macq
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Post by macq on Aug 11, 2022 10:03:11 GMT
Looking at the wind down plan or at least what is the version that can be referenced by the Abl home page under FAQ - have i understood correctly the last part where it says basically H****E C*****L will take over the running/running down of Abl? Which has confused me as i thought H****e was partly owned by ABL (or A*F)?
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Post by Ace on Aug 11, 2022 10:39:36 GMT
Looking at the wind down plan or at least what is the version that can be referenced by the Abl home page under FAQ - have i understood correctly the last part where it says basically H****E C*****L will take over the running/running down of Abl? Which has confused me as i thought H****e was partly owned by ABL (or A*F)? The way I read it is that HC have first dibs on taking over or purchasing the business if ABLrate decide to give up winding down themselves. But for now ABLrate are content to perform the wind down. Presumably there is currently sufficient income from performing loans and anticipated recoveries to cover the reduced platform costs. There may well come a time when income from the remaining troublesome loans is insufficient to cover costs. At such a time I would expect administration to be the most likely outcome rather than HC taking over, but pure speculation at this point.
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macq
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Post by macq on Aug 11, 2022 11:36:14 GMT
Looking at the wind down plan or at least what is the version that can be referenced by the Abl home page under FAQ - have i understood correctly the last part where it says basically H****E C*****L will take over the running/running down of Abl? Which has confused me as i thought H****e was partly owned by ABL (or A*F)? The way I read it is that HC have first dibs on taking over or purchasing the business if ABLrate decide to give up winding down themselves. But for now ABLrate are content to perform the wind down. Presumably there is currently sufficient income from performing loans and anticipated recoveries to cover the reduced platform costs. There may well come a time when income from the remaining troublesome loans is insufficient to cover costs. At such a time I would expect administration to be the most likely outcome rather than HC taking over, but pure speculation at this point. Thanks - I was looking at it as more then first dibs due to the first line being "H****e C*****L have committed to" - which sounds more like will rather then may? Also the first sections before the H****e part mention a wind down could involve a transfer/sale to another "entity/owner" which i assume would be better for Abl in the long run? And then goes onto mention 1.making up a short fall 2.negotiate a purchase 3.purchase the loan book.But i guess it could be as you say a back up but i can't see it mentioned as a back up plan (but will reread in a while)
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hubert
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Post by hubert on Sept 12, 2022 7:09:45 GMT
The missed payments with red dots appear to be a lot shorter for some reason.
Not sure if there are more entries per page.
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brianlom1
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He's not the Messiah, he's a very naughty boy!
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Post by brianlom1 on Sept 12, 2022 7:44:16 GMT
Didn't the last update say more loans had been defaulted?
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hubert
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Post by hubert on Sept 12, 2022 7:57:10 GMT
Didn't the last update say more loans had been defaulted? Your right. Just checked my tax statement to find around 50% of funds defaulted.
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Balder
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Post by Balder on Sept 12, 2022 8:30:24 GMT
So it appears that all the ACI loans have been defaulted except for 114 ACIVIII. Why? Or probably an admin error?
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blender
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Post by blender on Sept 12, 2022 10:12:00 GMT
All my loans that originated with Mr F have been defaulted this FY. In an ISA and so no tax benefit. It does crystalise his liability under the PG.
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r1200gs
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Post by r1200gs on Sept 12, 2022 10:16:47 GMT
All my loans that originated with Mr F have been defaulted this FY. In an ISA and so no tax benefit. It does crystalise his liability under the PG. Has anybody ever seen somebody honour a personal guarantee? I haven't, in every single case it has turned out to be worth about as much as the paper it was written on. I suppose there must be exceptions, probably.
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blueblazer
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Post by blueblazer on Sept 12, 2022 10:58:02 GMT
So it appears that all the ACI loans have been defaulted except for 114 ACIVIII. Why? Or probably an admin error? 114 was showing active but seems to be defaulted now.
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blueblazer
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Post by blueblazer on Sept 12, 2022 11:01:55 GMT
All my loans that originated with Mr F have been defaulted this FY. In an ISA and so no tax benefit. It does crystalise his liability under the PG. 87, 92, 99, 118 and 119 still showing active for me.
Are there any benefits to defaulting loans for an ISA apart from the PG thing mentioned?
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ilmoro
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Post by ilmoro on Sept 12, 2022 12:55:29 GMT
All my loans that originated with Mr F have been defaulted this FY. In an ISA and so no tax benefit. It does crystalise his liability under the PG. Has anybody ever seen somebody honour a personal guarantee? I haven't, in every single case it has turned out to be worth about as much as the paper it was written on. I suppose there must be exceptions, probably. Yes, AC, FK & Lendy have all had PG recoveries.
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blender
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Post by blender on Sept 12, 2022 17:03:54 GMT
And FC
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Post by df on Sept 13, 2022 9:44:31 GMT
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hubert
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Post by hubert on Sept 13, 2022 16:24:11 GMT
Most of the loans that show as defaulted in 2022/3 tax year, actually defaulted in 2021/2 tax year. Therefore if ablrate had done this correctly, those that paid tax for 2021/2 tax year, could have had this sum set against their tax bill. In some cases the tax bill could have reduced to £0 with the surplus used to set against future years. Am I right. Can HMRC be persuaded ? Is there a work around on this ?
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