Being wound-up, big write offs coming (W)

Surely if the CVA is voted for then the terms of the CVA are set so we can't change them - "[The CVA] is a legally binding agreement between the business and its creditors that details how repayments of company debt should be formulated to provide a better outcome to creditors when versus the alternative option of administration" 

So if you want to change the terms of the CVA then you have to vote against it or am I missing something?

One other thing - not voting until the last minute - I can see why people are saying this but I would not encourage it, not everone will get it done in time. Also officially if you vote now your vote won't be counted until 13 October anyway: "Voting closes on 23.59pm 13 October 2020 at which point Duff & Phelps will count all votes and the results will be announced in the days following".
 
So vote now and vote no - www.wellesley.co.uk/investor-information/vote/

My experience is (from several p2p cases) that a negotiation will not be entertained and if it is entertained, it will not go through. The lender base is too fragmented to gain enough support in the short time available to negotiate with a bunch of [bleeps] GW&co, and  highly experienced professionals (D&P).  For a start, which "negotiator" from the lenders side will go and discuss with WG and D&P? Does that person have any experience in negotiating, bearing in mind D&P have enormous experience in these specific matters.

Whichever deal people vote for, it is a "head they win, tails we lose" scenario. Anyone, please feel free to come back here in several years time and correct me if I am wrong.


For the record, I have already voted against the CVA, but everyone should make up their own mind at to how they wish to vote.

All P2P cases are still live and running in administration. A large factor in the repayments depends upon the contracts that were used and the types of security obtained, together with the lender’s allocation of specific loans, and how heavily the lender was invested in specific loans or if the lender was diversified amongst most loans in the loan book. it is impossible to give accurate estimates due to the above.



Hence, as a ballpark figure, and naturally depending upon the holders loan diversification, I believe average repayments are looking to settle around the 30p in the £, most unfortunately!! There will be lenders who receive more, and lenders that receive less.

I agree with the above comments from Mucho. My experience with a P2P company in administration (still ongoing after 2 years!!) is 38p in the pound from only 2 of th 10 loans that I had/have. 

M1ke. Of course Wellesley could have worked with its clients to get over the short term liquidity issue, but instead saw this as a golden opportunity to rip them off and for the Directors to make a huge amount of money at their clients expense. As you say similar platforms have faced similar issues but have introduced equitable measures. This is what is so disgusting about the 'Wellesley Way' it's an attempt to rob you of your capital and accrued interest in broad daylight.