SteveT
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Post by SteveT on Dec 6, 2015 21:13:31 GMT
No takers for the above question? I lent some money last year to a friend of mine to start a brewery and i have a debenture over a list of specific items. The moment he stops paying, I exercise my claim and sell or otherwise dispose of his kettle etc. So how come REBS are not immediately in the process of asserting their rights over "all assets" of this unhappy company? Peer2Beer lending! ... which hopfully will repay in full!
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baldpate
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Post by baldpate on Dec 7, 2015 19:01:15 GMT
Secured on a kettle? That loan must be pretty small beer - pint-sized even!
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Post by bracknellboy on Dec 7, 2015 21:54:25 GMT
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Post by captainconfident on Dec 8, 2015 12:39:09 GMT
I assure you that if my friend had planned to make beer in his Morphy Richards, I'd have been dubious.
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kaya
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Post by kaya on Dec 11, 2015 16:31:51 GMT
According to a post on the Rebs board, the borrower is eager to engage in communication with the lending community. I'm all ears...
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SteveT
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Post by SteveT on Dec 11, 2015 17:50:19 GMT
According to a post on the Rebs board, the borrower is eager to engage in communication with the lending community. I'm all ears... I'd prefer it if she'd just engage with her cheque book and pay what she owes.
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Post by captainconfident on Dec 11, 2015 17:53:59 GMT
Under the all assets debenture, REBS should immediately have moved to assert their rights to sell the stock of the company. After all, the loan description is explicit that the loan is to be used to buy stock.
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kaya
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Post by kaya on Dec 12, 2015 11:45:41 GMT
If I recall correctly, I think the implied story we were/are to believe is that the whole lot was spent on one single supplier who then went bust. Please forgive my scepticism. According to a recent post by Rebs, they basically seem to think that the assets debenture is of little value and not worth the expense to pursue. I think the whole loan was a rip-off, and the lovely revamped miserable website strengthens my suspicions. This borrower has never at any time engaged in any personal communication, and appeared to be evasive after the default. I would be surprised if she engaged now, but as mentioned above, a lot of waffle and verbage is of no value. If there was cash to launch the new website, then there was cash to make further repayments. Dear borrower, please do persuade us of your high intentions and ideals. Splash some cash!
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kaya
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Post by kaya on Dec 17, 2015 11:14:12 GMT
Good news! A rather jolly Christmas present is on its way. My empty sock is hanging up in anticipation...
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SteveT
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Post by SteveT on Dec 17, 2015 12:00:07 GMT
Good news! A rather jolly Christmas present is on its way. My empty sock is hanging up in anticipation... I'll believe her only when I have it in my hands. However it's encouraging there's still some faint prospect of jollier times ahead ...
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Steerpike
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Post by Steerpike on Dec 17, 2015 13:04:10 GMT
Not holding my breath, easy to find evidence of this entrepreneur seeking funds over the years from multiple other sources including Virgin, Kickstarter etc. and overlapping launches of all sorts of companies with an associated director repeatedly joining and leaving the board.
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kaya
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Post by kaya on Dec 17, 2015 17:13:33 GMT
Is 'entrepreneur' the right word to describe this person? Certainly enterprising in terms of thinking up ways to cadge cash off of unsuspecting mugs like me.
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Steerpike
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Post by Steerpike on Dec 17, 2015 17:15:28 GMT
Is 'entrepreneur' the right word to describe this person? Certainly enterprising in terms of thinking up ways to cadge cash off of unsuspecting mugs like me. Tongue was firmly in cheek. I do have other words but I don't want to be banned.
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kaya
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Post by kaya on Dec 17, 2015 17:21:29 GMT
Where do you discover interesting information like this?
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Steerpike
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Post by Steerpike on Dec 17, 2015 17:25:45 GMT
Standard web research using the (correctly spelt) name and various financial sites including Creditsafe
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