ilmoro
Member of DD Central
'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 Apr 7, 2020 13:50:46 GMT
Yes, if a loan is 50% held by the QAA and 50% by MLA investors, the 50% held by the QAA doesn't count, so the outcome will be determined by the preferences of the MLA holder only based solely on their MLA holding. So if 40% of those voted B in the blanket vote, and 60% A, then forbearance will be given, if its the other way round then it wont. Even if a lender holds 1% of a loan in the MLA and 20% in the QAA, his vote only counts for 1% and is outweighed by someone who holds 5% in the MLA and 1% in the QAA. That's how a normal vote works. Not seen anything to indicate current votes are being treated differently. Yet the vote text says "Given the wide-reaching nature of this vote, all Lenders, including those invested via the Access Accounts will be approached."
If you're correct, that sounds as though AC canvassed but then ignored the votes of access account holders.
Ah, I hadn't gone back and looked at the vote text. In that case I am probably not correct in my assumption and all holdings are being used.
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jlend
Member of DD Central
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Post by jlend on Apr 8, 2020 7:41:26 GMT
Yet the vote text says "Given the wide-reaching nature of this vote, all Lenders, including those invested via the Access Accounts will be approached." If you're correct, that sounds as though AC canvassed but then ignored the votes of access account holders.
Ah, I hadn't gone back and looked at the vote text. In that case I am probably not correct in my assumption and all holdings are being used. It does beg the question about whether there is a tipping point in terms of the strength of the access account PFs in general. There may be a point when access account holders should be allowed to vote in normal individual loan votes if the PF unallocated cash drops to an unacceptably low level.
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Mikeme
Member of DD Central
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Post by Mikeme on Apr 17, 2020 9:16:52 GMT
Yesterday I received 3 votes for a hotel group in the Northern. Does anyone know/understand why this is not covered in this vote?
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iann
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Post by iann on Apr 17, 2020 23:56:13 GMT
Yesterday I received 3 votes for a hotel group in the Northern. Does anyone know/understand why this is not covered in this vote? I presume it is because they are wanting to do something which isn't covered within the Forbearance criteria. Details will probably be in the vote text.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Apr 18, 2020 9:04:10 GMT
Yesterday I received 3 votes for a hotel group in the Northern. Does anyone know/understand why this is not covered in this vote? I wonder if a large amount of these loans are held by one underwriter, who didn't agree with forbearance.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
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Post by ilmoro on Apr 18, 2020 10:04:04 GMT
Its to allow funds retained for one purpose to be used for a different purpose. Relates to forbearance but outside the context of umbrella vote
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