wuzimu
Member of DD Central
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Post by wuzimu on Sept 12, 2021 9:43:28 GMT
DFL002 was one of the Exeter loans from 2016.
This loan has been assigned as M1 by the Administrators, rather than M2.
The difference -- M1 means lenders may end up with no recovery. M2 means lenders may end up with a substantial recovery as the security was sold by the security trustee, SSSHL, for the majority of the loan value.
I can't reveal here the basis of the Administrators reasoning but I can say it is certainly in the interests of DFL002 lenders to find each other to press the compelling arguments to get the right outcome.
PM me please.
I will be posting similar call on LAG Facebook
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c88dnf
Member of DD Central
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Post by c88dnf on Sept 12, 2021 14:36:43 GMT
DFL002 was one of the Exeter loans from 2016. This loan has been assigned as M1 by the Administrators, rather than M2. The difference -- M1 means lenders may end up with no recovery. M2 means lenders may end up with a substantial recovery as the security was sold by the security trustee, SSSHL, for the majority of the loan value. Interesting - do you have a list showing to which category all loans have been allocated? If already on the forum, apologies: I don't check every new post.
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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
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Post by ilmoro on Sept 12, 2021 15:29:02 GMT
DFL002 was one of the Exeter loans from 2016. This loan has been assigned as M1 by the Administrators, rather than M2. The difference -- M1 means lenders may end up with no recovery. M2 means lenders may end up with a substantial recovery as the security was sold by the security trustee, SSSHL, for the majority of the loan value. Interesting - do you have a list showing to which category all loans have been allocated? If already on the forum, apologies: I don't check every new post. Yep, on the forum multiple times (since about 2016 in some form), LAG FB, and communicated by the administrators often, but for the record M1 - PBL027, 31, 56, DFL001, 2 M2 - all other extant loans incl those with claims underway
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Post by blencathra on Oct 6, 2021 8:40:29 GMT
REMINDER - DFL002 lenders
Do you want some recovery or are you happy to give your recovery money away?
The administrators are assigning DFL002 "akin" to a M1 loan and keeping your recovery money for the Lendy estate and to
use it to pay the costs of the Administration including their own bills.
This means no recovery for lenders. However, we believe this loan is M2 which would mean substantial recovery for lenders
of around £2,200,000.
If you want a chance of recovery (instead of probably zero), you need to act.
If you are a DFL002 lender, please PM WUZIMU who created this thread.
Thanks.
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Post by gramsky on Oct 6, 2021 8:57:28 GMT
REMINDER - DFL002 lenders
Do you want some recovery or are you happy to give your recovery money away?The administrators are assigning DFL002 "akin" to a M1 loan and keeping your recovery money for the Lendy estate and to use it to pay the costs of the Administration including their own bills. This means no recovery for lenders. However, we believe this loan is M2 which would mean substantial recovery for lenders of around £2,200,000. If you want a chance of recovery (instead of probably zero), you need to act. If you are a DFL002 lender, please PM WUZIMU who created this thread. Thanks. How do I PM someone on here and what information do you require?
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Post by blencathra on Oct 6, 2021 9:19:38 GMT
Click on the messages tab at the top of the screen in dark blue, then click "create message" on the right hand side near the top.
You will need to search for the username "wuzimu" (who created this thread) and then write your message.
I will send you a message for you to see if you can find it in "inbox" under messages.
You do not need to send any info, Wuzimu will provide you with info. Thanks
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Post by bigp on Oct 6, 2021 19:44:14 GMT
Hi wuzimu. Was reading about dfl002. How can I give my details about this loan. Just want to say a big thank you. For all yours and everybody’s help for all lenders.
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Post by blencathra on Oct 7, 2021 8:33:32 GMT
Hi BigP
You will not need to give any details, just message WUZIMU by the method ("messages") I posted above your post and he will advise what you need to do. Thanks.
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Post by mars1bar on Oct 7, 2021 19:02:17 GMT
I'm a DFL002 lender.
Thanks for your help.
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Post by blencathra on Oct 11, 2021 10:26:49 GMT
Further reminder - DFL002 Exeter lenders
Do you want some recovery or are you happy to give your recovery money away?
The administrators are assigning DFL002 "akin" to a M1 loan and keeping your recovery money for the Lendy estate and to
use it to pay the costs of the Administration including their own bills.
This means most likely no recovery for lenders. However, we believe this loan is M2 which would mean substantial recovery for lenders
of around £2,200,000 less any additional costs.
If you want a chance of recovery (instead of probably zero), you need to act.
If you are a DFL002 lender, please message WUZIMU who created this thread and will advise what you need to do to potentially help yourself.
Thanks.
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Post by bigp on Oct 11, 2021 13:11:20 GMT
How to reply to wuzimu. Please help DFL002 lender.
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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: 11,330
Likes: 11,549
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Post by ilmoro on Oct 11, 2021 14:01:45 GMT
How to reply to wuzimu. Please help DFL002 lender. See the post by Paul123 in this thread
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ton27
Member of DD Central
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Post by ton27 on Oct 11, 2021 15:39:48 GMT
How to reply to wuzimu. Please help DFL002 lender. I have messaged you as per the instructions but have not got a response - can you help please?
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wuzimu
Member of DD Central
Posts: 236
Likes: 735
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Post by wuzimu on Oct 11, 2021 16:01:26 GMT
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adrianc
Member of DD Central
Posts: 10,022
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Post by adrianc on Oct 12, 2021 6:47:29 GMT
Was there ever any doubt that DFL001 and 002 were and always had been "old terms", model 1 loans?
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