rrrupert
Member of DD Central
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Post by rrrupert on Sept 30, 2020 0:31:32 GMT
Provision fund got knocked for six by Covid. So that plan is paused for now. If you are in these you should have received the email. I dont expect any more money on these during this year. Longer term who knows.
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Post by Ton ⓉⓞⓃ on Sept 30, 2020 7:56:33 GMT
There are now several threads all asking the same question - so I'm merging them all together.
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puddleduck
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Post by puddleduck on Sept 30, 2020 12:19:17 GMT
I'm not in these loans, but as I understand it the Provision Funds from other accounts were 'raided' to help pay for this settlement?
Given the e-mail last month that the Access Account provision funds may not be sufficient for future ring fencing, what is the rationale for this bail out which seems to be almost the definition of robbing Peter to pay Paul? Surely if it's an Assetz cock-up, the funds should come from their own revenues?
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Post by peterst on Sept 30, 2020 12:52:40 GMT
If I remember correctly originally Assetz were going to repay lenders from their own funds (raising additional capital to do so), but then decided that as there was a surplus in the provisions funds which they were entitled to withdraw, they would use that instead.
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jlend
Member of DD Central
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Post by jlend on Sept 30, 2020 14:32:44 GMT
If I remember correctly originally Assetz were going to repay lenders from their own funds (raising additional capital to do so), but then decided that as there was a surplus in the provisions funds which they were entitled to withdraw, they would use that instead. See emails to lenders on 28th Feb 2019 with the original offer.
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Post by angel19 on Sept 30, 2020 17:25:49 GMT
Email updates now arrived.
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iann
Posts: 105
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Post by iann on Dec 31, 2020 16:51:13 GMT
Email update for this quarter has arrived too, no change in the position (again).
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dave2
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Post by dave2 on Dec 31, 2020 20:12:20 GMT
Email update for this quarter has arrived too, no change in the position (again). The correct decision under the current circumstances. 👍
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Post by buzzablinio on Mar 17, 2021 7:55:10 GMT
Another potential non payment deadline just a couple of weeks away 🙄
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Post by buzzablinio on Mar 19, 2021 16:41:13 GMT
Well....that sounds promising.... emails just received...roll on April 1....hope that's not prophetic....
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min
Member of DD Central
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Post by min on Mar 19, 2021 16:42:05 GMT
Well....that sounds promising.... Indeed it does/ Well done Assetz.
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elsee
Member of DD Central
Retired:D
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Post by elsee on Mar 19, 2021 18:29:05 GMT
I got quite excited, until I discovered I only had £10 left in this loan.
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Post by buzzablinio on Mar 20, 2021 9:33:51 GMT
I got quite excited, until I discovered I only had £10 left in this loan. I wish I only had £10 in this mess instead of 5 figures
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ton27
Member of DD Central
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Post by ton27 on Mar 20, 2021 11:29:31 GMT
I have holdings of about £750 but have not been too concerned as I thought (and still think) that AC will sort this one out.
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Post by df on Mar 20, 2021 20:41:42 GMT
I have holdings of about £750 but have not been too concerned as I thought (and still think) that AC will sort this one out. I always had confidence that they will proceed with the plan when the conditions allow.
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