GreenZero
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The early bird may get the worm, but it's the second mouse who gets the cheese
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Post by GreenZero on Jun 22, 2022 10:52:57 GMT
Twenty five thousand pounds And here is a thought. What if this "Therefore we have been working with the Company looking at alternative ways that the debt could be traded, if the Loan Exchange is not online in the short term. We will be updating lenders as progress is made on this, but the borrower is seeking to have its debt tradable as soon as possible and, of course, we are willing to facilitate whatever is required to make that happen where security and commitments remain as they are." manifests as AF (or the as yet unidentified new financier) bidding for the debt at, say, 9p in the pound... "bidding for the debt at, say, 9p in the pound..." Yeah - not going to happen. Calm down.....Repay 9p in th £1, thats a bit strong, Mr F nearly choked on his Brugerolle 1795 at the mention of that outrageous rate. He'll stay as he is, happy repaying nothing and taking out more loans... like #94
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Post by ablrate on Jun 22, 2022 16:02:22 GMT
"bidding for the debt at, say, 9p in the pound..." Yeah - not going to happen. "bidding for the debt" or "at, say, 9p in the pound" does your Yeah - not going to happen apply to both elements of that? If the debt becomes tradable then there will be bidding as part of that trading, it is up to holders to decide whether they accept bids. I have posted elsewhere on our opinion ref accepting low bids.
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Post by Badly Drawn Stickman on Jul 14, 2022 18:53:14 GMT
The full accounts were rejected as the accountant made an error on a date (i.e left off a '1' in 2021), The FD filed the account online in short form to make the deadline, he will be resubmitting. If you are interested 20-21 was £1.5mn in revenue and £97k in profit. Just mildly curious if the full accounts, with the '1' added, have been resubmitted already? Mildly curious seems not to be getting ablrate to leave the hole in the skirting board currently. Stronger smelling cheese along the lines of 'we are all doomed' and the 'end is nigh' have got glimpses of whiskers and cries of nonsense. I am sure if a loan needs filling the shyness will mysteriously disappear.
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Balder
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Post by Balder on Aug 26, 2022 9:21:39 GMT
The full accounts were rejected as the accountant made an error on a date (i.e left off a '1' in 2021), The FD filed the account online in short form to make the deadline, he will be resubmitting. If you are interested 20-21 was £1.5mn in revenue and £97k in profit. On 18 Jun, the FD / Accountant were already on with editing the accounts to add a '1' to the date & resubmitting the full accounts that had been rejected for want of that single digit. Maybe that has been done and the resubmitted full accounts are sat in a pile at CH awaiting processing. Or maybe not. It doesn't really matter in the overall picture now, but it currently looks as if it could end up being another thing that DBW said would happen, had in his own control to make happen and that didn't happen. IMO that is not really the best look for someone who hopes more people will trust him with their money in the future. He has already passed that point with me. He has failed to deliver on his own set expectations again and again even with the latest email promised updates on individual loans have not appeared. let us all hope he doesn't turn out to be related to Liam Brookes!
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Balder
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Post by Balder on Aug 26, 2022 17:07:53 GMT
when you email DBW now you get an out of office return saying he will be back in the office 25th (yesterday).
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tony9239
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Post by tony9239 on Oct 5, 2022 15:05:23 GMT
Has anybody tried to withdraw cash from ABL this week?
I put in a request on Monday which was acknowledged, but no payment received. Normally they process payments on a Tuesday and Friday. Doesn't look good to me.
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Post by Ace on Oct 5, 2022 16:05:47 GMT
I received a call to verify it was me after withdrawing this morning's returns. Not in bank yet, but someone is obviously in the office processing them.
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ganymede
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Post by ganymede on Oct 5, 2022 21:03:52 GMT
Has anybody tried to withdraw cash from ABL this week? I put in a request on Monday which was acknowledged, but no payment received. Normally they process payments on a Tuesday and Friday. Doesn't look good to me. I put a withdrawal request in on Fri 30th Sep, email on 3rd Oct to say processed, then arrived in bank on the 4th Oct. So in office processing withdrawals on Mon 3rd, might just be a backlog of withdrawals to get through, and not many staff left to deal with them.
I did a withdrawal today (5/10/2022), that hasn't been processed today. Expect it will be processed when they are next in the office to deal with the next batch.
Received email to say processed yesterdays withdrawal request. - 6/10/2022 Check bank account this morning and withdrawal has arrived. - 7/10/2022
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Post by Ace on Dec 16, 2022 19:31:02 GMT
After many years of fruitless asking and promising to tidy up the dashboard for the likes of the brewery loan, ABLrate are finally going to implement the "written off" category. Sounds ominous.
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dh1
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Post by dh1 on Dec 16, 2022 20:11:05 GMT
Shouldn't worry, Ace. Nothing has continued to happen on so many issues - despite avowed intentions and similar so I doubt this will be any different!
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Post by Badly Drawn Stickman on Jan 25, 2023 18:34:43 GMT
So just received my two copies of the quarterly(?) update.
Hmmmm..............
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GreenZero
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The early bird may get the worm, but it's the second mouse who gets the cheese
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Post by GreenZero on Jan 25, 2023 19:24:08 GMT
Quite shocking really.
Typically a meeting arranged for a week after this update and little to no mention of payments restarting or assets being used to settle loans.
Having read the email a few times, I believe DBW is treating ABL as a business consultancy firm. His loyalties and interest appear to now be firmly with the borrowers in ensuring they keep trading and are able to raise further funds for their liquidity.
I am of the opinion DBW/ABL have conflict of interest with ASMX, regardless of the latter now being a Gibraltar company.
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dh1
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Post by dh1 on Jan 25, 2023 20:22:51 GMT
I'm clearly special Badly Drawn Stickman - I got 4 updates. Anyone want my spare copies? Going cheap...
The "updates" themselves are, sadly, exactly par for the course with ABL. This is demonstrated (for example) by 94 - Air C. The situation is pretty much as it has been for months; why are we "looking at other potential solutions" - just flog the thing!
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Post by Badly Drawn Stickman on Jan 25, 2023 20:31:46 GMT
I'm clearly special Badly Drawn Stickman - I got 4 updates. Anyone want my spare copies? Going cheap...
The "updates" themselves are, sadly, exactly par for the course with ABL. This is demonstrated (for example) by 94 - Air C. The situation is pretty much as it has been for months; why are we "looking at other potential solutions" - just flog the thing!
Hopefully you didn't read them all. I read both anticipating the second to have the bits so clearly missing in the first only to find them identical. I think a DDc thread may be necessary as I am not inclined to post my views on them publicly in case they prove detrimental to us. They do however mostly agree with those to date, and go a bit beyond.
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blender
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Post by blender on Jan 26, 2023 14:57:10 GMT
A DDC thread allows more to be said, but it's still public. Those who cannot gain access overtly will have friends who can - if they can be bothered. I would not say anything there which would disadvantage me if said here.
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