ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,335 
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Post by ilmoro on Sept 11, 2018 12:49:10 GMT
Well you have an open invitation from Paul to give them a ring and ask (might have to sign an NDA as I suspect that Lendy are keeping details of this one close to chest for legal reasons)
You might like to have a look at AC loan #327.
Meanwhile their other central Liverpool project (SP) is complete so hopefully so funds will flow the other way shortly
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wuzimu
Member of DD Central
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Post by wuzimu on Sept 11, 2018 13:02:20 GMT
I think we could be in for some news that there are many more UN1 holders who got registered before Lendy got its first charge lodged, than just the three (total ~£190k) listed on the Administrators rpt.
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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: 11,335
Likes: 11,558
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Post by ilmoro on Sept 11, 2018 13:08:22 GMT
I think we could be in for some news that there are many more UN1 holders who got registered before Lendy got its first charge lodged, than just the three (total ~£190k) listed on the Administrators rpt.
Thats easily verified by a simple LR check for £3 which the admin will have done. So unless there have been errors on the register for more than 2 years seems unlikely.
More interesting is why Lendy have 6 charges registered
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empirica
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Post by empirica on Sept 11, 2018 13:13:06 GMT
Well you have an open invitation from Paul to give them a ring and ask (might have to sign an NDA as I suspect that Lendy are keeping details of this one close to chest for legal reasons) Would you have to demonstrate that you are an actual investor in the loan?
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wuzimu
Member of DD Central
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Post by wuzimu on Sept 11, 2018 13:16:08 GMT
Ref Assetz 237, thankfully no skin.
Ref LR , not checked, as you say what is on there is all that matters.
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Post by Please turn me over on Sept 15, 2018 18:18:24 GMT
The Creditors' Committee meets this Tuesday in Liverpool. I assume that a representative of Lendy will attend.
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Post by Please turn me over on Sept 16, 2018 22:16:46 GMT
Mr T is attending the CC meeting on Tuesday. I would love to be a fly on the wall during that one.
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dp
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Post by dp on Sept 17, 2018 14:00:05 GMT
Article in Liverpool Echo, published yesterday 16th September.
Look up newspaper name and project name and its first hit on Google.
Valued @ 8million.
Article slightly alarmist to say the least.
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Post by Please turn me over on Sept 17, 2018 14:50:38 GMT
This tower block is effectively owned by Lendy investors. Why/How does the press know what it's worth and we don't? I don't believe that the press has any more information than we do. The £8m value is from the administrators' proposal that's been publicly available on CH since 31 August 2018. That figure is based on a book value from the company's filed accounts to 31 December 2016 and thus may be outdated.
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james21
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Post by james21 on Sept 17, 2018 15:03:14 GMT
This tower block is effectively owned by Lendy investors. Why/How does the press know what it's worth and we don't? The possible valuation is in the administrators report
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withnell
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Post by withnell on Sept 17, 2018 15:49:13 GMT
This tower block is effectively owned by Lendy investors. Why/How does the press know what it's worth and we don't? I don't believe that the press has any more information than we do. The £8m value is from the administrators' proposal that's been publicly available on CH since 31 August 2018. That figure is based on a book value from the company's filed accounts to 31 December 2016 and thus may be outdated. I think the point being made is that Lendy haven't put any kind of update against the loan regarding the publication of the administrators report. To my mind that's a material piece of information that shouldn't have to wait for the monthly update; and in fact should have featured in the end of August update as Lendy would have the reports prior to CH publishing it
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elliotn
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Post by elliotn on Sept 17, 2018 16:25:43 GMT
This tower block is effectively owned by Lendy investors. Why/How does the press know what it's worth and we don't? Administrator’s report is public knowledge. Edit - crossed with above, there have been many posts about this report.
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will
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Post by will on Sept 18, 2018 9:04:31 GMT
That figure is based on a book value from the company's filed accounts to 31 December 2016 and thus may be outdated. It's safe to say that a lot has changed since 2016! Here's a pic from back then. 
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withnell
Member of DD Central
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Post by withnell on Sept 18, 2018 9:21:52 GMT
I'm not too worried about the valuation on this one from a lender perspective, but I do feel sorry for those who are going to have a significant haircut on their deposits
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p2pete
Member of DD Central
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Post by p2pete on Sept 18, 2018 9:41:53 GMT
What happened to the £10m in deposits that the borrower took from buyers?
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