Post by criston on Nov 4, 2020 19:37:58 GMT
Lenders are looking at a horrendous loss on this defaulted loan, after the development has been sold, even if further funds are forthcoming.
Lenders will end up with a loss around between 52% to 68%, dependant on further recoveries.
The last monthly monitoring fee paid to AC was £4068 on 20/1/20.
What I am trying to understand is how AC can justify being paid a £59402 monitoring fee on 5/10/20, once the recovery funds were received. That's getting on for 5% of the net recovery.
This on top of a £17,730 exit fee. That's around 1.5% of the net recovery.
They will of course state this to be in accordance with the T & Cs.
Lenders will end up with a loss around between 52% to 68%, dependant on further recoveries.
The last monthly monitoring fee paid to AC was £4068 on 20/1/20.
What I am trying to understand is how AC can justify being paid a £59402 monitoring fee on 5/10/20, once the recovery funds were received. That's getting on for 5% of the net recovery.
This on top of a £17,730 exit fee. That's around 1.5% of the net recovery.
They will of course state this to be in accordance with the T & Cs.
