AF Loans (ABL)

Completely understand what you're feeling and I was tempted to take the same action. However, upon reviewing my tradable holdings, the underlying risk profile for many of my loans is extremely favourable even in default. Whilst the primary deficiency in Lendy/FS (and to a much lesser degree MT) was completely unrealistic valuations of development projects, I don't feel this to be the case with Ablrate (at least not with the loans I've selected).

Additionally, Lendy & FS had massive corporate governance issues and outright fraud at the highest levels. Call me foolish but I trust Ablrate not to be tarred by that particular brush.

Ablrate should have undertaken a market test of the Rofewoper assets as they stand, without future development, to assure us that 75% of the assets & existing securities would be in excess of the £5.7m owed to lenders, rather than a valuation when the development is completed. 

The extra security using the excess of 25% on 111 & 50% on 113 over & above the current security, has been used to offset the security of the remaining loans.

I am unsure whether to be positive or negative as it currently stands.

Hope for a more positive outcome on the Bellweing loans; and the others.

I am two thirds in the holiday park and one third in the batteries and so I am really waiting for the holiday park before saying much. However:
I am surprised that people do not seem to remember the number one rule of Ablrate communications, that you must at least double the timescale of positive predictions to convert from Ablrate days to Earth days. So when they say a three month holiday you know it is going to be at least six. Another three months predicted is worrying.
I take some comfort from the fact that the whole of this recovery endeavour suggests that Ablrate believes the underlying businesses to be viable, including repayments, and that the issue is one of finance only. So they have not at this stage defaulted the loans, they insist on the management running the business rather than the financing, they take most of the business hostage as presumably valuable security, and they focus on repayments from the business rather than going straight to the guarantor to produce cash or assets at this stage. The guarantee is still there on these loans and, unlike the AC loans, there will still be the opportunity to obtain the pound of flesh if we need to - which I hope we do not.
Also this strategy of supporting the borrowers allows the interest to be capitalised and the loans, in due course, to be traded. Personally I would prefer to rely on exit via trading rather than forcing this to asset sales and having to make do with what the vultures have left. 
AF's main error, with hindsight, was to rely on Greenswill, and he is in good company. I am sore with Abl about 165, but I am sure that Abl and AF will be keen to set things right, or as right as can be achieved. If we shoot Ablrate we are all stuffed. This is not Funding Suckers.
Having said that, I might explode when I hear more about the holiday park loans.

Yes, when (if they ever do) AF loans rejoin ASMX they will be offered at a substantial discount. I don't think I will be purchasing...