james
Posts: 2,205
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Post by james on Jul 28, 2015 8:15:26 GMT
If you don't get it done for 10 please choose to delay a full day rather than having an unknown time today. That's partly to be kind to people who will want to get their money in place and partly to be kind to those who work nights but who do want to invest, so they don't have to be up all day on the off chance that something might or might not happen.
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Post by meledor on Jul 28, 2015 8:29:18 GMT
Even if it is delayed beyond 10 I am working on the basis that the deal will be happening today at some stage. I have made time to be around today and if it is not going to happen the sooner we know the better.
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Post by ablrateandy on Jul 28, 2015 8:52:21 GMT
It is going up at 10am.
We understand the concerns that some people have over the late filing of his accounts, so as a measure to perfect security, Ablrate Assets Ltd are buying the containers and will retain legal ownership until we have a charge registered at Companies House over the specific containers. This is done by a specific set of registration numbers (which I do have already but want to be 100% sure!). At this point, they will be released legally to C******* C****** but with us keeping a charge until we are paid out.
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james
Posts: 2,205
Likes: 955
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Post by james on Jul 28, 2015 9:03:36 GMT
Not just going up but up and 74.8% full at the moment.
If anyone gets told that you can't invest more than your available funds, it's because the Dashboard rounds your balance so sometimes it'll round up to the nearest penny. Reduce your bid by a penny and it should go through.
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Post by meledor on Jul 28, 2015 9:28:22 GMT
It is going up at 10am. We understand the concerns that some people have over the late filing of his accounts, so as a measure to perfect security, Ablrate Assets Ltd are buying the containers and will retain legal ownership until we have a charge registered at Companies House over the specific containers. This is done by a specific set of registration numbers (which I do have already but want to be 100% sure!). At this point, they will be released legally to C******* C****** but with us keeping a charge until we are paid out. OK I've taken a small amount. I appreciate the asset security but as arbster pointed out there isn't a lot of margin here, so there are still risks around the impact of the costs of enforcing the charge if required.
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Post by sleepybear on Jul 28, 2015 9:41:32 GMT
Last chance...going...going...
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Post by sleepybear on Jul 28, 2015 10:02:43 GMT
...gone (except for the last £1.29)...
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Post by ablrateandy on Jul 28, 2015 12:24:43 GMT
Done, docs signed, BACS transfer en route to the container manufacturer, security in place and your loans are now accruing interest and tradeable on the secondary market!
Thanks all for your support!
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Post by wiseclerk on Jul 28, 2015 13:09:11 GMT
Andy, what about the aircraft loan? That one has been stalling forever?
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james
Posts: 2,205
Likes: 955
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Post by james on Aug 9, 2015 18:48:25 GMT
For anyone who doesn't have the other shipping containers loan to C*******, that one had its first interest payment credited promptly today.
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stevio
Member of DD Central
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Post by stevio on Sept 3, 2015 18:28:35 GMT
Just looking at this on the secondary market, but can't see why it was so attractive?
At the pre-arranged sale price of £70,250 it is 93% LTV
At highest sale price of £80,000 it is 81% LTV
Not much LTV if miss valued and have to sell security
Additionally presume would have to pay for transport of security to UK for sale if not already here
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Post by ablrateandy on Sept 3, 2015 18:37:45 GMT
These fellas are brought over from China as part of a package - C******* order them and simultaneously arrange shipping with a company that use them on the way over so we don't have to worry about them getting into the country. They are "one trippers". If C******* went bang whilst they are coming over, the shipping company would still deliver our security to "a UK port" because the containers are coming here anyway.
There's a pretty good liquid market on these things and I am very, very comfortable with the valuation. I have done some research into it and reckon that you could get rid of them very quickly. On the first deal 30/50 were pre-sold (and now all 50 are) and on the second deal all 50 were pre-sold. The deals are essentially invoice finance.
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