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Post by Icarus Unleashed on Oct 22, 2016 4:49:09 GMT
I'd already rejected this loan myself on the basis of the security and financial state of the company. So do follow one of the golden rules of investing: if you're not comfortable with the investment, don't make it: so sell if you haven't already sold and remain uncomfortable. Very good advice, ultimately you have to trust your instincts. No one has a (working) crystal ball so simply assess any potential investment based on the information that you have available and go from there.
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dermot
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Post by dermot on Oct 30, 2016 12:36:16 GMT
Just been reading an article in the press about the club - there is an airborne photo showing that the current location looks quite well placed for development.
The article goes on to say: "And **** council have confirmed they are working with the club to try and identify a new site." which is promising.
I've been considering if I should sell out my small chunk in this loan, but if the local council is onboard, think I'll hang on.
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Post by Deleted on Oct 30, 2016 16:35:14 GMT
Their league form has been... interesting... since this loan originated
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hazellend
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Post by hazellend on Nov 12, 2016 19:55:28 GMT
Lost 1-4 at home today and have gone from 7th to 16th place. If you're an optimist that's still only 5 points off a play off place. For pessimists, it's only 3 points off a relegation place. The fans are calling for the manager's head so that could be another unexpected expense coming their someone's way. Enjoy the ride. Why is any of that relevant? At this point moneything lenders have a 12% loan secured against a first charge with 10% LTV.
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Post by Deleted on Nov 12, 2016 20:26:21 GMT
Why is any of that relevant? At this point moneything lenders have a 12% loan secured against a first charge with 10% LTV. The valuers seem to think it is relevant...
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hazellend
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Post by hazellend on Nov 12, 2016 21:01:37 GMT
If the valuation halved the LTV would be 20%.
I am happy to be in this loan, and I don't see much coming up for sale.
As to the chances of the borrowers raising the rest of the loan on moneything, perhaps not looking good
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averageguy
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Post by averageguy on Nov 16, 2016 21:41:26 GMT
Their league form has been... interesting... since this loan originated The managers been sacked
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Post by dualinvestor on Nov 22, 2016 16:17:49 GMT
Winding up petition dismissed yesterday, don't know who paid costs. If the petition was dismissed because the debtor had paid up then the petition costs, which are fairly minimal, would have been part of the debt (i.e. in this case by the Football club), if the petition was dismissed because there was no debt due, it would be up to the Registrar (the type of judge who hears winding up petitions in the HIgh Court), but usually the debtor always pays.
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Post by karloshi on Nov 29, 2016 18:09:59 GMT
There is article in the Guardian about this club, their debts and mentions the MT loans by name. Article is dated 27th October. Not sure if i can post a link on here even though the article in question gives all the details.
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Post by GSV3MIaC on Nov 29, 2016 20:32:29 GMT
There is article in the Guardian about this club, their debts and mentions the MT loans by name. Article is dated 27th October. Not sure if i can post a link on here even though the article in question gives all the details. /mod hat ON! No you can't, but anyone in possession of the club name can probably find it (and any Guardian Readers probably already know).
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bg
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Post by bg on Nov 29, 2016 21:52:06 GMT
There is article in the Guardian about this club, their debts and mentions the MT loans by name. Article is dated 27th October. Not sure if i can post a link on here even though the article in question gives all the details. /mod hat ON! No you can't, but anyone in possession of the club name can probably find it (and any Guardian Readers probably already know). Sorry but I think that is ridiculous. The story is in a national newspaper naming MT and the club.....anyone who says posting a link to that article could cause this website to be sued (for what possible reason?) is having a laugh (Maybe The Guardian have their lawyers primed awaiting pending court case for reporting the news). Last time I made a comment like this I was warned by a mod that they feared being held personally liable by any legal action. Bonkers.
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stevio
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Post by stevio on Nov 29, 2016 22:33:17 GMT
MoneyThingCould you kindly clarify some of the points made on the Guardian article please: - 5 outstanding mortgages on the ground - correct? Where do MT loans stand in this? -creditors chasing debts have led to CCJs? -how will the building of the new ground be paid for?
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Post by MoneyThing on Nov 29, 2016 22:40:37 GMT
MoneyThing Could you kindly clarify some of the points made on the Guardian article please: - 5 outstanding mortgages on the ground - correct? Where do MT loans stand in this? -creditors chasing debts have led to CCJs? -how will the building of the new ground be paid for? Evening stevio, 1) As part of of our agreed funding, there was an undertaking for these to be removed which should be reflected shortly. 2) Correct. 3) Once the option agreement has been secured for the new site, planning will be obtained and then the project will be funded by another lender. Just a note to say that we will be making an announcement on this loan within the next few days. Kind regards, Ed
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stevio
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Post by stevio on Nov 29, 2016 22:46:18 GMT
MoneyThing Could you kindly clarify some of the points made on the Guardian article please: - 5 outstanding mortgages on the ground - correct? Where do MT loans stand in this? -creditors chasing debts have led to CCJs? -how will the building of the new ground be paid for? Evening stevio, 1) As part of of our agreed funding, there was an undertaking for these to be removed which should be reflected shortly. 2) Correct. 3) Once the option agreement has been secured for the new site, planning will be obtained and then the project will be funded by another lender. Just a note to say that we will be making an announcement on this loan within the next few days. Kind regards, Ed 7 minute response time, is that a record Ed? - can take other platforms 7 days to reply if at all! Take notes savingstream ablrate fundingsecure !!!
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Post by MoneyThing on Nov 29, 2016 22:48:50 GMT
Evening stevio, 1) As part of of our agreed funding, there was an undertaking for these to be removed which should be reflected shortly. 2) Correct. 3) Once the option agreement has been secured for the new site, planning will be obtained and then the project will be funded by another lender. Just a note to say that we will be making an announcement on this loan within the next few days. Kind regards, Ed 7 minute response time, is that a record Ed? - can take other platforms 7 days to reply if at all! Take notes savingstream ablrate fundingsecure !!!  I have been out all day so just catching up on threads before I retire... your post happened to come in when I was logged on!
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I have been out all day so just catching up on threads before I retire... your post happened to come in when I was logged on!