adrian77
Member of DD Central
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Post by adrian77 on May 22, 2022 12:54:09 GMT
exactly - how many of these "bust" borrowers are laughing at us - IMHO development is all about cashflow i.e borrowing money and repaying it over as long a time period as possible whilst other developments bear fruit - or even better not repaying the money at all! With FS I just wonder if we have had experienced scammers scamming amateur scammers - at the moment I just don't know what the hell is going on with FS which for a FCA regulated company is ridiculous
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Post by brummiefred on May 23, 2022 8:30:23 GMT
From P2P Finance News by recent email FundingSecure’s administrator has received payments owed by one of the peer-to-peer lender’s former directors but is still in discussions with another executive. A progress report from CG&Co, which has been managing the administration of the collapsed lender since October 2019, said R***** L******* has now made a payment towards his director’s loan account of £87.7m. (My bold)
His directorship ended in 2018. N***** H******, who is still listed as a director, had made an offer of settlement for what he owes but CG&CO said this was rejected and the matter is ongoing. No counteroffer has been made since the rejection of H******’s original attempt, CG&Co said. The report said £3.9m of loans had been recovered between 23 October 2021 and 22 April 2022, taking the total to £40m. The administrator said 68 loans remain in default worth £33.4m. Can this loan account figure be correct? ?
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Mousey
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Post by Mousey on May 23, 2022 9:09:49 GMT
Can this loan account figure be correct? ? No, it's not
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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 May 23, 2022 11:19:53 GMT
Can this loan account figure be correct? ? No, it's not From insolvency to solvency at the touch of a key :-)
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adrian77
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Post by adrian77 on May 24, 2022 11:19:27 GMT
it is £87.8K not m - IMHO the directors should never have taken out a company loan in the first place - yes I know this may well have been legal but there are strict laws around this and it is something my accountant advises me not to do...
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