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Post by rebull on May 12, 2018 5:58:20 GMT
Yesterdays update says the potential purchaser of the loan has reduced there offer. If i am reading this right, then Lendy should have no choice but to reject there offer and go with option 1
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SteveT
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Post by SteveT on May 12, 2018 6:34:13 GMT
Yesterdays update says the potential purchaser of the loan has reduced there offer. If i am reading this right, then Lendy should have no choice but to reject there offer and go with option 1 No, the full update says " The potential purchaser of the loan has reduced their offer and we have sought investor feedback regarding the two options we are considering, being either accepting the reduced offer or marketing the site on the open market for sale.", so the "reduced offer" presumably was the one put to a lender vote.
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sl75
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Post by sl75 on May 15, 2018 7:22:02 GMT
But which "option 1" are they supposed to be going with now - the option 1 during the vote (reject the offer), or the option 1 after the vote (accept the offer), after Lendy switched which option meant what. Question that Lendy don't seem to have addressed yet is did they just switch the labels, or did they also switch the votes over to match? i.e. were the slim majority actually in favour of the original option 1 (reject the offer), or the original option 2 which got mysteriously renumbered to option 1 after the vote had ended? More to the point what (if any) action are they now taking as a result? With such a split vote, a lot of people will be upset if they go ahead with either of the options unmodified; pursuing either option as it stands is guaranteed to be against the wishes of about half of those who voted. However, a slim margin can be relatively easily swung one way or the other, either by sweetening the deal (whether from the purchaser increasing their offer, or Lendy reducing their margin on this loan), or by allowing those who want their money back quickly another option to do so (e.g. as someone else suggested, re-enabling trading so that those who are of the opinion that a full recovery will be made with full interest and bonus credited can put their money where their mouth is, perhaps some may wish to repurchase an amount equivalent to what has already been repaid - effectively passing the partial repayment on to those who wanted out).
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invester
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Post by invester on May 15, 2018 7:52:19 GMT
It's an absolute sham.
Lendy saw fit to provide an estimate on the disposal time but not the proceeds - you would think that after getting in valuations that the latter would have been the easier to estimate.
Had they provided this information I don't think there is any question that people would have chosen to wait, based on how people voted.
Genuinely fear that accepting a haircut now will benefit Lendy in the short-term, but in the long-term they will suffer as more and more borrowers repeat this stunt. That is where lenders and Lendy's priorities diverge. A massive repayment now would be provide some relief for the platform.
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victors
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Post by victors on May 15, 2018 7:59:34 GMT
If this had been another platform, then I'm sure the majority would have voted to wait.
People see so many negative comments about Lendy and threads such as 'Is Lendy about to fail', that there reaction is to get out while they can.
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ptr120
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Post by ptr120 on May 15, 2018 8:08:31 GMT
How can I see how the vote went (i'm in this loan and voted to reject the proposal)
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ptr120
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Post by ptr120 on May 15, 2018 9:11:52 GMT
Thanks. It would seem clear that the vote went for option 1 - sell the debt for capital recovery only - albeit by a smaller margin than the BREXIT vote. Like the BREXIT vote this isn't binding. Am I missing something?
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ilmoro
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Post by ilmoro on May 15, 2018 9:25:45 GMT
Thanks. It would seem clear that the vote went for option 1 - sell the debt for capital recovery only - albeit by a smaller margin than the BREXIT vote. Like the BREXIT vote this isn't binding. Am I missing something? Yes, option 1 in the original vote was sell on the open market, so were the results changed, the options changed during the vote, or it just a typo/software glitch that automatically labels the winner as 1 even if it was 2.
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sl75
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Post by sl75 on May 15, 2018 9:52:56 GMT
Thanks. It would seem clear that the vote went for option 1 - sell the debt for capital recovery only - albeit by a smaller margin than the BREXIT vote. Like the BREXIT vote this isn't binding. Am I missing something? See the post from locutus earlier in this thread which contains screenshots showing both the options as they originally appeared on the voting slip, and the swapped options on the result summary: p2pindependentforum.com/post/266471
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Post by charliebrown on May 15, 2018 10:05:09 GMT
If this had been another platform, then I'm sure the majority would have voted to wait. People see so many negative comments about Lendy and threads such as 'Is Lendy about to fail', that there reaction is to get out while they can. I agree. I think all those who voted to exit this loan were people who actually want to exit the platform.
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macro
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Post by macro on May 15, 2018 10:07:07 GMT
Is there a poll where I can vote to exit the platform?
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hazellend
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Post by hazellend on May 15, 2018 10:19:24 GMT
If this had been another platform, then I'm sure the majority would have voted to wait. People see so many negative comments about Lendy and threads such as 'Is Lendy about to fail', that there reaction is to get out while they can. I agree. I think all those who voted to exit this loan were people who actually want to exit the platform. Or put money into another loan on Lendy
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ilmoro
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Post by ilmoro on May 15, 2018 10:21:18 GMT
Is there a poll where I can vote to exit the platform? I believe that is known as the SM. Unfortunately, its non-binding and turnout is very low due to apathy on the part of remainers and widespread disenfranchisement.
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macro
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Post by macro on May 15, 2018 10:32:07 GMT
Is there a poll where I can vote to exit the platform? I believe that is known as the SM. Unfortunately, its non-binding and turnout is very low due to apathy on the part of remainers and widespread disenfranchisement. So it is I must have confused the SM with S&M. Engaging with Lendy hurts.
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Post by trentenders on May 15, 2018 16:56:39 GMT
I agree. I think all those who voted to exit this loan were people who actually want to exit the platform. Or put money into another loan on Lendy You make me chuckle. I bet you smiled as you typed that
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