blink
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Post by blink on May 10, 2018 19:16:21 GMT
I have a very small amount still invested in this loan and I voted against the offer due to the accured interest and the precedent that this would set. I have not received any notification as to the result of the vote and I can't see where on the platform the result has been posted. Could someone please point me to where I can see the vote outcome.
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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 May 10, 2018 19:27:13 GMT
I have a very small amount still invested in this loan and I voted against the offer due to the accured interest and the precedent that this would set. I have not received any notification as to the result of the vote and I can't see where on the platform the result has been posted. Could someone please point me to where I can see the vote outcome. on the loan page
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star dust
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Post by star dust on May 10, 2018 19:29:22 GMT
I have a very small amount still invested in this loan and I voted against the offer due to the accured interest and the precedent that this would set. I have not received any notification as to the result of the vote and I can't see where on the platform the result has been posted. Could someone please point me to where I can see the vote outcome. Open the loan page underneath the picture is a menu bar, and on the far right of the menu is a "Voting" sub-menu click on that and the result will come up.
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blink
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Post by blink on May 10, 2018 19:48:47 GMT
I have a very small amount still invested in this loan and I voted against the offer due to the accured interest and the precedent that this would set. I have not received any notification as to the result of the vote and I can't see where on the platform the result has been posted. Could someone please point me to where I can see the vote outcome. Open the loan page underneath the picture is a menu bar, and on the far right of the menu is a "Voting" sub-menu click on that and the result will come up. Got it..thank you. Couldn't access via my tablet. Laptop showing it ..
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Post by df on May 10, 2018 20:54:13 GMT
I'm not in this loan but I wonder who the independent auditor of this vote was? This is not a General Election or referendum  and Lendy is not obliged to follow the result of the vote.
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stokeloans
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Post by stokeloans on May 10, 2018 21:00:50 GMT
I'm not in this loan but I wonder who the independent auditor of this vote was? This is not a General Election or referendum and Lendy is not obliged to follow the result of the vote. Especially when they've got the result ass about face. Eurovision is upon us,Lendy nil point
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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 May 10, 2018 21:08:00 GMT
I'm not in this loan but I wonder who the independent auditor of this vote was? PwC That's why the result was from La La Land. After being fired from Oscars they are Moonlighting for Lendy but still handing out the wrong envelope.
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locutus
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Post by locutus on May 10, 2018 21:17:21 GMT
Vampire Squid. That's why the result was from La La Land. After being fired from Oscars they are Moonlighting for Lendy but still handing out the wrong envelope.
I thought Vampire Squid was Goldman Sachs and it was PwC that messed up the envelope at the Oscars. Anyway, you're certainly right about the result.
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empirica
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Post by empirica on May 10, 2018 21:24:24 GMT
I'm not in this loan but I wonder who the independent auditor of this vote was? This is not a General Election or referendum and Lendy is not obliged to follow the result of the vote. Quite. You can have all the independent auditors you like when you legally control 51% of the vote!
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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 May 10, 2018 21:26:22 GMT
Vampire Squid. That's why the result was from La La Land. After being fired from Oscars they are Moonlighting for Lendy but still handing out the wrong envelope.
I thought Vampire Squid was Goldman Sachs and it was PwC that messed up the envelope at the Oscars. Anyway, you're certainly right about the result.
oh yes wrong envelope 😀 Corrected
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michaelc
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Post by michaelc on May 10, 2018 21:55:23 GMT
I'm not in this loan but I wonder who the independent auditor of this vote was? This is not a General Election or referendum and Lendy is not obliged to follow the result of the vote. I guess I was just making the point as softly as I could that I can't see much reason to trust the counting. I'm not in this loan but I have a 5 figure sum locked up in Lendy in other loans. I think it might be in my best interests to be quiet and hope Lendy attract as many new lenders as possible but I've always found it hard to resist speaking my mind. I'll do my best to butt out of this thread from now on!
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Post by Badly Drawn Stickman on May 10, 2018 22:12:32 GMT
This is not a General Election or referendum and Lendy is not obliged to follow the result of the vote. I guess I was just making the point as softly as I could that I can't see much reason to trust the counting. I'm not in this loan but I have a 5 figure sum locked up in Lendy in other loans. I think it might be in my best interests to be quiet and hope Lendy attract as many new lenders as possible but I've always found it hard to resist speaking my mind. I'll do my best to butt out of this thread from now on! I can see your reasoning (I voted against, feeling a better deal was achievable, but can understand people voting for simply to get it done with), I doubt the vote has been rigged however. If you were going to rig it you would go for a legitimate majority, currently it is very open to debate.
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on May 11, 2018 7:27:46 GMT
I wonder if those lenders (like hazellend ) who voted to accept the offer realize the extent of what they are giving up. Lendy aren't displaying the full amount of interest and bonuses accrued, Lendy are only displaying the accrued interest on the capital outstanding, and the bonus is greater than the 2.5% displayed. Also note that the accrued interest and bonuses on PBL120R1, PBL120R2, PBL120R3 & PBL120R4 are not shown on the system, but still outstanding. To get the actual amount of interest and bonuses you are owed is complicated but I've made it easy. Simply take the amount of capital you still own in PBL120 (shown in "My Loans") and multiply it by 0.162616* to get the interest owed. The bonus is an additional 50% of your interest, although Lendy may try restricting the bonus to 180 days in accordance with their new T&C's, which weren't in force at the time the loan went negative, so stick to 50%. *The multiplication factor is only accurate for today. Caveat: this assumes you held the loan for the full term that it has been negative. |
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Post by charlata on May 11, 2018 8:29:18 GMT
Lendy have got themselves in a real mess here, and in so doing neglected their fidicuary duty to lenders. In an apparent panic to find funding for new loans, they are proposing to sell probably the best-secured loan in P2P; at a large discount. In bowing to investors who want to leave the platform they are screwing those who might stay. Genius.
The only sensible way to turn is to reopen the sm, paying 18% to investors who want to wait for repayment, and an exit for those who don't. If I was another P2P platform dealing in bridging loans ( ablrateandy MoneyThing fundingsecure ) I'd be looking at the opportunity for a publicity coup by taking an assignment over the loan at a premium to the current offer. Lendy wouldn't be too thrilled, but their arm could be twisted by making the offer public. Everyone would win. Well everyone but Lendy, who might at least learn that shooting yourself in the foot does tend to be painful.
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Post by mrclondon on May 11, 2018 11:23:37 GMT
All three charges against this borrowing company have been marked as "Satisfied" today (11th May 2018) at Companies House.
Charge 0001 dates from May 2015, and was the charge holder before Lendy, charges 0002 & 0003 are Lendy's (SS) from July 2016.
This seems way too quick to be in response to the recent vote, and may simply be an admin error (that happens not infrequently) on the part of a legal clerk told to tidy up historic entries in preparation for refinance (or in this case assignment of debt).
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and Lendy is not obliged to follow the result of the vote.
