Voting to allow borrower to keep partial security. (AC)

Further to the recent vote, I have now revised my figures with the additional security, which hopefully will reduce our losses.

Is there anywhere that this is being discussed on a private forum, where I can fill in the spaces, in order not to identify this loan ?

Would it be acceptable to PM the figures to anyone who wants them ?

"The original sales figures were £xxxxxxx & with xxx xxxxx at £xxxxxx the total security was £xxxxxxx, all subject to forced sale/ recent pandemic adjustments plus any further PG up to xx% of £xxxxxx less xxxx xxxxx sale price, subject to availability of further guarantor assets.

Lent to date £xxxxxxx subject to ongoing xxxx% interest currently standing at £xxxxxx.

The last monitoring figure for the cost to complete was £xxxxxx, when £xxxxxx was paid as a tranche, but maybe never used for further works. We must assume taking over the development at this stage would be substantially more than £xxxxxx. Not sure where the £xxxxx VAT rebate, along with the refund of £xxxx from the staircase provider still up for grabs. Looks like the £xxxxx road bond fund is still to be paid.

The difference between the original sale cost of £xxxxxxx & known costs (lenders funds) to date of £xxxxxxx is £xxxxxxx.

So we have £xxxxxxx surplus, less any reduction in sales figures, costs to complete, administrators costs, further interest costs. etc.

AC capital valuation is xxxxx% of £xxxxxxx or £xxxxxxx

The pension of £xxxxxx, which was originally part of the PG has gone."

I assume the £xxxxxx claim ranks behind the lenders.

Is it already being discussed there ?

yes

And that was some downgrade. Somethings gone very wrong on this one. Too much money advanced for too little progress it appears.