|
|
Post by GSV3MIaC on Sept 6, 2017 15:57:02 GMT
"A real paper" .. MoS?? Ok, I admit to reading the Saturday one for the TV coverage, but news-wise it's comical ..
8>.
|
|
ianj
Member of DD Central
Posts: 656 
Likes: 520
|
Post by ianj on Sept 6, 2017 16:21:21 GMT
Article in a local paper concerning the "temporarily liquidation" of borrower's companies drew the following response from a reader....... Ah, that sense of déjà vu.........yet again!  |
|
GeorgeT
Member of DD Central
Posts: 1,322
Likes: 1,576
|
Post by GeorgeT on Sept 6, 2017 21:34:48 GMT
Article in a local paper concerning the "temporarily liquidation" of borrower's companies drew the following response from a reader....... Ah, that sense of déjà vu.........yet again! I didn't know C_D posted comments on newspaper websites 
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
|
Post by ilmoro on Sept 6, 2017 23:03:10 GMT
Article in a local paper concerning the "temporarily liquidation" of borrower's companies drew the following response from a reader....... Ah, that sense of déjà vu.........yet again! I didn't know C_D posted comments on newspaper websites He cant as he's currently working in promotions for the FCA and their rules dont allow it
|
|
|
|
Post by martin44 on Sept 6, 2017 23:10:52 GMT
Article in a local paper concerning the "temporarily liquidation" of borrower's companies drew the following response from a reader....... Ah, that sense of déjà vu.........yet again! I didn't know C_D posted comments on newspaper websites He'll (might) be back.
|
|
|
|
Post by scepticalinvestor on Sept 24, 2017 22:12:53 GMT
The recent Telegraph article on Lendy talking about this says they've received an offer of £3m against an asking price of £4m.
|
|
mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
|
Post by mikes1531 on Sept 25, 2017 2:32:18 GMT
The recent Telegraph article on Lendy talking about this says they've received an offer of £3m against an asking price of £4m. IIRC, the article quoted a Lendy person as saying they had received offers [plural] in excess of the total amount lent and that their advisers were confident those should provide enough proceeds to settle lenders principal in full. Since the loans total a bit more than £3.7M, ISTM that the offers accepted would have to be at least £4M in order to have £3.7M left after all the costs of the recovery are paid. But that's JMHO.
|
|
GeorgeT
Member of DD Central
Posts: 1,322
Likes: 1,576
|
Post by GeorgeT on Oct 13, 2017 13:54:46 GMT
Yes, the latest update suggests that, sadly, the offers in excess of lenders’ principal that LY were able to mention to the Telegraph 2 weeks ago are no longer on the table and they have now instructed a 3rd party to undertake a review of the property to determine the best way to maximise the value with a view to getting higher offers. Oh well. These things can happen.
|
|
am
Posts: 1,495
Likes: 601
|
Post by am on Oct 13, 2017 20:11:49 GMT
There is mention of a press report relating to these properties on the The House Crowd board. Googling finds a press release on the same topic from The Insolvency Service on gov.uk. It doesn't make happy reading.
|
|
jonah
Member of DD Central
Posts: 2,031
Likes: 1,113
|
Post by jonah on Oct 14, 2017 8:44:51 GMT
There is mention of a press report relating to these properties on the The House Crowd board. Googling finds a press release on the same topic from The Insolvency Service on gov.uk. It doesn't make happy reading. Understatement of the month. These loans looked ‘challenging’ at best historically... now it looks several grades worse than that. I really hope that the PF is feeling robust as I suspect it will need to be to provide lenders with a reasonable outcome. Good luck to everyone in these loans.
|
|
bugs4me
Member of DD Central
Posts: 1,845
Likes: 1,478
|
Post by bugs4me on Oct 14, 2017 9:03:44 GMT
There is mention of a press report relating to these properties on the The House Crowd board. Googling finds a press release on the same topic from The Insolvency Service on gov.uk. It doesn't make happy reading. Understatement of the month. These loans looked ‘challenging’ at best historically... now it looks several grades worse than that. I really hope that the PF is feeling robust as I suspect it will need to be to provide lenders with a reasonable outcome. Good luck to everyone in these loans. Think the PF is going to need to be more robust than just robust after reading the report. It does though demonstrate the LY claim of 'extensive' and 'in-depth' DD prior to making loans on behalf of lenders look ridiculous. The historical side of these borrowers was in the public domain so again the claim made by LY that borrower's backgrounds is irrelevant is nonsensical. Doubt if they (LY) will learn anything from it though IMO in the rush to list loan 'opportunities'.
|
|
seeingred
Member of DD Central
Posts: 470
Likes: 664
|
Post by seeingred on Oct 14, 2017 9:19:33 GMT
If you think the Gloucestershire loans look bad wait for I*** of W**** where there is an alleged 75% fall in value and no explanation from Lendy yet forthcoming. That was a loan for £3.25 million. Once costs and fees have been deducted from any recovery the Gloucestershire loans (however they turn out) might look rosy in comparison.
There seems little doubt the PF will soon become exhausted and may well cease to exist. The only question is which loans (and which lucky investors) will be in line to benefit.
Please form an orderly queue.
|
|
elliotn
Member of DD Central
Posts: 3,064
Likes: 2,681
|
Post by elliotn on Oct 14, 2017 9:21:55 GMT
Do we have to asterisk the name of a whole island? (Rhetorical, I know there’s a button if I really want to know!) |
|
|
|
Post by GSV3MIaC on Oct 14, 2017 17:10:46 GMT
It depends on how you rate Google's psychic skills I guess. In the foreseeable future I doubt they can turn 'Isle of Wight' into an identified Asset/borrower, but by the time you can travel there by Hyperloop, who knows? 8>.
|
|
|
|
Post by dan1 on Oct 14, 2017 19:09:34 GMT
Do we have to asterisk the name of a whole island? (Rhetorical, I know there’s a button if I really want to know!) Nobody knows
|
|
