#204

I always liked is loan, the story to me was of honest hardworking bussiness people who when things went wrong even if not in their control stood up and payed what they owed as best as possible. For one i did not go into peer to peer to put people out of their houses at the first call when there was a possible way out for them in repaying the loan, comming up to Christmas or any other time of the year.So its A for me , however if the deals not kept to all bets are off.I of course assume will still have access to the asset.

We (AC) have legal charges over a couple of properties (though both 2nd charge). Those wouldn't be released as  part of the deal so would remain (there is no request to release the charges as part of the deal). Therefore the specific assets backing up the PG value cannot be disposed off (without lenders approval). The appointed administrator for the business still has the same duties to perform whether they are appointed by us or someone else, so our priority in the pecking order for any recoverable value would remain (not that I am expecting any TBH).

The only additional risk would be in regard to the borrower having more time to dispose of other assets not covered by the specific charges, and that the value of the assets covered by the specific charges drops in the interim.

So overall, going with the borrower's plan seems from our perspective to be a case of plus ca change: if the deal is broken we can still step in with regard to the PG.

This is just my non-expert POV.

Over the pink pages AC have stated that they would not have put the option forward if they did not believe it to be credible.

Totally agree. What the heck do they think they're doing -- answering questions from lenders; giving opinions, when asked, within the limits of confidentiality; patiently discussing aspects and internal behaviour of their systems as far as commercial constraints will allow. It's absolutely disgraceful. I for one am instantly selling all my holdings and taking my money to Ratesetter -- at least they've learned how to clam up.


(I don't really need an emoticon here, do I?)

I'd like to make a statement (subject to the restrictions of my compliance team).

I wan to say that                                                                                        and that I take                                                            .  I understand that it will come as a shock saying this but the                                                         apples and oranges.   Sometimes                                                             but they cant and                                                                 cabbage.


I hope that makes sense.

The new AC proof reader refused to allow the word "wanna". AH is of kockyng is/'er urse rite noo.

Cant - noun hypocritical and sanctimonious talk, typically of a moral, religious, or political nature