Post by scooter on Apr 7, 2021 16:03:43 GMT
Hi,
P2P lends (my) money to Company PPH.
PPH pay for a little while and then start paying about 40% of capital repayments under recovery plan.
PPH give large loan to Company WC a related company who presumably couldn't get the loan themselves.
P2P carries out regular checks on PPH and sees no way they can increase their payments.
PPH stops paying all together.
Can anyone tell me if this breaks any rules /regulations.....
If WC goes into liquidation, where do PPH sit in terms of creditors, because P2P isn't going to be a creditor at all.
Does P2P have any rights to demand immediate repayment of all funds?
If PPH asked for a loan for one thing and then gave it away to WC is that fraud?
Any other thoughts...
P2P lends (my) money to Company PPH.
PPH pay for a little while and then start paying about 40% of capital repayments under recovery plan.
PPH give large loan to Company WC a related company who presumably couldn't get the loan themselves.
P2P carries out regular checks on PPH and sees no way they can increase their payments.
PPH stops paying all together.
Can anyone tell me if this breaks any rules /regulations.....
If WC goes into liquidation, where do PPH sit in terms of creditors, because P2P isn't going to be a creditor at all.
Does P2P have any rights to demand immediate repayment of all funds?
If PPH asked for a loan for one thing and then gave it away to WC is that fraud?
Any other thoughts...