jhamster
Member of DD Central
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Post by jhamster on Nov 8, 2019 13:44:02 GMT
I've not even received this payment yet, there are several of us in the withdrawal thread who have received no pennies.  |
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Nov 8, 2019 13:47:18 GMT
Yikes! not good. Is this level of investment representative across a number of Lendy loans or did you put all your eggs in a somewhat risky basket? Across a number of others, equally as bad. Ouch! I really feel for you. Have you joined the Lendy Action Group? It might well be worth it if you haven't if only to keep fully informed of "progress". A number of guys on there are working hard on behalf of us all.
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jhamster
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Post by jhamster on Nov 8, 2019 13:49:56 GMT
Yeah I signed up to it back in the summer and have been lurking, but there isn't anything that can be done right now. Considering action against LB for misrepresentation, but I'll leave it there for now.
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garfield
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Post by garfield on Nov 8, 2019 13:51:23 GMT
Across a number of others, equally as bad. Ouch! I really feel for you. Have you joined the Lendy Action Group? It might well be worth it if you haven't if only to keep fully informed of "progress". A number of guys on there are working hard on behalf of us all. Big ouch!! Yes, do join LAG. There's a poll on the home page showing others in a similar position. The team would be happy to hear from you and share experiences. Good luck!
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Post by rhea117 on Nov 8, 2019 14:00:53 GMT
Yeah I signed up to it back in the summer and have been lurking, but there isn't anything that can be done right now. Considering action against LB for misrepresentation, but I'll leave it there for now. Yep, when RSM has done their job and closed the books, class action v LB (and maybe FCA) should be discussed. The legal firm Hugh James should be contacted, they know all about him! I want to hound that man for decades!
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jhamster
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Post by jhamster on Nov 14, 2019 19:04:26 GMT
<Liverpool echo link redacted as it names borrower and ID's the asset>
P******** to shut down after finishing controversial stalled schemes to avoid 'flogging a dead horse'
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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 14, 2019 20:01:36 GMT
<Liverpool echo link redacted as it names borrower and ID's the asset> Firsts**te to shut down after finishing controversial stalled schemes to avoid 'flogging a dead horse' Presumably so they can concentrate on all the parties pursuing them under corporate guarantees ... & their principals PG
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Post by vfr800 on Nov 15, 2019 8:12:58 GMT
Have you read the comments in the Echo.
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jhamster
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Post by jhamster on Nov 15, 2019 18:53:01 GMT
Have you read the comments in the Echo. Comments shut down. What did they say?
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Post by vfr800 on Nov 16, 2019 8:11:40 GMT
Have you read the comments in the Echo. Comments shut down. What did they say? Probably cannot say on here, but if you Google the directors name then all sorts come up about his different companies come up. When did a property developer need a body guard! Companies house is a good one, how can you be a director of so many companies at so many addresses! I think we where taken for a right old ride on this one.
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Post by brightspark on Nov 16, 2019 9:52:24 GMT
Similar echoes affair at Liverpool based "S********* L******" featured on the BBC today 'Devastated' hotel investors fly to UK seeking their money - Number of global property investors complaining that repayments have been promised but have not materialised. The message coming loud and clear is avoid investing in property where the company is Liverpool based. I shall follow my own advice henceforth religiously!!!
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Post by billy169 on Nov 16, 2019 9:58:28 GMT
Lendys rigorous due diligence was brilliant, wasn't it.. can't the legal people see that the whole platform was miss sold and corrupted.,,FCA didn't of course.
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Monetus
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Post by Monetus on Dec 19, 2019 17:55:41 GMT
Lendy Distribution Waterfall breakdown figures released in 6 month proposals:
Gross realisation: 7,450,000
Third party costs: 376,675
Costs paid by company: 281,197
Lendy service fee: 189,822
Lendy contractual entitlement: 1,693,975
Investors contractual entitlement: 4,908,331
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jhamster
Member of DD Central
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Post by jhamster on Dec 19, 2019 19:01:00 GMT
Lendy Distribution Waterfall breakdown figures released in 6 month proposals: Gross realisation: 7,450,000
Third party costs: 376,675 Costs paid by company: 281,197 Lendy service fee: 189,822
Lendy contractual entitlement: 1,693,975
Investors contractual entitlement: 4,908,331
If I could afford a train ticket I would throw myself off the platform.
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Post by bracknellboy on Dec 19, 2019 19:54:15 GMT
The Lendy contractual entitlement in this waterfall structure has surely ultimately got to be viewed as unenforceable ? It put Lendy's own interests in direct conflict with the investor's they were acting as an agent for. No wonder we were getting complete and utter garbage from them in the form of loan updates.
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