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Post by GSV3MIaC on May 27, 2019 19:09:23 GMT
tower? forget it, those days hiding the names have long gone, get real!
/Mod hat on
Actually not .. the rules remain the same, don't ID the borrower or the asset on this open forum.
There is plenty of scope for legal action, from borrowers, agents, and anyone else libeled herein. Putting LY into administration doesn't remove those risks .. may even increase them.
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Post by meg on May 27, 2019 19:57:57 GMT
I wrote to the administrators this morning regarding DFL012 to make this point that these should be ring-fenced funds. Might be helpful if others who are equally concerned do the same. The problem will be if the funds hit Lendy's normal business account rather than a segregated client account. That shouldn't have happened, but could have. Would you be able to pm me what you wrote and the email address so I can send something in on holiday and could knock it together quickly Me too please. Also on holiday but happy to write a letter.
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Post by mot on May 27, 2019 20:31:39 GMT
Yep! Done that as well 🤞
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Post by philhove on May 28, 2019 9:53:06 GMT
i Have £4.1K invested in this, what I thought was a safe prestigious, Liverpool new Tower Block! Anyone know where I can find out what the property sold for?
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Post by GSV3MIaC on May 28, 2019 11:01:08 GMT
You can likely found out what it sold for, but the more interesting number is what is headed towards the lenders, after LY have had their cut (and maybe the administrators too). There may also be some discussions as to whether the sale price was legitimate, given LY seem overly involved in the project. The sale price may also not be the 'full and final settlement'.
Don't hold your breath, this could run and run ..
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Post by Companion Cube on May 28, 2019 11:40:45 GMT
You can likely found out what it sold for, but the more interesting number is what is headed towards the lenders, after LY have had their cut (and maybe the administrators too). There may also be some discussions as to whether the sale price was legitimate, given LY seem overly involved in the project. The sale price may also not be the 'full and final settlement'.
Don't hold your breath, this could run and run ..
Oo oo, I know this one. It's zero. The timing of the sale and entering administration are very suspicious. I want to be wrong about this but this feels like a parting FU from Lendy.
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averageguy
Member of DD Central
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Post by averageguy on May 28, 2019 11:43:13 GMT
You can likely found out what it sold for, but the more interesting number is what is headed towards the lenders, after LY have had their cut (and maybe the administrators too). There may also be some discussions as to whether the sale price was legitimate, given LY seem overly involved in the project. The sale price may also not be the 'full and final settlement'.
Don't hold your breath, this could run and run ..
The admins got their cut last Monday
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iRobot
Member of DD Central
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Post by iRobot on May 28, 2019 12:18:04 GMT
You can likely found out what it sold for, but the more interesting number is what is headed towards the lenders, after LY have had their cut (and maybe the administrators too). There may also be some discussions as to whether the sale price was legitimate, given LY seem overly involved in the project. The sale price may also not be the 'full and final settlement'.
Don't hold your breath, this could run and run ..
The admins got their cut last Monday Care needed around quantifying and qualifying who is being referred to, I'd suggest. For example I believe GSV3MIaC is referring to the Administrators, RSM given lats Friday's announcement and averageguy is referring to the LPA Receivers, Quantuma who were dealing with the disposal of the 'Tower'. So not the same party. Correct?
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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 May 28, 2019 14:10:34 GMT
The admins got their cut last Monday Care needed around quantifying and qualifying who is being referred to, I'd suggest. For example I believe GSV3MIaC is referring to the Administrators, RSM given lats Friday's announcement and averageguy is referring to the LPA Receivers, Quantuma who were dealing with the disposal of the 'Tower'. So not the same party. Correct? Probably, but Quantuma are administrators not receivers i.e. not just there to realise the fixed asset security so a continuing role beyond the sale of the tower. Also rarely are all proceeds distributed at once, usually there is a retention to allow final bills, vat etc to be finalised.
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averageguy
Member of DD Central
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Post by averageguy on May 28, 2019 14:25:31 GMT
The admins got their cut last Monday Care needed around quantifying and qualifying who is being referred to, I'd suggest. For example I believe GSV3MIaC is referring to the Administrators, RSM given lats Friday's announcement and averageguy is referring to the LPA Receivers, Quantuma who were dealing with the disposal of the 'Tower'. So not the same party. Correct? I was referring to Q ...yes I should have clarified my statement
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averageguy
Member of DD Central
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Post by averageguy on May 28, 2019 14:26:39 GMT
Care needed around quantifying and qualifying who is being referred to, I'd suggest. For example I believe GSV3MIaC is referring to the Administrators, RSM given lats Friday's announcement and averageguy is referring to the LPA Receivers, Quantuma who were dealing with the disposal of the 'Tower'. So not the same party. Correct? Probably, but Quantuma are administrators not receivers i.e. not just there to realise the fixed asset security so a continuing role beyond the sale of the tower. Also rarely are all proceeds distributed at once, usually there is a retention to allow final bills, vat etc to be finalised. Going by my conversation with someone at Q they have had all they expected ..but then maybe he didn’t clarify his comment
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Post by mot on Jun 7, 2019 16:53:23 GMT
🤞H******** sale cash gets found in separate account too.... where “it” was supposed to be, although what we’d get back following cut price sale then fees deducted is anyone’s guess !
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cwah
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Post by cwah on Jun 7, 2019 17:50:33 GMT
HQ tower being the only source of cash administrators and the staff have.. i wonder how much they'd take out?
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averageguy
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Post by averageguy on Jun 7, 2019 19:14:38 GMT
HQ tower being the only source of cash administrators and the staff have.. i wonder how much they'd take out? How do you know it is?
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cwah
Member of DD Central
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Post by cwah on Jun 7, 2019 21:48:52 GMT
HQ tower being the only source of cash administrators and the staff have.. i wonder how much they'd take out? How do you know it is? I don't know. But there must be a reason they are keeping the cash. And no one is working for free as well. They have to be paid somehow
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