Mousey
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Post by Mousey on Jun 28, 2021 15:59:15 GMT
Some bombshell's revealed on day 1 of todays hearing which I've written about on my blog.
I've also included a list of issues and the Skeleton Arguments for both parties so you can have an understanding of what's going on:
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SteveT
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Post by SteveT on Jun 28, 2021 16:18:05 GMT
Mousey Many thanks for your reporting of these proceedings!
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Mousey
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Post by Mousey on Jun 29, 2021 10:35:45 GMT
Lendy Directions Day 2 - What to Expect
(Link will be updated through the day)
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nyneil
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Post by nyneil on Jun 29, 2021 11:02:13 GMT
Correct me if I'm wrong (which would not be unusual), but If the administrators / Lendy fail to show that the amended waterfall is valid, where Lendy's fees & interest have first priority over lenders capital and interest, the argument about who gets the biggest chunk of interest from defaulted loans is largely irrelevant as most defaulted loans are unlikely to even repay the capital in full, let alone interest.
I would be delighted to just get my capital back!
Great job on the reporting Mousey! Thank you.
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rocky1
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Post by rocky1 on Jun 29, 2021 12:04:34 GMT
they take everything out of whatever is realised just look at the breakdown from DFL17 to see how we ended up with about 1.8m out of the 4m in the coffers. reminds me that i still havent received my little 15% back yet.disgraceful that it looks like we are going to come away from this with just another load of lendy/administrators costs.
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Mousey
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Post by Mousey on Jun 29, 2021 14:50:18 GMT
I'm at the 'day job' tomorrow so will only post from the Skeleton Arguments what I know will be covered in the morning. Hopefully I can be advised by someone what issues will be covered in the afternoon.
I have made an informal request for copies of the transcripts that are being made for the purpose of publication, (prior to making a formal application) so that those unable to attend can have a read through what was said.
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Post by islington on Jun 29, 2021 19:48:00 GMT
Some bombshell's revealed on day 1 of todays hearing which I've written about on my blog.
I've also included a list of issues and the Skeleton Arguments for both parties so you can have an understanding of what's going on:
It looks like your work was promptly used by P2P news again!
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nyneil
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Post by nyneil on Jun 30, 2021 12:25:28 GMT
From a layman's perspective the legal arguments are well beyond my comprehension. What I really want to know is, how are we doing?
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Post by Deleted on Jul 1, 2021 13:57:16 GMT
Well, it seemed quite obvious that both QCs and the judge had personal sympathies for the plight of Lendy investors.
What the law allows for, however, is another thing entirely.
The judgement should be very interesting.
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Mousey
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Post by Mousey on Jul 1, 2021 13:58:39 GMT
Annnnd that concludes the Directions Hearing
HHJ Rawlings indicated that a draft Judgment is likely to be available in either 6 or 12 weeks.
Nb Draft Judgments are private documents so it may well be a matter of weeks after that for an approved Public Judgment to be published.
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ptr120
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Post by ptr120 on Jul 1, 2021 14:52:50 GMT
Thanks @mousey for your reporting. I'm sure that I and many others would be interested in your analysis of the hearing in due course (if you have time or inclination to write one)
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jcb208
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Post by jcb208 on Jul 1, 2021 14:58:50 GMT
Any one know how much was paid out to people as compensation for buying loans on the SM which were in trouble as I never got any, Knew nothing about it looks like it was kept quite . 1 million was mentioned was that due to be payed out or had been.
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Post by wotnot on Jul 1, 2021 15:05:03 GMT
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cwah
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Post by cwah on Jul 1, 2021 15:47:44 GMT
Well, it seemed quite obvious that both QCs and the judge had personal sympathies for the plight of Lendy investors. What the law allows for, however, is another thing entirely. The judgement should be very interesting. How did you see their personal sympathie?
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sqh
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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 Jul 1, 2021 15:54:36 GMT
Any one know how much was paid out to people as compensation for buying loans on the SM which were in trouble as I never got any, Knew nothing about it looks like it was kept quite . 1 million was mentioned was that due to be payed out or had been. I bought PBL030, DFL024, and DFL005 in order to get the default interest at 18%. PBL030 did pay out, but only after a complaint, and even then not in full. DFL024 should still repay in full. DFL005 looks like a huge fraud. p2pindependentforum.com/post/248104/thread
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