k6
Posts: 162
Likes: 100
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Post by k6 on Jun 22, 2020 13:48:35 GMT
The IFISA bonds were repaid in full with interest last week. Correct. Got my in full plus interest but no bonuses which is bit annoying as I have kept my investment for almost a year ( 2 weeks short ). Very dodgy and Cheeky of them.
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Post by garreh on Jun 22, 2020 14:59:26 GMT
The IFISA bonds were repaid in full with interest last week. Correct. Got my in full plus interest but no bonuses which is bit annoying as I have kept my investment for almost a year ( 2 weeks short ). Very dodgy and Cheeky of them. Can anyone hear that violin playing?
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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: 10,843
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Post by ilmoro on Jun 23, 2020 7:30:00 GMT
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Mucho P2P
Member of DD Central
Posts: 945
Likes: 1,632
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Post by Mucho P2P on Jun 23, 2020 8:54:02 GMT
Here comes the borrowers "negotiations" with GS due to the constrained time limit, and who will have to bear these legal costs, the lenders yet again!
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Post by nesako on Jun 23, 2020 13:35:56 GMT
Here comes the borrowers "negotiations" with GS due to the constrained time limit, and who will have to bear these legal costs, the lenders yet again! To be honest, I believe this is good news as this is showing that someone is really working hard to help out GS Borrowers to find alternative financing as opposed to them just defaulting. It is also encouraging that they had some positive responses from the alternative lenders already. I personally did not think more than 1/3 of borrowers would be able to pay back within those 3 months and extensions will be given. I still expect around half to pay back within 6 months and then we will enter a slowdown over the following 6 months.
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Post by David B on Jun 27, 2020 8:17:13 GMT
Disappointed they have only managed to secure 5% of the loanbook so far. What happened to all the proceeds from the 3 month Liquidity event?
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Post by Ace on Jun 27, 2020 8:34:02 GMT
Disappointed they have only managed to secure 5% of the loanbook so far. What happened to all the proceeds from the 3 month Liquidity event?They were paid out to whoever had uninvested funds at the RE date.
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Post by kezza on Jun 27, 2020 10:06:17 GMT
Disappointed they have only managed to secure 5% of the loanbook so far. What happened to all the proceeds from the 3 month Liquidity event?They were paid out to whoever had uninvested funds at the RE date. And it seems to payback all of the ISA funds in full. In all fairness 5% in 9 days is not too bad considering there is no rush for firms provided its within the 3 month return period.
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Post by bikeman on Jul 14, 2020 20:40:23 GMT
They were paid out to whoever had uninvested funds at the RE date. And it seems to payback all of the ISA funds in full. In all fairness 5% in 9 days is not too bad considering there is no rush for firms provided its within the 3 month return period. You're speculating there and are very wrong. ISA funds were held under a separate arrangement and were always fully refundable.
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Post by bikeman on Jul 14, 2020 20:46:04 GMT
The shame of this all is that they could have likely continued operations had they better written the ToS for this kind of event. Their was no issue with the loanbook itself - just the GS model. Even a system in which they payback proportionally for all queued withdrawls (as we are now) would gave worked well enough as they reduced the loanbook size - everyones money is stuck in now for at least 1 year anyway. They also could have then taken new investors hopefully injecting some liquidity for those who want to get out. Forcibly winding up will just cause additional losses on the more risky borrowers who may either just go under or who will just get large extensions from GS anyway (effectively operating as normal). The longer they take winding up, the more operational costs will eat into reimbursements making some borrowers pretty worthless from our point of view. Lets not forget that GS want to exit this business so their t&cs allow them to over their investors. And what do we investors do? We sit on our arses and accept their mismanagement.
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Post by p2pluvverr on Jul 21, 2020 10:49:16 GMT
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Post by garreh on Jul 21, 2020 13:43:48 GMT
Well I guess.... this is good news for investors? Sounds like they are now fully focussing all their efforts on finding alternative lending for borrowers to help investors get back as much of their money as possible. GS have always been living in fantasty land thinking they could continue as a business after all this is done. They have shot themselves in the foot at every opportunity, so it's somewhat of a relief knowing others will be spared from them in the future.
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alender
Member of DD Central
Posts: 955
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Post by alender on Jul 28, 2020 19:15:01 GMT
Review in 4th Way
Not sure it tells us anything we did not know already.
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Post by brummiefred on Sept 1, 2020 15:57:21 GMT
Following receipt of email advising statement availability it transpires a further 19% is available for withdrawal
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puddleduck
Member of DD Central
Posts: 537
Likes: 489
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Post by puddleduck on Sept 1, 2020 17:41:57 GMT
Following receipt of email advising statement availability it transpires a further 19% is available for withdrawal I'm not seeing any funds available for withdrawal my side.
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