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Post by wickedxuk on Sept 5, 2016 11:39:15 GMT
On CH he was listed as banned from directorships until Sept 2015 (according to another forum). But I can't find sources to confirm that yet. It is discussed specifically on a Hull forum. PM me if you would like reference to this. Companycheck has him taking up new appointments on 20th July 2015. Maybe we should be asking savingstream to clarify if they can. It maybe that his ban was lifted at some point. Like I say this was just information from another forum from when the ban was first put in place. I can't find much else but it might be worth us digging further!
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Post by wickedxuk on Sept 5, 2016 11:41:11 GMT
On CH he was listed as banned from directorships until Sept 2015 (according to another forum). But I can't find sources to confirm that yet. It is discussed specifically on a Hull forum. PM me if you would like reference to this. I've tried finding more info via CH but I'm not sure it has historic data. The Disqualified Directors Search isnt working and just giving me every name under the sun. Might be worth someone else searching his name to see if there is historic data there. I think I'll still take a decent chunk of this loan as the security is still good and PP looks likely. I (and others) also noted that, but I didn't put it in my overview because it's not on any of the official sources (only a couple of forums and a Wikipedia page). However, I do believe to be true; just need to find the proper source to confirm. I think that is sensible until we can confirm with a good source. I will keep looking too.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329 
Likes: 11,549
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Post by ilmoro on Sept 5, 2016 12:19:32 GMT
On CH he was listed as banned from directorships until Sept 2015 (according to another forum). But I can't find sources to confirm that yet. It is discussed specifically on a Hull forum. PM me if you would like reference to this. Companycheck has him taking up new appointments on 20th July 2015. The ban was until 19th, according to the screen print of the CH page posted on another forum.
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Post by wickedxuk on Sept 5, 2016 12:31:17 GMT
Havent seen that ilmoro. But I guess that makes sense... 🙃 |
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Post by gaspilot on Sept 5, 2016 12:40:06 GMT
13 directorships taken up on 20th and four more since then!
Busy man then.
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Post by gaspilot on Sept 5, 2016 12:41:05 GMT
Actually 15 taken up on 20th but he's resigned from 2.
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Post by dodgeydave on Sept 5, 2016 12:46:12 GMT
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mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
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Post by mikes1531 on Sept 5, 2016 18:28:09 GMT
The decision to allocate this £4.8m loan "bottom up" suggests that the days of the BHs gaming the pre-funding system are firmly behind us! Might SS be concerned that there isn't enough pent-up demand to fill the £4.8M loan? Perhaps not, as allocating by the percentage model would encourage people to bid more than they really want, and that would help SS fill the loan -- until they find that investors hadn't expected such a large allocation percentage and start reneging on their commitments. Do people think that there will be some of this one left for the SM after all the pre-funding requests are met in full? If so, any guesses as to how much? If there isn't going to be anything left over, would anyone care to guess what the maximum allocation amount will be? Since this is a PBL, I suppose my next question should be unnecessary, but have savingstream actually said that they're going to fund the whole £4.8M in the beginning, rather than releasing the loan in stages?
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Post by grodecki on Sept 5, 2016 18:29:41 GMT
Really not sure whether I want to be in this or not. I'm guessing that means I don't.
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
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Post by cooling_dude on Sept 5, 2016 18:51:12 GMT
Really not sure whether I want to be in this or not. I'm guessing that means I don't. As mentioned before by others, I think the main concern here is the value of the land which has had a 70k / acre increase, but the land (along with the new parcel of land) has had no additional benefits since the PBL054 valuation (July 2015). > Rezoning was in place in July 2015 > The flood risk hasn't changed > No additional PP has been approved (or is even pending) > The financial situation in Hull hasn't changed; if anything, I would guess that land value in hull has reduced since Brexit, due to the cold feet of some of the Wind Farm companies. > No additional land clearance or prep has been carried out Hyperpheticly, if the land was worth 130k/ acre, then the security is worth c£5,200,000. That would provide a (hypothetical) LTV @ 92%.
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Post by martin44 on Sept 5, 2016 19:50:04 GMT
Really not sure whether I want to be in this or not. I'm guessing that means I don't. I will most definitely be in, for all the obvious reasons, 12 months loan, interest up front, i will hold for 6 months and then visit the SM, not particularly interested in the borrowers background. cynical? again, most definitely, but i am now of the opinion that whatever SS has to say is to be taken with a pinch of salt.
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
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Post by cooling_dude on Sept 5, 2016 19:54:55 GMT
Really not sure whether I want to be in this or not. I'm guessing that means I don't. I will most definitely be in, for all the obvious reasons, 12 months loan, interest up front, i will hold for 6 months and then visit the SM, not particularly interested in the borrowers background. cynical? again, most definitely, but i am now of the opinion that whatever SS has to say is to be taken with a pinch of salt. It must be noted that... 1. The interest held is a chunk of the money that we send 2, A loan can default within its term. Just saying  .
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Post by martin44 on Sept 5, 2016 19:56:40 GMT
I will most definitely be in, for all the obvious reasons, 12 months loan, interest up front, i will hold for 6 months and then visit the SM, not particularly interested in the borrowers background. cynical? again, most definitely, but i am now of the opinion that whatever SS has to say is to be taken with a pinch of salt. It must be noted that... 1. The interest held is a chunk of the money that we send 2, A loan can default within its term. Just saying . Has that ever happened?
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fp
Posts: 1,008
Likes: 853
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Post by fp on Sept 5, 2016 19:58:09 GMT
I will most definitely be in, for all the obvious reasons, 12 months loan, interest up front, i will hold for 6 months and then visit the SM, not particularly interested in the borrowers background. cynical? again, most definitely, but i am now of the opinion that whatever SS has to say is to be taken with a pinch of salt. It must be noted that... 1. The interest held is the chunk of the money we send 2, A loan can default within its term.Just saying . This is why i'll not be pre-funding, as we've seen with a couple of loans in the past month, skeletons can fall out of the cupboard when you least expect it, and I think the chances of there being problems with this one far exceed 12% 
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
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Post by cooling_dude on Sept 5, 2016 19:58:56 GMT
It must be noted that... 1. The interest held is a chunk of the money that we send 2, A loan can default within its term. Just saying . Has that ever happened? Not on SS (not sure about other platforms). That doesn't mean it won't.
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