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Post by da2279 on Nov 6, 2017 16:15:40 GMT
Latest from my support request on the accrual Interest and Bonus payments: -
"PBL123 and PBL147, PBL074 - we continue with our recovery strategy to enforce the balance of the debt against the borrower..
.....
We are currently developing a new tab where partially repaid loans will appear, and updates will be included accordingly."
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Post by reggie on Dec 5, 2017 12:56:23 GMT
Another month gone - no new update and no sign of the accrued interest and bonus.
We really need this new tab so these situations don't get forgotten.
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Post by reggie on Jan 15, 2018 12:30:05 GMT
Another 6 weeks and still no tab of unpaid interest and bonus
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Post by da2279 on Feb 19, 2018 12:52:46 GMT
So we now have a partially repaid tab and PBL123 has been updated some 5 months on...
"16/02/2018
The security property was disposed of at its second listed auction after failing to obtain any suitable offers whilst listed on the open market. Following completion of the auction sale, a partial repayment of capital was returned to investors which the balance of capital, accrued interest and bonus accrual outstanding. After undertaking a further financial review of the borrower prior to the disposal of the security property, we learned that the borrower owns 3 other properties in the London area with equity across all three of approximately £200,000."
Anyone else still in the dark as to what is happening and when?? I have put a request into support in the hope that they can be a bit clearer about the situation.
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Liz
Member of DD Central
Posts: 2,426
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Post by Liz on Feb 19, 2018 13:07:06 GMT
So we now have a partially repaid tab and PBL123 has been updated some 5 months on...
"16/02/2018
The security property was disposed of at its second listed auction after failing to obtain any suitable offers whilst listed on the open market. Following completion of the auction sale, a partial repayment of capital was returned to investors which the balance of capital, accrued interest and bonus accrual outstanding. After undertaking a further financial review of the borrower prior to the disposal of the security property, we learned that the borrower owns 3 other properties in the London area with equity across all three of approximately £200,000."
Anyone else still in the dark as to what is happening and when?? I have put a request into support in the hope that they can be a bit clearer about the situation. They will probably come back a statement like: In a forced sale, considering soft London prices and after accrued interest and fees are paid, there is very to no equity left in these properties. And they will accept a token amount from the borrower to close the matter. Just from my experience of p2p and I am probably wrong.
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Post by da2279 on Feb 19, 2018 13:17:30 GMT
So we now have a partially repaid tab and PBL123 has been updated some 5 months on...
"16/02/2018
The security property was disposed of at its second listed auction after failing to obtain any suitable offers whilst listed on the open market. Following completion of the auction sale, a partial repayment of capital was returned to investors which the balance of capital, accrued interest and bonus accrual outstanding. After undertaking a further financial review of the borrower prior to the disposal of the security property, we learned that the borrower owns 3 other properties in the London area with equity across all three of approximately £200,000."
Anyone else still in the dark as to what is happening and when?? I have put a request into support in the hope that they can be a bit clearer about the situation. They will probably come back a statement like: In a forced sale, considering soft London prices and after accrued interest and fees are paid, there is very to no equity left in these properties. And they will accept a token amount from the borrower to close the matter. Just from my experience of p2p and I am probably wrong. I'm sure your probably right, it would be great to get some straight feedback from them.
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Mousey
Member of DD Central
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Post by Mousey on Dec 14, 2020 10:22:12 GMT
A so-called Part 7 Claim was filed at the Queens Bench Division in the High Court last week against the borrower.
The claimants are: 1) Lendy Limited (sic - should be Ltd)
2) Saving Stream Security Holdings Limted (sic)
The defendant I understand is the borrower
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sussexlender
Member of DD Central
Cheat seeking missile
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Post by sussexlender on Dec 19, 2020 22:26:21 GMT
Thanks for the info Mousey.
Have a safe and happy Christmas.
Regards, SXLR
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Mousey
Member of DD Central
Posts: 1,598
Likes: 6,768
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Post by Mousey on Mar 2, 2021 22:43:57 GMT
A so-called Part 7 Claim was filed at the Queens Bench Division in the High Court last week against the borrower.
The claimants are: 1) Lendy Limited (sic - should be Ltd)
2) Saving Stream Security Holdings Limted (sic)
The defendant I understand is the borrower
And in court for a hearing tomorrow at 2pm.....
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Mousey
Member of DD Central
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Post by Mousey on Mar 3, 2021 19:02:39 GMT
This was a Case Management Conference seeking to set the costs budget for litigation between the P2P lending firm Lendy and a Borrower.
The case was heard before Queens Bench Master Davison with the claimant Lendy Ltd represented by Mr Lloyd Maynard and the borrower represented by Mr Andrew Otchie
It's understood that the matter is set for trial at the end of the year with a time estimate of three days. It is further understood the borrower has issued a counterclaim alleging (inter alia) fraudulent misrepresentation.
Mr Maynard told the court that the claim was "conservativity worth £2.4m" and due to interest accruing on a compound basis could be worth "£3m at trial".
Mr Maynard further submitted that the claims carried a "significant stigma" which he said justified the attendance of a so-called Grade 2 solicitor attending trial. In addition he told the court "these proceedings are effectively the first in long chain of recover matters" and concerned whether "the lenders should be responsible for receivers conduct in selling property".
It's understood the parties will attempt mediation/ADR prior to trial.
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registerme
Member of DD Central
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Post by registerme on Mar 3, 2021 22:10:07 GMT
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Mousey
Member of DD Central
Posts: 1,598
Likes: 6,768
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Post by Mousey on Aug 16, 2021 11:03:24 GMT
I understand the matter has been listed for a three day trial starting Wed 20th October 2021
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Mousey
Member of DD Central
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Post by Mousey on Mar 4, 2022 20:04:31 GMT
The trial is due to start on Monday, albeit with a time estimate of 2 days.
I blogged about the previous trial which had to be aborted after the defendant borrowers solicitor forgot to book the barrister.
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agent69
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Post by agent69 on Mar 4, 2022 20:38:15 GMT
The trial is due to start on Monday, albeit with a time estimate of 2 days. I blogged about the previous trial which had to be aborted after the defendant borrowers solicitor forgot to book the barrister. Is there no limit to the excuses that borrowers can come up with to avoid their day in court?
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Mousey
Member of DD Central
Posts: 1,598
Likes: 6,768
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Post by Mousey on Mar 4, 2022 20:51:59 GMT
The trial is due to start on Monday, albeit with a time estimate of 2 days. I blogged about the previous trial which had to be aborted after the defendant borrowers solicitor forgot to book the barrister. Is there no limit to the excuses that borrowers can come up with to avoid their day in court? It was genuinely the solicitors fault, not the borrower. Judge Clive Sheldon QC said at the time: “ The defendant has found herself here as a result of the solicitor’s failure to ensure preferred counsel and to fail to obtain alternative counsel. In my judgment, given the particular facts of the case, not adjourning would be most unfair, given the solicitors actions and omissions”
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