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Post by overthehill on Feb 1, 2022 14:46:42 GMT
I think you're saying the net proceeds of all future and frozen loan recoveries (after expenses) are ring fenced and as good as in our pockets. If that is the case where is the money for any successful quistclose claim going to come from ? Presumably directors, company bank account and indirectly other creditors ?
No, Im not saying that at all. Im saying that a 'quistclose trust', isnt an option for the groups youve referenced so isnt the widespread threat to P2P you have suggested.
What groups have I referenced ? People who have put money into a company. Exactly the same type of person who has brought the quistclose trust against FS. I'm not following you at all.
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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: 10,474 
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Post by ilmoro on Feb 1, 2022 15:00:19 GMT
No, Im not saying that at all. Im saying that a 'quistclose trust', isnt an option for the groups youve referenced so isnt the widespread threat to P2P you have suggested.
What groups have I referenced ? People who have put money into a company. Exactly the same type of person who has brought the quistclose trust against FS. I'm not following you at all.
Youve referenced equity investors & creditors. Equity investors have put money in but they havent lent it so wouldnt be able to use 'quistclose' Most creditors havent put money in, they are owed money for services/goods provided (or taxes) so again not an option.
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Post by overthehill on May 3, 2022 20:33:03 GMT
April 2022 Quarterly update in summary:
1. A mob of borrowers going to extreme lengths to avoid their debts and keep their assets whilst treating our legal system like a bitch. 2. A bag of borrowers who keep promising to do something in return for the receivers doing nothing.
3. Quistclose trust legal padlock preventing the payment of our average 50% returns on capital and no interest
4. Most loans are contributing generously to legal and property professionals. 5. Loans too embarassing even to update including scottish loans which are still waiting for surveys 3 years on. The loans which have had more solicitors than a Rose Street pub on a friday night.
6. One borrower towed his house away on a trailer and the receivers are trying to locate it.
The last one was a joke... I think.
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zuluwarrior
Member of DD Central
chap from Newcastle, dabbling here and there. Long-time lurker of the forums
Posts: 78
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Post by zuluwarrior on May 6, 2022 16:40:10 GMT
Is it possible to read quarterly updates without being a previous lender? I'd like to be able to have a look at the errors of FS
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Mucho P2P
Member of DD Central
Posts: 941
Likes: 1,623
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Post by Mucho P2P on May 6, 2022 17:46:41 GMT
Is it possible to read quarterly updates without being a previous lender? I'd like to be able to have a look at the errors of FS The errors are not covered in the quarterly updates.
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Post by df on May 6, 2022 18:47:59 GMT
Is it possible to read quarterly updates without being a previous lender? I'd like to be able to have a look at the errors of FS No, you have to be able to sign in to see the updates. They are not very informative anyway, except 30/07/2021 on Italian Books was an interesting read 
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Post by overthehill on May 6, 2022 18:50:17 GMT
Is it possible to read quarterly updates without being a previous lender? I'd like to be able to have a look at the errors of FS No, you have to be able to sign in to see the updates. They are not very informative anyway, except 30/07/2021 on Italian Books was an interesting read  also, you can only see the loans you're invested in.
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rocky1
Member of DD Central
Posts: 1,070
Likes: 1,847
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Post by rocky1 on May 7, 2022 6:14:54 GMT
Is it possible to read quarterly updates without being a previous lender? I'd like to be able to have a look at the errors of FS plenty to read on the forum.FS,LY,MT,COLL etc will keep you going for many hours with the BS lenders were led to believe before these platforms finally folded.
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Post by overthehill on Jul 29, 2022 16:00:57 GMT
Also known as the borrower's hall of shame quarterly update. How many times is the borrower and his solicitors allowed to waste the time of legally appointed representatives and the courts without any repercussions, no wonder deserving people can't afford to use the courts.
All my unrecovered loans had an update with one exception, not that any of them had materialized funds in the last 3 months.
No update for Aughnacloy, Co. Tyrone. Last update 3 months ago "This is now being undertaken by new solicitors, given the issues with the previous solicitors."
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adrian77
Member of DD Central
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Post by adrian77 on Jul 29, 2022 18:18:25 GMT
For me no update
Land in Lytham St Annes
- probably a 100% loss due to lack of transparency etc
Development Plot, Liverpool - a 100% loss?
This one really annoys me - I lent against a first charge
and then we get on 28/01/2020
so a first charge was given away and we get nothing?
Well that sums up FS to me - if I typed what I thought I would be banned....
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Post by overthehill on Jul 29, 2022 18:54:32 GMT
For me no update Land in Lytham St Annes - probably a 100% loss due to lack of transparency etc Development Plot, Liverpool - a 100% loss? This one really annoys me - I lent against a first charge and then we get on 28/01/2020 so a first charge was given away and we get nothing? Well that sums up FS to me - if I typed what I thought I would be banned.... Wasn't expecting another update so soon for Lytham St Annes, borrower was made bankrupt, 3rd party litigation on-going, I'm in his other shambolic loan as well.
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Post by bodroll on Jul 30, 2022 15:35:02 GMT
Can someone please advise how to gain acces to the quarterly updates? thanks
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iRobot
Member of DD Central
Posts: 1,553
Likes: 2,277
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Post by iRobot on Jul 30, 2022 16:00:48 GMT
Can someone please advise how to gain acces to the quarterly updates? thanks
For those loans that you're invested in, you can view them on the FS website via your login and then www.fundingsecure.com/myaccount/investmentsFor those loans that you aren't invested in, then you may find them outlined or even quoted verbatim in their respective loan threads either here (in the public area) or in the restricted area which requires an access request as per this post. (Strictly speaking you need to have made at least 50 posts to gain access, although ask nicely and the fact you've been posting since 2017 may be taken into consideration   )
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Post by multiaccountmanager on Oct 31, 2022 10:10:07 GMT
Are we expecting updates as of 31/10/2022?
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Post by overthehill on Oct 31, 2022 10:26:23 GMT
Are we expecting updates as of 31/10/2022?
Yes, I'm expecting zero news which is better than zero good news.
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