7d7
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Post by 7d7 on Feb 3, 2018 11:56:42 GMT
While, in this case, we do expect an overall loss, some further recovery is likely as it is still with the administrators.
Aren't we due an administrator's report on this shortly? Would love to hear more about the "likely" further recovery for the investors who lost 66% of their capital.... Further information is definitely long overdue. As mentioned below, it was expected a fortnight after the last update in their promised follow up. Additional funds were equally supposed to minimise the 70% loss passed on to lenders. Doesn't four months of silence display remarkable ineptitude? 04/10/2017 Following distribution of the auction funds we are continuing to follow up, both with the administrator and directly, through our own insolvency practitioner. We are currently waiting reports from both parties - an update will be distributed giving details of the actions being taken once these reports are available - expected within the next two weeks. 02/10/2017 Funds from the auction sale have now been distributed and the loan has been closed. Any additional funds recovered will be paid separately to all investors as and when received - with an email notification at the time. Any investors in this loan wishing to have more details please refer to the confidential emails previously sent.
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Post by brightspark on Feb 3, 2018 13:24:08 GMT
Apart from the half dozen or so who lost substantial amounts on this one everyone else has I suspect written off the loss and are licking their wounds. The odd penny more may trickle the way of lenders but I imagine that basically we've had our lot. Not nice. Now I avoid any wind turbine (and also boat) investments and generally am much more critical of any proposition put forward by FS.
AC lenders are just about to have a salutary lesson on 4 awful wind turbine loans.
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Monetus
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Post by Monetus on Feb 3, 2018 13:45:40 GMT
While, in this case, we do expect an overall loss, some further recovery is likely as it is still with the administrators.
Aren't we due an administrator's report on this shortly? Would love to hear more about the "likely" further recovery for the investors who lost 66% of their capital.... Further information is definitely long overdue. As mentioned below, it was expected a fortnight after the last update in their promised follow up. Additional funds were equally supposed to minimise the 70% loss passed on to lenders. Doesn't four months of silence display remarkable ineptitude? 04/10/2017 Following distribution of the auction funds we are continuing to follow up, both with the administrator and directly, through our own insolvency practitioner. We are currently waiting reports from both parties - an update will be distributed giving details of the actions being taken once these reports are available - expected within the next two weeks. 02/10/2017 Funds from the auction sale have now been distributed and the loan has been closed. Any additional funds recovered will be paid separately to all investors as and when received - with an email notification at the time. Any investors in this loan wishing to have more details please refer to the confidential emails previously sent. Yes no sign of any report or update four months later... Seemingly empty words. Looks like zero further recovery action has been taken and FS have quite simply moved on and forgotten about it. As they struggle to actively manage “live loans” properly I guess they can’t be expected to care about “closed loans”, even if many people lost substantial amounts of capital.
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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 3, 2018 17:02:22 GMT
At least the loss is now TAX deductible  so no more  |
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btc
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Post by btc on Mar 9, 2018 10:01:43 GMT
Wow even after hiring private investigators there's no chance that we will get our capital back
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Mar 9, 2018 10:12:43 GMT
Apparently there has been an update including a report from the Receiver but I have not had it. Can anyone post the essence of it?
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n
Member of DD Central
Yet another Nick
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Post by n on Mar 9, 2018 10:50:39 GMT
No. You can ask turbine@fundingsecure.com for it.
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Post by eascogo on Mar 9, 2018 12:08:50 GMT
Apparently there has been an update including a report from the Receiver but I have not had it. Can anyone post the essence of it? I've emailed you the link.
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rgog
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Post by rgog on Mar 9, 2018 12:58:34 GMT
It's not hugely informative or hopeful. I suspect the best we can now get out of this is to off set against tax, which isn't much!
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oldgrumpy
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Post by oldgrumpy on Mar 9, 2018 13:01:40 GMT
Basically, the two directors are making a very good job of concealing whatever assets they own, if they actually do. Even Charley and Piggy couldn't find anything. Of course, some directors are very resourceful. Attachments:
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mariner
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Post by mariner on Mar 23, 2018 18:00:59 GMT
Administrator's progress report will be available at Companies House in the next couple of days
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littleoldlady
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Post by littleoldlady on Mar 23, 2018 22:06:11 GMT
Administrator's progress report will be available at Companies House in the next couple of days Is that the same one referred to above?
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mariner
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Post by mariner on Mar 24, 2018 7:20:26 GMT
Administrator's progress report will be available at Companies House in the next couple of days Is that the same one referred to above? I think the one referred to, was from FS, the one I refer to is the latest one filed by the Administrator which is going through the process at CH
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littleoldlady
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Post by littleoldlady on Mar 24, 2018 7:43:30 GMT
Is that the same one referred to above? I think the one referred to, was from FS, the one I refer to is the latest one filed by the Administrator which is going through the process at CH So I guess it's the same one. We have already had a preview before filing at CH.
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mariner
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Post by mariner on Mar 24, 2018 8:19:51 GMT
Yes, my mistake, it probably is
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