registerme
Member of DD Central
Posts: 6,208
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Post by registerme on Dec 21, 2023 15:12:06 GMT
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nyneil
Member of DD Central
Posts: 348
Likes: 435
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Post by nyneil on Dec 21, 2023 15:29:43 GMT
Assuming today's news is true it got me to thinking about defaulted loans or payments,companies in administration etc and that lead me to some articles about litigation finance.Now its suggested that its a great opportunity and almost a win-win investment (that's not advice from me!).I am no good at links but searching alts.co/litigation-finance-where-betting-meets-the-law (or alts.co/lending-to-law-firms) brings up stories about this and while there is no connection to Ablrate it still makes interesting reading about someone with experience of this side of business who i recognize almost a win-win investment. Yes, as safe as houses! Oh what am I saying? Incidentally, Money&co regularly list investments in litigation cases. This is not a recommendation, but so far there haven't been any defaults. DYOR!
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macq
Member of DD Central
Posts: 1,924
Likes: 1,192
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Post by macq on Dec 21, 2023 15:55:57 GMT
Assuming today's news is true it got me to thinking about defaulted loans or payments,companies in administration etc and that lead me to some articles about litigation finance.Now its suggested that its a great opportunity and almost a win-win investment (that's not advice from me!).I am no good at links but searching alts.co/litigation-finance-where-betting-meets-the-law (or alts.co/lending-to-law-firms) brings up stories about this and while there is no connection to Ablrate it still makes interesting reading about someone with experience of this side of business who i recognize almost a win-win investment. Yes, as safe as houses! Oh what am I saying? Incidentally, Money&co regularly list investments in litigation cases. This is not a recommendation, but so far there haven't been any defaults. DYOR! Now that highlighted portion does not say who gets the win-win!
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Mousey
Member of DD Central
Posts: 1,570
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Post by Mousey on Dec 21, 2023 16:43:26 GMT
An FCA spokesperson has told me that they are unable to comment on individual firms. I'm told that FCA consent to the appointment of insolvency practitioners is only required when the application to enter administration is made outside of court. And that FCA consent is not required when the application is being made through court. It's said the FCA will often be asked to review communications which firms heading into administration intend to issue to customers and other affected parties. When asked, they say they review quickly to ensure the communications are clear and accurate. They point out that any communications to investors would not usually be issued prior to a court decision and the appointment of insolvency practitioners. I'm told that more information can be found in their guidance for insolvency practitioners on how to approach regulated firms.
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GreenZero
Member of DD Central
The early bird may get the worm, but it's the second mouse who gets the cheese
Posts: 221
Likes: 313
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Post by GreenZero on Dec 22, 2023 9:08:35 GMT
I'm somewhat surprised this news hasn't featured in any online news sites. The linked loans, tangled web of companies and directors schenanigans surely would be of interest to an investigative journo?
Or, are they waiting for Dave's Christmas Card to arrive tomorrow like the rest of us?
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Post by Ace on Dec 22, 2023 9:15:01 GMT
I wonder if Fenchurch Legal would be up for crowdfunding a case against the worst of them!
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Post by scepticalinvestor on Dec 22, 2023 9:57:56 GMT
I'm somewhat surprised this news hasn't featured in any online news sites. The linked loans, tangled web of companies and directors schenanigans surely would be of interest to an investigative journo? Or, are they waiting for Dave's Christmas Card to arrive tomorrow like the rest of us? There's very little money in proper investigative journalism. It takes a huge amount of work and legal vetting compared to the kind of "news" that gets the clicks. I don't blame the media. The general public will voraciously consume 30 sec tiktak outrage videos and sensationalist opinion pieces inside their preferred echo chamber but can't be arsed to sit through and read an article that requires them to think, and don't ascribe the value proportionate to the work that goes into proper investigative journalism.
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Post by Ace on Dec 22, 2023 21:26:25 GMT
It seems odd that the platform is still functioning, with withdrawal payments coming through today and an admin update being issued for loan 156.
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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
Posts: 10,870
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Post by ilmoro on Dec 22, 2023 21:45:56 GMT
The application was filed ... has it actually been granted?
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Post by Ace on Dec 22, 2023 22:23:03 GMT
The application was filed ... has it actually been granted? Good point. It seems not, according to caseboard. I've no idea how long these things take, or how quickly caseboard is updated.
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Post by Badly Drawn Stickman on Dec 22, 2023 22:37:59 GMT
The application was filed ... has it actually been granted? Do the chicken entrails not suggest that even if is it not, the FCA will make it happen anyway?
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GreenZero
Member of DD Central
The early bird may get the worm, but it's the second mouse who gets the cheese
Posts: 221
Likes: 313
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Post by GreenZero on Dec 23, 2023 9:39:28 GMT
Email received....
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Post by wiseclerk on Dec 23, 2023 10:17:09 GMT
Is Kingston Smith still in?
Ablrate said in March 2018:
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dlefcoe
New Member
Posts: 4
Likes: 1
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Post by dlefcoe on Dec 23, 2023 10:28:27 GMT
With a heavy heart and deep regret ("a pina colada in my hand on the sunny beaches or Dubai"), I must share the news that Aviation and Tech Capital Limited, the owner and operator of Ablrate, is being into administration.
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benaj
Member of DD Central
Posts: 4,877
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Post by benaj on Dec 23, 2023 10:34:31 GMT
I got email 3 times this morning, very heavy in deed. Definitely, not not getting “happy holidays” from DBW🤣🤣🤣
I don’t expect much more from Ablrate after receiving Last Payment. I can’t see getting much back having £££ stuck in the platform for years.
Thank you for entertaining me all these years and didn’t make a loss for all these years. XIRR below 2%, but above 0%
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