ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,214
Likes: 11,406
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Post by ilmoro on Jan 8, 2019 12:16:04 GMT
WE ARE THE BORG! Unimatrix One has detected a primitive electronic communication alerting it that the statement of affairs has been provided for viewing at the location termed Companies House. THIS FORUM WILL NOT BE ASSIMILATED
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Mousey
Member of DD Central
Posts: 1,585
Likes: 6,674
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Post by Mousey on Jan 8, 2019 14:52:26 GMT
£9.5 Million of the debt to Lendy listed in the statement as unsecured! Only 500k listed as secured.
Can Lendy please confirm this is incorrect!
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jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,792
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Post by jonno on Jan 8, 2019 15:09:29 GMT
£9.5 Million of the debt to Lendy listed in the statement as unsecured! Only 500k listed as secured.
Can Lendy please confirm this is incorrect!
Apparently the borrower has described his statement as a variation on the "Balkan Gambit"
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dApps
Posts: 91
Likes: 80
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Post by dApps on Jan 8, 2019 15:23:42 GMT
£9.5 Million of the debt to Lendy listed in the statement as unsecured! Only 500k listed as secured.
Can Lendy please confirm this is incorrect!
That is a concern. I'm just not sure whether it's a greater or lesser concern than the £2M valuation.
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invester
P2P Blogger
Posts: 612
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Post by invester on Jan 8, 2019 16:26:35 GMT
Makes no sense at all to me.
Is this the borrower trying to play games and try and get a low-ball offer accepted?
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Post by brightspark on Jan 8, 2019 20:44:57 GMT
Wonder what is happening to the rent that the Administrator is collecting on this property?
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gwenynwyr
Member of DD Central
Posts: 54
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Post by gwenynwyr on Jan 9, 2019 16:06:14 GMT
Wonder what is happening to the rent that the Administrator is collecting on this property? Administrators have expenses too!
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neal
Member of DD Central
Posts: 87
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Post by neal on Jan 9, 2019 18:29:41 GMT
Wonder what is happening to the rent that the Administrator is collecting on this property? Administrators have expenses too! I wonder if there will be any rent left after the administrator has deducted their expenses!
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Mousey
Member of DD Central
Posts: 1,585
Likes: 6,674
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Post by Mousey on Jan 25, 2019 11:22:45 GMT
At CH 'Statement of administrator's proposal is being processed and will be available in 5 days.'
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rocky1
Member of DD Central
Posts: 1,132
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Post by rocky1 on Jan 25, 2019 11:46:50 GMT
Do lendy take any more fees once receivers/administrator takes over these loans.i don't believe they should take a penny after their incompetence and mismanagement of all these loans.every penny should be returned to lenders.
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Post by p2plender on Jan 25, 2019 13:47:21 GMT
Of course, otherwise they're running on fresh air. Talked about this a while back.
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Monetus
Member of DD Central
Posts: 1,179
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Post by Monetus on Jan 28, 2019 10:29:32 GMT
Administrator's proposals now added to DD Central.
Certainly make for interesting reading.
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Post by supernumerary on Jan 28, 2019 11:15:21 GMT
Administrator's proposals now added to DD Central. Certainly make for interesting reading. Thanks for the 'heads up' on the link in DD Central. IMHO, 'interesting' is NOT the descriptor, more like 'horrendous'...
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Post by grumpysculler on Jan 28, 2019 11:33:00 GMT
This could get awfully interesting if lenders lose more than they would have done if lendy had respected the vote. Possibly claim against lendy?
Annoyingly, this is the largest of my remaining loans (I'm leaving the platform, only have distressed loans left, this one and the London loan are compete car crashes).
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invester
P2P Blogger
Posts: 612
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Post by invester on Jan 28, 2019 11:56:59 GMT
Was my largest holding as well, disappointed is an understatement.
I was under the impression that units were already let in this - producing a (projected income) of c.£400,000. p/a. What has happened to this?
Lendy must have had their reasons for turning down the offer - hopefully this should come to light.
But in my opinion, they are just reaping what they sow. I remember arguing at the time that we needed more information to make a decision, in the absence of it we had to rely on the information out there which suggested there was no reason to deal.
On that valuation the flats seem to be being valued at about £50k a piece, which reads to me as the costs to put them right is quite high.
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