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Post by scores on Apr 27, 2016 22:17:41 GMT
There are some very Slippery Fish in this Scottish Boat Yard. Very characteristic of Norman Stanley Fletcher and Arthur Daley..Would not believe a single word uttered by any of them.
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Post by earthbound on Apr 27, 2016 22:25:20 GMT
There are some very Slippery Fish in this Scottish Boat Yard. Very characteristic of Norman Stanley Fletcher and Arthur Daley..Would not believe a single word uttered by any of them. hi scores see here .. p2pindependentforum.com/thread/4515/scottish-boat-yard-loanps.. and i agree with you completely
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Post by scores on Apr 28, 2016 9:30:37 GMT
Thanks for the reminder earthbound. That was so long ago I had forgotten I even posted that comment...This borrower certainly knows how to play the game..We will just have keep our fingers crossed I guess.
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Apr 28, 2016 14:13:55 GMT
There are some very Slippery Fish in this Scottish Boat Yard. Very characteristic of Norman Stanley Fletcher and Arthur Daley.. Or, considering its location, Mr Mackay?
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Post by earthbound on Apr 28, 2016 14:24:06 GMT
Thanks for the reminder earthbound. That was so long ago I had forgotten I even posted that comment...This borrower certainly knows how to play the game..We will just have keep our fingers crossed I guess. until i saw your reply i didn't realize that it was you who started the last boatyard thread,  i cannot see why FS have not pulled the plug on this one, i don't believe for one minute that this borrower is going to pay up despite all the bluster. Looking down the investor list there seems to be a good few recognizable names in there which may or may not be posters on the forum ,that will be like us and wondering what the heck is going on with this one.
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Apr 28, 2016 14:48:08 GMT
IIRC this loan had past history with another P2P provider. Can anyone remember who?
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 28, 2016 15:08:05 GMT
IIRC this loan had past history with another P2P provider. Can anyone remember who? Savingstream. It was in the pipeline but was delayed while borrower sorted out his SIPP but then disappeared altogether. Was another loan of a similiar type that mirrored it
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Apr 28, 2016 16:19:36 GMT
IIRC this loan had past history with another P2P provider. Can anyone remember who? It popped up on the SS pipeline briefly when it was getting close to renewal date, but was pulled. Is that what you mean? Yes possibly. Does sound somewhat familiar. Thanks for the steer. I wonder whether SS would be interested in the renewal this time?
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Post by earthbound on Apr 28, 2016 20:13:57 GMT
It popped up on the SS pipeline briefly when it was getting close to renewal date, but was pulled. Is that what you mean? Yes possibly. Does sound somewhat familiar. Thanks for the steer. I wonder whether SS would be interested in the renewal this time? If SS were to take the time of looking at the lengths this borrower has gone to , to not pay (all on FS sight) then they wouldn't touch it with a barge pole, in fact they have already bargepoled it in the recent past.
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09dolphin
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Post by 09dolphin on May 2, 2016 18:01:11 GMT
30/01/16. Expect payment (of interest) next week. 12/02/16. Expect payment next week of interest 29/04/16, Expect payment next week of interest Does anyone seriously expect interest to be paid next week?
I really do hope default proceedings have been initiated as per update on 26/02/16.
Even worse FS intend to renew the loan when interest paid!!!
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Post by earthbound on May 2, 2016 18:13:51 GMT
30/01/16. Expect payment (of interest) next week. 12/02/16. Expect payment next week of interest 29/04/16, Expect payment next week of interest Does anyone seriously expect interest to be paid next week?
I really do hope default proceedings have been initiated as per update on 26/02/16.
Even worse FS intend to renew the loan when interest paid!!!
It was an intent some time ago for FS to renew this loan, but that point is now long gone, various exit strategies are being investigated, FS obviously do not WANT to pull the plug on this one, IMO because of the dubious 90 day valuation, but i think the next week or so will be the deadline point, i reckon if the borrower does not come up with interest this week then FS will not have any more options open to them other than the inevitable default, and again IMO there will be losses with this one.... but always keep fingers crossed, you never know.
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09dolphin
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Post by 09dolphin on May 3, 2016 6:00:20 GMT
Payment will only be for interest according to the update. Last update confirmed they are seeking refinance but not that they had obtained refinance.
My understanding is that investors will have no choice but to continue to fund this loan.
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mikes1531
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Post by mikes1531 on May 3, 2016 10:25:55 GMT
Payment will only be for interest according to the update. Last update confirmed they are seeking refinance but not that they had obtained refinance.
My understanding is that investors will have no choice but to continue to fund this loan. Normally when FS receive the interest due on a maturing loan they consider the follow-on loan to be a renewal, and whether a lender's investment in the maturing loan is rolled forward or repaid would depend on whether or not they have the 'Renew?' box ticked on their list of active investments. In this case, however, ISTM that most investors are unlikely to have that box ticked at this time. (No doubt FS can see exactly how much of the original investment currently is set to roll forward.) So FS could struggle to find enough other investors to take up the parts of the non-renewing investors in view of the history of this loan/borrower. As a result, FS might decide to do something different with this loan.
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09dolphin
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Post by 09dolphin on May 3, 2016 11:13:29 GMT
I think FS are relying on full payment but I have my doubts as they only feel confident that the interest will be received.
Investors will be reassured that an administrator has not been appointed because FS are "confident" the loan will be repaid and they have a "person" at FS managing the loan. FS did say that default proceeding had been issued but, for reasons best known to FS and which they choose not share. they have obviously chosen to suspend the default process.
FS refuse to say exactly how long they will wait for the interest payment before they will take any action (because of their confidence in the borrower).
This is what I have been told today by "Daisy" in their online chat service
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Post by earthbound on May 3, 2016 11:31:26 GMT
09dolphin You did better than i did, i tried the the same daisy a few weeks back, when the 45 day wait was up, from the sale of a "business" and was told there was no updated info available, other than what can be seen on the FS website... But i will stay confident and hope that FS can resolve this without a default. <fingers crossed>
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i cannot see why FS have not pulled the plug on this one, i don't believe for one minute that this borrower is going to pay up despite all the bluster. Looking down the investor list there seems to be a good few recognizable names in there which may or may not be posters on the forum ,that will be like us and wondering what the heck is going on with this one.
