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 Jun 27, 2020 20:37:57 GMT
Is anyone aware what happened to LB's house that was up for sale? Subject to the freezing order I assume. No evidence it has sold.
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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: 11,330
Likes: 11,549
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Post by ilmoro on Jun 27, 2020 21:10:53 GMT
What sort of percentage are we talking about (approx),,if we win or lose with regard the waterfall.?? Totally depends on the loan. The level of the default interest distorts the equations in Lendy favour as the time passes, so the longer a loan has continued the larger Lendy's entitlement is. There is a speculative analysis on FB LAG which gives some rough indication. Lendys entitlement is somewhere between 30-50% of recovered funds, so return to lenders would increase by a larger % still so a 60-40 split if Lendy get nothing, lenders get 66% more, 50-50, lenders get 100% more, 80-20, 25% more In terms of the impact on % capital returned size of recovery comes into play. For example, on PBL103 reverting to the original assumed priority of lenders capital first boosts % recovery by 40%, on DFL012 only about 15%.
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rocky1
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Post by rocky1 on Jun 28, 2020 7:53:13 GMT
if LB,TG,and co conspirators are found to have cooked the books a bit what would happen to this £6.8million plus properties and other assets they plundered under the guise of a FCA above board company.unbelievable really that they were really so busy at lendy hq feathering their own nests while screwing lenders and probably borrowers.i really hope the sneaky smirk is wiped off his face and he ends up severely punished by taking the only things he cares about (money and materialistic stuff) away from him and swap his millionaire lifestyle for a prison cell.
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Post by p2plender on Jul 1, 2020 6:44:08 GMT
SFO should be on notice now.
I thin they've been forewarned enough!
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Mousey
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Post by Mousey on Jul 1, 2020 10:45:47 GMT
The judgement has been released after the hearing on 2nd June 2020. It's posted in full in DDC. "There is clear evidence of assets within this jurisdiction, namely, the real properties I will come on to describe in a moment, alleged to have been acquired with the proceeds of the misappropriated funds, at least in relation to one of the defendants, and the value of the property here would be insufficient to satisfy the whole of the claim. There is also at least some evidence -- notably, the use of offshore companies, offshore trusts and offshore accounts -- of assets abroad. That, in my judgment, is sufficient to justify the worldwide aspect of the freezing order."
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micky
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Post by micky on Jul 1, 2020 11:09:35 GMT
Is anyone aware what happened to LB's house that was up for sale? Subject to the freezing order I assume. No evidence it has sold. Covered in the penultimate paragraph of Lendy Ltd v Brooke & Ors [2020].
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Post by Deleted on Jul 1, 2020 15:39:00 GMT
Several people did note when RSM was appointed that their choice of personnel was 'interesting'.
Now one of them is mentioned by name in the court notes. Looks like he is now showing his teeth.
If only the Administrators of other defunct P2P companies showed such clarity of purpose from the start.
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Mousey
Member of DD Central
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Post by Mousey on Jul 1, 2020 15:43:56 GMT
Several people did note when RSM was appointed that their choice of personnel was 'interesting'. Now one of them is mentioned by name in the court notes. Looks like he is now showing his teeth. If only the Administrators of other defunct P2P companies showed such clarity of purpose from the start. I do actually understand there are freezing injunctions against at least 3 directors across two different P2P companies that have gone into administration.
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Post by billy169 on Jul 1, 2020 15:51:52 GMT
Do the other companies also have FCA approvel ?
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sussexlender
Member of DD Central
Cheat seeking missile
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Post by sussexlender on Jul 1, 2020 19:37:29 GMT
The judgement has been released after the hearing on 2nd June 2020. It's posted in full in DDC. [Edited to avoid repetition]
Many thanks for the heads up on this Mousey. Very grateful to you for all your efforts. Best wishes, SXLR
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Post by p2plender on Jul 17, 2020 7:00:02 GMT
Have they been arrested yet do we know?
Calls growing for their arrest.
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cwah
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Post by cwah on Jul 17, 2020 8:24:11 GMT
Have they been arrested yet do we know? Calls growing for their arrest. Is the order a reason for arrest and prison?
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brush
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Post by brush on Jul 17, 2020 8:39:42 GMT
Hands up those who think it should.
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rocky1
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Post by rocky1 on Jul 17, 2020 9:43:09 GMT
Google. white collar crime. i remember LB being interviewed and telling everybody how good they were at it in fact very good at it.we were all reading it as he was talking about his p2p knowledge and experience and handling of multimillion pounds of other people's money. dodgy directors/dodgy borrowers working hand in hand until the well finally run dry. they will probably end up with a slap on the wrist and continue to collect a few more millions from their big loan book which changed T&Cs to their advantage right til the very end of this mess.lendy interest and especially default interest should not come before our meagre capital returns on any of these loans.
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Post by p2plender on Jul 17, 2020 11:54:51 GMT
p2pfinancenews
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