Does anyone understand the calculations for 3203339975 (FS)
Nov 29, 2023 21:21:11 GMT
ozboy and mah like this
Post by overthehill on Nov 29, 2023 21:21:11 GMT
Land in H*** - loan 660k
Look at the carnage and charges gouging for this loan, I imagine typical of many loans yet to be recovered.
An unknown indemnity sum which I can see no prior trace of in the updates doesn't even warrant an '*'. It should be a smiley for gobsmacked.
Total Received £620,000.00
Less:
Legal Fees -£32,500.00
Insurance -£3,433.64
Receivers Fee -£12,400.00
Receivers Disbursements (Vatable) -£87.00
Agents Fees -£16,700.00
Agents Disbursements (Vatable) -£1,445.00
VAT (Irrecoverable) -£12,626.40
Total Costs -£79,192.04
Net Receipts £540,807.96
Less CG Fees 2.5% +VAT -£16,224.24
Expense Contribution* -£27,040.40
Indemnity Sum -£40,560.60
Settlement ** -£131,145.93
Balance to Disburse £325,836.80
* This is the sum as agreed with the Creditor’s Committee in respect of the ongoing expenses of the Administration and in furtherance of the previous resolutions of 17 December 2019 and 6 February 2020
** Following discussions with the Creditors’ Committee, at present we are holding the settlement figures pending the receipt of additional advice
Please note that the above calculation is being provided for illustrative purposes only and is subject to change. The final sum available to Investors will be confirmed in due course, once funds are able to be released back to Investors. It is not possible to move funds at this stage as part of the above loan post dates 12 April 2019
Less:
Legal Fees -£32,500.00
Insurance -£3,433.64
Receivers Fee -£12,400.00
Receivers Disbursements (Vatable) -£87.00
Agents Fees -£16,700.00
Agents Disbursements (Vatable) -£1,445.00
VAT (Irrecoverable) -£12,626.40
Total Costs -£79,192.04
Net Receipts £540,807.96
Less CG Fees 2.5% +VAT -£16,224.24
Expense Contribution* -£27,040.40
Indemnity Sum -£40,560.60
Settlement ** -£131,145.93
Balance to Disburse £325,836.80
* This is the sum as agreed with the Creditor’s Committee in respect of the ongoing expenses of the Administration and in furtherance of the previous resolutions of 17 December 2019 and 6 February 2020
** Following discussions with the Creditors’ Committee, at present we are holding the settlement figures pending the receipt of additional advice
Please note that the above calculation is being provided for illustrative purposes only and is subject to change. The final sum available to Investors will be confirmed in due course, once funds are able to be released back to Investors. It is not possible to move funds at this stage as part of the above loan post dates 12 April 2019