Scot* E* (I*) Ltd

The latest update on this loan is truly priceless.  Apparently, in the face of continuing legal action, the company's CFO (for those who don't know their acronyms, that's Chief Fantasy Officer) has contacted ReBS claiming to believe that the loan was all along being repaid. 

Perhaps our esteemed member from north of the border, @magenta14 , could provide us with a pithy term, in the local parlance, for barefaced nerve of this high order.

We generally update you when there is something concrete to update you with but debt recovery process's move extremely slowly and often there is very little change month on month between courts, solicitors, accountants, insolvency service & practitioners, administrators and whatever other professionals are involved. However we appreciate we can do better, and there is a rolling programme of improvements and you should see some of those on the next few weeks or so.

One that we have already shared is the double up on here with both myself and wilko44 now fielding questions. 

Re latest update, very wise for Rebs to tread very carefully here. I do not trust anything this borrower says for a moment. Various previous statements have been proved blatantly false (they proved that themselves), and they appear to be willing to try anything to stave off a bankruptcy order.
All investors in this loan do of course hope that this really is an honest proposal, but I have a vision in my head of pink pigs flying over the moon. Please do prove me wrong SEI Ltd.

I equally do not trust this borrower to stick to any repayment plan, given the past record of failed promises.  But the additional security, and the involvement of an additional person standing behind the loan, improves the recovery outlook significantly, and I would be happy to give the borrower some leeway in return.  And for all our criticism of the softly softly approach Rebs takes on loan recovery, I take my hat off to Rebs in this case for extracting the offer of this additional security.

But ablender, the lenders voted to support Rebuilding Societies proposed action in a fair poll did they not?

Fair poll? Not in my opinion on this platform.
When you have large backers in many loans, some of which would not have completed without input from an international backer with some seeming interest in massively supporting the platform, and the number of votes being based on investment level and not on 1 investor 1 equal vote, then massive influence can be won over the outcome with a few calls. Pareto rules.

Maybe giving the small investor the same voice as anyone else would be a good development for finding the true feelings of the masses and acting accordingly.

Another one would be to scrap the incentive scheme, signalled on p2pmoney, where an investor can "pay 5% to get to the front of the queue for payouts" on defaulted loans.
Not really treating all lenders the same and it is not advertised in order to allow potential investors to make up their own minds about the fairness displayed by such an offering.
The process, and outcomes achieved to date, for payers of this fee are not displayed. Nor is the impact on the rest of investors.
One must draw your own conclusions on that one.

"P2P investing is HIGH RISK and you may lose all your money"

I do hope that the rush of greenhorn isa investors chasing massive rates understand the warnings.
Taking the "in recovery" figure and declared bad debt, from the download table on the statistics page, as the HMRC "irrecoverable" as a percentage of the loanbook on a platform as a guide, in the absence of clear definition of bad debt on this platform, may lead to these new investors avoiding a troubled future until "the FCA give clear guidance on the reporting of bad debt" (speech in Leeds by founder this week).

Time will tell.