hazellend
Member of DD Central
Posts: 2,363 
Likes: 2,180
|
Post by hazellend on Feb 5, 2022 14:46:00 GMT
The value of the equity is presumably some element of control ... thats it After being sold to us as 'enhanced security' !!! “Enhanced security” is pathetic given Mr F has lots of actual security he could have offered.
|
|
hubert
Member of DD Central
Posts: 188
Likes: 119
|
Post by hubert on Feb 5, 2022 16:40:28 GMT
Have we really been duped, or is there more to it.
After all it would be in Ablrate's interest, fee wise, platform & confidence, to get things moving again.
Also, why oh why has nothing been forthcoming on 76/87/92/99/118/119/158.
|
|
|
|
Post by Badly Drawn Stickman on Feb 6, 2022 10:06:44 GMT
Duped? I don't know. But as greenzero said, some of the actions taken in the run up to payments to Ablrate stopping do raise questions. Not least the drawdown of the last £500k. On the subject of enhanced security, I repeat this. AF was very free with PGs, cross company & group guarantees when raising money through Ablrate. If he did the same with all the other lenders involved across the various companies with which he is associated, particularly the big Swiss one, then there could be quite a battle to sort it all out. I'm sure somewhere at sometime a personal guarantee has proved worth having but as a general rule of thumb they are fairly pointless. Given events leading to where we are I think the rule of thumb can be taken as a given here. If Ablrate have done the basics right, we should have a call on assets. If Ablrate is as good as he thinks he is those assets should be realisable (albeit over a long time period). Sometimes radio silence is the best approach when things are at a delicate state of negotiations. However a bit of 'lift music' can be reassuring and it is the absence of that that concerns me currently. Clearly being doomed is also worth a thought.....
|
|
blueblazer
Member of DD Central
Posts: 61
Likes: 35
|
Post by blueblazer on Feb 7, 2022 8:01:14 GMT
Sometimes radio silence is the best approach when things are at a delicate state of negotiations. However a bit of 'lift music' can be reassuring and it is the absence of that that concerns me currently. First document was September 7th for a three month pause. Second document was December 3rd for a further three month pause.
Next document is due in less than a month by March 3rd at the latest.
The tension is palpable as to what the contents will be.
|
|
hubert
Member of DD Central
Posts: 188
Likes: 119
|
Post by hubert on Feb 7, 2022 8:35:45 GMT
Sometimes radio silence is the best approach when things are at a delicate state of negotiations. However a bit of 'lift music' can be reassuring and it is the absence of that that concerns me currently. First document was September 7th for a three month pause. Second document was December 3rd for a further three month pause.
Next document is due in less than a month by March 3rd at the latest.
The tension is palpable as to what the contents will be.
Rather than expecting a document, the wording implied 'repayments' would start after another 3 month period, which as you say is on March 3rd.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Feb 7, 2022 8:54:20 GMT
Sometimes radio silence is the best approach when things are at a delicate state of negotiations. However a bit of 'lift music' can be reassuring and it is the absence of that that concerns me currently. Not if the Ablrate lift music is Another one bites the dust. Or maybe the refurbished 4Close PortaPodule4-1 does not need a lift?
|
|
|
|
Post by overthehill on Feb 7, 2022 9:11:00 GMT
How about the Titanic Soundtrack in the lifts and replace all the chairs with deckchairs ?
|
|
blueblazer
Member of DD Central
Posts: 61
Likes: 35
|
Post by blueblazer on Feb 8, 2022 13:40:23 GMT
Rather than expecting a document, the wording implied 'repayments' would start after another 3 month period, which as you say is on March 3rd.
Definitely more documents. Good news or not??
|
|
|
|
Post by ladywhitenap on Feb 8, 2022 13:50:00 GMT
I feel it can be read possibly as intended or by cycnics as further jam tomorrow.
Personally I feel statements by Andrew F as having more credibility that many of those from the bearded one but we will start to see if I'm being too trusting in March when Jam is promised.
LW
|
|
|
|
Post by Badly Drawn Stickman on Feb 8, 2022 13:52:32 GMT
Rather than expecting a document, the wording implied 'repayments' would start after another 3 month period, which as you say is on March 3rd.
Definitely more documents. Good news or not??
I am guessing it is one document making a lot of appearances. Oddly just like 'lift music' in all aspects. Not much chance of spending it in the shops, but probably enough to buy a bit of time. So what about the cars loans?
|
|
|
|
Post by ladywhitenap on Feb 8, 2022 13:56:13 GMT
It is a single addendum covering 15 loans - possibly all the AF loans on the platform written by AF with only a short commentary on the end from ABL.
LW
|
|
hubert
Member of DD Central
Posts: 188
Likes: 119
|
Post by hubert on Feb 8, 2022 14:02:32 GMT
Definitely more documents. Good news or not??
I am guessing it is one document making a lot of appearances. Oddly just like 'lift music' in all aspects. Not much chance of spending it in the shops, but probably enough to buy a bit of time. So what about the cars loans?Thought they were AC loans !
|
|
tony9239
Member of DD Central
Posts: 101
Likes: 202
|
Post by tony9239 on Feb 8, 2022 14:10:15 GMT
It is a single addendum covering 15 loans - possibly all the AF loans on the platform written by AF with only a short commentary on the end from ABL. LW Nice of Mr F to put pen to paper and write to us directly. The "PS" from Ablrate is clearly an attempt at softening us up for there being no March payments. I think we are in for another 3 months of forebearance.
|
|
|
|
Post by Badly Drawn Stickman on Feb 8, 2022 14:18:43 GMT
I am guessing it is one document making a lot of appearances. Oddly just like 'lift music' in all aspects. Not much chance of spending it in the shops, but probably enough to buy a bit of time. So what about the cars loans?Thought they were AC loans ! They are, I was moving on to the next outstanding problem that badly needs an update.
|
|
GreenZero
Member of DD Central
The early bird may get the worm, but it's the second mouse who gets the cheese
Posts: 225
Likes: 318
|
Post by GreenZero on Feb 8, 2022 14:22:10 GMT
A very broad brush covering all loans.
As I read it, AF's priority is to complete the power projects. Loan repayments are noted and if there is money left over and other investors agree repayments will be made. The question for me is, how long will Abl be happy for the group to use their funds on the projects rather than repay their loans? The following points in the addendum made me not get too excited about repayments getting back to normal soon.
* Investors may not accept servicing of the loans is more important than completion of the project.
* Loan repayments will resume in March, funds allowing.
* Abl expect loan payments to restart in March, however note it may not be possible as matters may take longer.
* No mention of addition security
|
|
