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Post by skooldaze on Jan 15, 2021 21:32:26 GMT
Unless anyone is interested / experienced / think we have a good chance, of suing FC...then I think this will be goodbye for me.
£5k invested with just over £3k back meaning overall I leave FC with a £1k deficit.
Thank you to all the guys for helping out on the thread and lesson learnt for me.
Many thanks
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sussexlender
Member of DD Central
Cheat seeking missile
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Post by sussexlender on Jan 19, 2021 12:56:38 GMT
Hi skooldaze. I don't feel it worth taking this any further. I still feel that FC should demonstrate some honour and repay the missing capital. We have all been shafted due to the obvious lack of due dilenge by FC's "highly experienced" property team. Best of luck with any new venture. SXLR
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Mousey
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Post by Mousey on Feb 25, 2021 20:24:22 GMT
Business and Property Courts of England and Wales Cause List,
Friday 26 February 2021 Commercial Court (QBD)
Before Julia Dias QC sitting as a Judge of the High Court Remote hearing At 2pm Application hearing CL-2017-****** Funding Circle Property Finance Limited v. ****
The hearing will be available to representatives of the media, on their request, and therefore will be a hearing conducted in public in accordance with CPR PD51Y. It will be organised and conducted using MS Teams. Any media representative (or any other member of the public) wishing to witness the hearing will need to do so over the internet and provide an email address at which to be sent an appropriate link for access. Please contact comct.listing@justice.gov.uk
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rogerthat
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Post by rogerthat on Feb 25, 2021 22:06:38 GMT
Business and Property Courts of England and Wales Cause List,
Friday 26 February 2021 Commercial Court (QBD)
Before Julia Dias QC sitting as a Judge of the High Court Remote hearing At 2pm Application hearing CL-2017-****** Funding Circle Property Finance Limited v. ****
The hearing will be available to representatives of the media, on their request, and therefore will be a hearing conducted in public in accordance with CPR PD51Y. It will be organised and conducted using MS Teams. Any media representative (or any other member of the public) wishing to witness the hearing will need to do so over the internet and provide an email address at which to be sent an appropriate link for access. Please contact comct.listing@justice.gov.uk @mousey..does one have to enclose the hearing number you've redacted or just the first few lines (say to Application Hearing) ? Thanks
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Mousey
Member of DD Central
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Post by Mousey on Feb 25, 2021 22:41:20 GMT
CL-2017-****** Funding Circle Property Finance Limited v. ****
@mousey..does one have to enclose the hearing number you've redacted or just the first few lines (say to Application Hearing) ? Thanks
I'd assume they'd be able to identify just from saying "funding circle at 2pm", but who knows...Good luck!
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rogerthat
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Post by rogerthat on Feb 26, 2021 15:34:39 GMT
Watched..one hour..didnt understand much if anything but Id say it didnt go well for the Tu*i clan..£11.5K costs as well. M'lady rebuked me for not muting video and sound at the outset...some suitable grovelling seemed to suffice
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keitha
Member of DD Central
2024, hopefully the year I get out of P2P
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Post by keitha on Mar 1, 2021 13:59:11 GMT
was that hearing this case ? What was the outcome
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rogerthat
Member of DD Central
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Post by rogerthat on Mar 1, 2021 14:15:47 GMT
was that hearing this case ? What was the outcome Yes..it relates to the 'Hotel California' fiasco in London & elsewhere. As ive said...it was way beyond my understanding..and even if I did, I doubt it would be prudent, let alone permissible to repeat it on here. Im guessing that being lumbered with the hearing costs (if I heard correctly) doesn't mean you've come out smelling of roses.. I really dont know but i found it interesting nonetheless
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keitha
Member of DD Central
2024, hopefully the year I get out of P2P
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Post by keitha on Mar 1, 2021 14:18:13 GMT
just got that "never check out"
or maybe with that bunch of jokers "never cheque out"
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wuzimu
Member of DD Central
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Post by wuzimu on Sept 6, 2021 8:35:50 GMT
Anybody here with enough in this loan (or other defaulted FC property backed loans) to be motivated to make a FOS complaint?
As a service to members of this platform I will share how I got my money back from FC plus interest.
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kielbasa
Member of DD Central
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Post by kielbasa on Sept 6, 2021 15:32:35 GMT
I would be very interested, wuzimu.
Feel free to PM me.
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wuzimu
Member of DD Central
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Post by wuzimu on Sept 7, 2021 20:31:45 GMT
W/ref the Ombudsmans decisions website... DRN3100630 of 30Jun 2021 should be of interest to any lenders in London loan and/or P* Building, Liverpool and in fact any defaulted loan that you picked yourself. IE pre Sept 2017.
In that decision the Ombudsman sets out exactly what consists a misrepresentation by FC in the Loan Promotion.
IMO there is ample scope to make FOS claim capable of being upheld for every defaulted property backed loan manually selected by the lenders (IE pre Sept 2017)
It doesn't matter if the recovery efforts are still purportedly ongoing eg the London loan. Because the remedy for misrepresentation is to un-wind the contract, not damages for loss.
If anyone is interested but isn't able to join the dots feel free to PM me. I won't be writing your complaint for you but I may clarify the upshot of the Decision I refer to...
Regards W
* To be clear loan 1 in the FOS Decision is P* Building Liverpool,, loan 4 in the Decision is the London loan. (Albeit FC settled that one before it got to Ombudsman)
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Post by Badly Drawn Stickman on Sept 7, 2021 21:25:36 GMT
DecisionI have been arguing this with Funding Circle for some considerable time from a different angle. The financial ombudsman process is a long hard slog (I have recently finished a successful claim against Ratesetter) I would be happy to get involved in a coordinated attempt either to directly pressure FC or if needed move to the FO route, claim composition is the key and not my strong point, so a 'Template letter compiler' would be a key need. Edit. I think the link is within forum parameters, but if admin is not happy with it I will relocate to DDc (let me know)
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wuzimu
Member of DD Central
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Post by wuzimu on Sept 7, 2021 22:12:46 GMT
Well in that complaint I pointed out misrepresentations in the loan promotion documents issued by FC, which FOS accepted were civil liabilities sufficiently serious to unwind the contracts.
I hoped FOS to have alerted FCA of these misreps who may then have required FC to repay all lenders in those two loans at least. And then examine the rest of the defaulted FC property loan book for further misrepresentations....
Not happened yet!
Probly needs a group of affected lenders to push FCA into action.
As FOS now see these misrepresentations it does not seem fair every lender should have to make their own claim.
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coogaruk
Hello everyone! Anyone remember me?
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Post by coogaruk on Sept 21, 2021 11:09:47 GMT
21 Sep 2021
"The personal guarantor in this case has been declared bankrupt and we do not anticipate any future recoveries. The case is now closed."
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