rogedavi
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Post by rogedavi on Apr 6, 2020 21:43:09 GMT
I'm convinced that disproportionately paying out a pooled investment is actually illegal.
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alender
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Post by alender on Apr 6, 2020 22:16:15 GMT
I'm convinced that disproportionately paying out a pooled investment is actually illegal. If AC survive I sure this will be looked at by the FCA and perhaps even tested in the courts. However once they have paid out the smaller investors the money is gone and all that is left for the rest of us are poor quality loans.
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rogedavi
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Post by rogedavi on Apr 6, 2020 23:08:43 GMT
If AC is a going concern, then im not too worried.
But obviously if it isnt then treating subsets of investors differently is 1) unfair; and 2) illegal.
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Mikeme
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Post by Mikeme on Apr 7, 2020 7:27:30 GMT
I'm a betting man. I look at the odds and my bet is that the reason that the reason it was not until late in the day on the 12th that the decision to halt withdrawals was made was because they discussed first with FCA the actions they would make. Speculation I know. Only time will tell and I along with all lending members here should now allow them to just get on with their job.
Our borrowers are mainly in a worse position but I know some will try to take advantage ( the Scottish golf hotel golf club owner no 1) Most are honourable, fearful and need our support. I am sure that AC who know unscrupulous and their circumstances more than us will pursue those to the end.
We are all allowed our opinion but for now can I ask that we wait to see what is going to happen in the world at this tragic time.
I wish us all to good health and strength as we wait for this pandemic to pass.
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mrsb
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Post by mrsb on Apr 7, 2020 7:43:58 GMT
I'm a betting man. I look at the odds and my bet is that the reason that the reason it was not until late in the day on the 12th that the decision to halt withdrawals was made was because they discussed first with FCA the actions they would make. Speculation I know. Only time will tell and I along with all lending members here should now allow them to just get on with their job. Our borrowers are mainly in a worse position but I know some will try to take advantage ( the Scottish golf hotel golf club owner no 1) Most are honourable, fearful and need our support. I am sure that AC who know unscrupulous and their circumstances more than us will pursue those to the end. We are all allowed our opinion but for now can I ask that we wait to see what is going to happen in the world at this tragic time. I wish us all to good health and strength as we wait for this pandemic to pass. Late in the day - then backed-up to 00:00 !!
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alender
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Post by alender on Apr 7, 2020 7:44:34 GMT
I'm a betting man. I look at the odds and my bet is that the reason that the reason it was not until late in the day on the 12th that the decision to halt withdrawals was made was because they discussed first with FCA the actions they would make. Speculation I know. Only time will tell and I along with all lending members here should now allow them to just get on with their job. Our borrowers are mainly in a worse position but I know some will try to take advantage ( the Scottish golf hotel golf club owner no 1) Most are honourable, fearful and need our support. I am sure that AC who know unscrupulous and their circumstances more than us will pursue those to the end. We are all allowed our opinion but for now can I ask that we wait to see what is going to happen in the world at this tragic time. I wish us all to good health and strength as we wait for this pandemic to pass. If I was a betting man I would take you up because at the start of the lockdown AC we telling us the payouts would be on a Pro Rata Bases, it was a number of days before they changed their minds to the pool system. Also as another poster has said AC pushed the finances to the wire and had no choice, as I recall the poster stated they did this once before and got away with it which may well have enough them to try this again.
Please tell me how you know so much about our borrowers and lenders positions.
It is fine for small lenders to wait see how it goes because they are benefiting from the current AC policies, larger lenders are being hung out to dry.
On a positive not the equity markets are up round the world due to the improved corona virus statistics, they don't get everything right but generally are more right than wrong so lets hope they are right this time.
One thing I do hope is that we can all wish Boris well with a speedy recovery.
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Mikeme
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Post by Mikeme on Apr 7, 2020 7:59:41 GMT
I'm a betting man. I look at the odds and my bet is that the reason that the reason it was not until late in the day on the 12th that the decision to halt withdrawals was made was because they discussed first with FCA the actions they would make. Speculation I know. Only time will tell and I along with all lending members here should now allow them to just get on with their job. Our borrowers are mainly in a worse position but I know some will try to take advantage ( the Scottish golf hotel golf club owner no 1) Most are honourable, fearful and need our support. I am sure that AC who know unscrupulous and their circumstances more than us will pursue those to the end. We are all allowed our opinion but for now can I ask that we wait to see what is going to happen in the world at this tragic time. I wish us all to good health and strength as we wait for this pandemic to pass. Late in the day - then backed-up to 00:00 !! For everyone on that day is how I read it. The decision made much earlier but checking the legality of it. However it wan't change now.
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maotw
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Post by maotw on Apr 7, 2020 8:05:58 GMT
Also - unsweep instructions on the day (12th) were erased (it seems), then converted to direct invest+withdraw on the 19th, putting them at a disadvantage (if chronological ever returns) to direct withdrawals done 12~19th.
They acknowledge that I unswept on the 12th, but insist the timing of the direct withdrawal that it was "converted to" has to stick on the 19th.
And before anyone says again - I accept that i'm being optimistic that a chronological queue will ever return.
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alanh
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Post by alanh on Apr 7, 2020 8:10:47 GMT
If AC is a going concern, then im not too worried. But obviously if it isnt then treating subsets of investors differently is 1) unfair; and 2) illegal. In the event of the collapse of AC the biggest investors, having had their cash replaced with others loans, are likely to see most of their investment wiped out. Whilst that will no doubt be a hilarious prospect for the odd lowlife poster on here, it must also be illegal.
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Post by Harland Kearney on Apr 7, 2020 11:33:11 GMT
Also - unsweep instructions on the day (12th) were erased (it seems), then converted to direct invest+withdraw on the 19th, putting them at a disadvantage (if chronological ever returns) to direct withdrawals done 12~19th. They acknowledge that I unswept on the 12th, but insist the timing of the direct withdrawal that it was "converted to" has to stick on the 19th. And before anyone says again - I accept that i'm being optimistic that a chronological queue will ever return. Same boat yes, I hope a logical order returns too. For now though I don't think it would move alot, since RS are funding the RYI with borrower repayments. Their queue is still on 10th, they move about 1 day every 2.5-3 weeks currently (a entirely diff asset type and loan book holdings, not property/SME focused) Majority of us on this board will likely have got nothing as of yet, and it keep being that way until forebarance is over. Not all though. By the time we got to 19th, I'm sure forebarance would likely be coming to a end or had already....
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Mikeme
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Post by Mikeme on Apr 7, 2020 11:52:48 GMT
If AC is a going concern, then im not too worried. But obviously if it isnt then treating subsets of investors differently is 1) unfair; and 2) illegal. In the event of the collapse of AC the biggest investors, having had their cash replaced with others loans, are likely to see most of their investment wiped out. Whilst that will no doubt be a hilarious prospect for the odd lowlife poster on here, it must also be illegal. I've been called worse than lowlife and survived. Try harder.
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alanh
Posts: 556
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Post by alanh on Apr 7, 2020 12:03:56 GMT
In the event of the collapse of AC the biggest investors, having had their cash replaced with others loans, are likely to see most of their investment wiped out. Whilst that will no doubt be a hilarious prospect for the odd lowlife poster on here, it must also be illegal. I've been called worse than lowlife and survived. Try harder.  you go around wishing all the worst on people and get called out for it Your response is to change your username to "lowlife by alanh"  ?? I mean, I don't even know where to begin What an absolute freak, no wonder nothing you write makes any sense but carry on, at least you are giving everyone a laugh
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lara
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Post by lara on Apr 7, 2020 16:28:46 GMT
One thing I do hope is that we can all wish Boris well with a speedy recovery.
This. Absolutely. Get well soon Boris. Wishing him a full and speedy recovery.
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you go around wishing all the worst on people and get called out for it
?? I mean, I don't even know where to begin