averageguy
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Post by averageguy on Nov 27, 2019 14:02:49 GMT
The same questions I'd be asking. I'd have thought this one would have been one of the first to be sorted and settled. Seems nothing is moving here... Hopefully the problem mentioned in the last update has or is close to being sorted..then the question will be what % we are likely to get back ..I’m not hopeful of much
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Mousey
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Post by Mousey on Dec 16, 2019 15:34:01 GMT
Administrator's progress report uploaded to Companies House and "available within 5 days"
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Post by p2plender on Feb 3, 2020 1:23:44 GMT
What's happening here?
Last I looked, bids were being finalised with an end date of May 19!
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averageguy
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Post by averageguy on Feb 4, 2020 17:15:37 GMT
Administrator's progress report uploaded to Companies House and "available within 5 days" Anyone seen the report?
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star dust
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Post by star dust on Feb 4, 2020 18:39:33 GMT
Administrator's progress report uploaded to Companies House and "available within 5 days" Anyone seen the report? It's showing available as a pdf at Companies House, and there is a brief summary of it in DDC - p2pindependentforum.com/post/363669/thread for those with access. A slow burn with Administrators fees racking up nicely
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averageguy
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Post by averageguy on Feb 4, 2020 21:53:02 GMT
It's showing available as a pdf at Companies House, and there is a brief summary of it in DDC - p2pindependentforum.com/post/363669/thread for those with access. A slow burn with Administrators fees racking up nicely Thanks
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Post by pjt1 on Feb 29, 2020 16:16:50 GMT
That post needs to be removed immediately as you are wide open to a damages claim against you.
Not sure about the Moderators but I wouldn't be over the moon if I was them either.
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Feb 29, 2020 17:15:54 GMT
That post needs to be removed immediately as you are wide open to a damages claim against you. Not sure about the Moderators but I wouldn't be over the moon if I was them either. What post are you referring too?
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Post by ladywhitenap on Feb 29, 2020 17:19:35 GMT
That post needs to be removed immediately as you are wide open to a damages claim against you. Not sure about the Moderators but I wouldn't be over the moon if I was them either. What post are you referring too? I suspect it has been removed already. the latest post on DD for this loan is dated 16/1/20. LW
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Mousey
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Post by Mousey on Feb 29, 2020 18:56:03 GMT
The borrower on this loan is attempting to obtain a loan from a different p2p provider secured against a different property.
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averageguy
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Post by averageguy on Feb 29, 2020 19:35:14 GMT
The borrower on this loan is attempting to obtain a loan from a different p2p provider secured against a different property. Lol......not bothered about paying this one back first
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micky
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Post by micky on Feb 29, 2020 21:33:23 GMT
Just wanted to check it out with the mods-
From the other forum
'Apparently Bridgecrowd are offering another multimillion pound loan on a property in Stafford Street, Wolverhampton, to the same borrower who has defaulted on the S****** Development loan on Lendy to the extent of £14M + a lot of interest. Does anyone know the criteria Bridgecrowd (in their wisdom) use for assessing the appropriateness of prospective borrowers to receive credit? The loan is actually to be 678£K+ 2nd charge on a £3.5M property with an outstanding £1.4M first charge mortgage on it
Maybe someone on Bridgecrowd can reply on this forum to assure me that my money will be safe if I invest with them on this particular loan. Maybe Mr W has repaid his Lendy loan to the administrators, and we haven't been informed yet. Yes, that must be it.'
I'm happy to agree with- 'It appears in the world of P2P we are quite often at a loss (literally) to do anything when these scoundrels walk away from our loans on the cheap.
As a community the least we can probably manage is to scupper all future plans by those who owe us money and regret the day they messed with us. Where do we start in stopping this obtaining funding!'
As Bridgecrowd infom us- 'The borrower is also providing a PG in addition to the legal charge over the security. The borrower also owns an unencumbered property valued at £750k and jointly owns a further property with a self-asserted EMV of £2.5m with a £1m 1st charge mortgage.'
I have also been informed that for those with access to BC site that the valuation report for the new Wolverhampton BC loan contains contact details for the borrower.
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Balder
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Post by Balder on Mar 1, 2020 8:08:19 GMT
Not on BC is he borrowing to buy ours of the receiver?
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Post by brightspark on Mar 1, 2020 8:50:11 GMT
Just wanted to check it out with the mods- From the other forum 'Apparently Bridgecrowd are offering another multimillion pound loan on a property in Stafford Street, Wolverhampton, to the same borrower who has defaulted on the S****** Development loan on Lendy to the extent of £14M + a lot of interest. Does anyone know the criteria Bridgecrowd (in their wisdom) use for assessing the appropriateness of prospective borrowers to receive credit? The loan is actually to be 678£K+ 2nd charge on a £3.5M property with an outstanding £1.4M first charge mortgage on it Maybe someone on Bridgecrowd can reply on this forum to assure me that my money will be safe if I invest with them on this particular loan. Maybe Mr W has repaid his Lendy loan to the administrators, and we haven't been informed yet. Yes, that must be it.' I'm happy to agree with- 'It appears in the world of P2P we are quite often at a loss (literally) to do anything when these scoundrels walk away from our loans on the cheap. As a community the least we can probably manage is to scupper all future plans by those who owe us money and regret the day they messed with us. Where do we start in stopping this obtaining funding!' As Bridgecrowd infom us- 'The borrower is also providing a PG in addition to the legal charge over the security. The borrower also owns an unencumbered property valued at £750k and jointly owns a further property with a self-asserted EMV of £2.5m with a £1m 1st charge mortgage.' I have also been informed that for those with access to BC site that the valuation report for the new Wolverhampton BC loan contains contact details for the borrower. One has to wonder why if the borrower has an unencumbered property valued at 750K is this not to be used as security rather than relying on an unsupported PG. I would not lend on such a proposed investment.
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micky
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Post by micky on Mar 1, 2020 10:28:53 GMT
Not on BC is he borrowing to buy ours of the receiver? Perhaps not. The original loan on Lendy was Penn Road and this new property is Stafford Road.
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