corto
Member of DD Central
one-syllabistic
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Post by corto on Aug 31, 2020 11:48:03 GMT
Update 28/8: ...reasonable progress was made with respect to the sale.. talks with TC ongoing
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ptr120
Member of DD Central
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Post by ptr120 on Sept 9, 2020 15:07:23 GMT
A significant update just posted (you know, the type that makes your heart sink - it is one of those)
I think it is clear that their plan to wind down the platform over twelve months isn't going to happen.
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Post by Badly Drawn Stickman on Sept 9, 2020 15:49:13 GMT
A significant update just posted (you know, the type that makes your heart sink - it is one of those) I think it is clear that their plan to wind down the platform over twelve months isn't going to happen. For a brief few seconds when I saw the email I thought it had repaid, I will treasure that feeling. Not really that much of a surprise and I suspect it wont be the last.
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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
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Post by ilmoro on Nov 16, 2020 20:00:31 GMT
Apparently forgetting that they are allegedly supposed to be kicking the can and dragging things out to earn fees, it appears that MT have somewhat precipitously filed a debt claim against the director/principal. Perhaps more importantly the directors have appointed administrators (CH filings) which may have impact on the recovery as administrators have the power to ask receivers to vacate office. It also means that the interests of other creditors will be taken into account rather than just MT & TC. However, the recovery process may be more visible than with just receivers as administrators have to publish proposals/reports on CH whereas receivers dont, just accounts.
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cedarcourtcapital
Member of DD Central
Listening is not the same as understanding
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Post by cedarcourtcapital on Nov 16, 2020 22:52:24 GMT
Apparently forgetting that they are allegedly supposed to be kicking the can and dragging things out to earn fees, it appears that MT have somewhat precipitously filed a debt claim against the director/principal. Perhaps more importantly the directors have appointed administrators (CH filings) which may have impact on the recovery as administrators have the power to ask receivers to vacate office. It also means that the interests of other creditors will be taken into account rather than just MT & TC. However, the recovery process may be more visible than with just receivers as administrators have to publish proposals/reports on CH whereas receivers dont, just accounts. What's your point?
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TitoPuente
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Post by TitoPuente on Dec 16, 2020 13:16:14 GMT
The AM01 date of appointment is 21/10/2020 so today is the Proposal's deadline, if I am correct.
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TitoPuente
Member of DD Central
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Post by TitoPuente on Dec 21, 2020 11:51:08 GMT
Admin Proposal available at CH. Receivers valuation at £500k versus MT original valuation at £4.5m TC owed £2.8m and MT £1.07m (assumed to include interests and penalties). So there you have it.
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TitoPuente
Member of DD Central
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Post by TitoPuente on May 28, 2021 12:46:09 GMT
Progress report available.
Drafted with manifest contempt. Property sold on 29 April. No details disclosed because the date is after the statutory reporting period. No new useful information. Lots of paperwork done to rack up fees. Appalling.
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78
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Post by 78 on Jun 1, 2021 13:23:54 GMT
sale price £1m loan shared with thincats (thincats loan 1A £1.505m)
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Mousey
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Post by Mousey on Sept 14, 2021 20:01:52 GMT
In court tomorrow. I understand this is a Part 7 Breach of Contract Claim. PM me if you're happy to contribute towards some blogging about the case.
In The County Court and The Family Court at Leeds
Wednesday 15 September 2021
Before District Judge Pema
10:00 AM
BL-2021-LDS-******
Moneything (Security Trustee) Ltd -v- ****Borrowing Company Director
Costs Case Management Conference 1 day Teams
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