34:40 GMT
Yes, it is good to see to disclosure and to build confidence in the ability of the borrower to prosper and repay - which it has 100% so far. The only downside is the source of additional funds in exchange for shareholding, which firmly links this loan to so many others. On the flip side, this shows that good old A*** C*** F*** are active and generating business even if their website is shamefully broken. Yes, but they look after themselves first - as you would expect. If you look at the pub and brewer saga, and how that became 129, 131 and 134, that shows to me that things do not always go as ABL expected originally. We might speculate in this current case on which loan would get paid first in practice, in case things do not work out? I would only wish to sup with our friends with a 2m long spoon at this time. And then there is the common-mode exposure affecting so many loans. I suppose borrowers choose the least-worst option which is available at this extraordinary time. The loan is paid up and tradeable, and so you can make your choice.
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