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Post by mrpc on Oct 10, 2021 1:31:36 GMT
mrpc Any update? I know it's been a torrid six months since you were last here, but hopefully spring is just round the corner metaphorically as well as literally... And there was an update on FB, just before the bank holiday. Trading again soon. Finally. Ish. Maybe.  Gawd knows what's kept them so long - everywhere else locally has been trading relatively normally for months, and it certainly can't be because infection rates have fallen, nationally and especially locally... Hello all, Apologies for the lack of update although I would have expected RSM to have kept you informed. Firstly adrianc : Investing considerable sums to reopen a business which relied on an asset that as you know was no longer in my possession and from which we were facing eviction obviously makes no commercial sense... For this reason the decision to reopen was only made once we had successfully refinanced back in August. It would appear that RSM are content with sitting on a seven figure sum that is by rights yours. Why they are doing this is not for me to question. Whilst I appreciated adrianc's initial concern regarding lender confidentiality, as you are now no longer investors in Penrhos Court I believe we are free to discuss the situation in person. In light of recently discovered and potentially criminal activity within the recovery process I am reluctant to speak openly on this forum. I can however be contacted by the means mentioned in previous posts. Wishing you all the very best...
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adrianc
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Post by adrianc on Oct 10, 2021 7:26:14 GMT
For this reason the decision to reopen was only made once we had successfully refinanced back in August. It would appear that RSM are content with sitting on a seven figure sum that is by rights yours. You've refinanced, and paid off the Ly loan in full now? Congratulations!
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jonno
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nil satis nisi optimum
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Post by jonno on Oct 10, 2021 7:55:03 GMT
For this reason the decision to reopen was only made once we had successfully refinanced back in August. It would appear that RSM are content with sitting on a seven figure sum that is by rights yours. You've refinanced, and paid off the Ly loan in full now? Congratulations! Yes, well done mrpc. RSM are in the process of re-establishing a cunning plan to steal as much of our money as they can.
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Post by mrpc on Oct 10, 2021 8:10:21 GMT
For this reason the decision to reopen was only made once we had successfully refinanced back in August. It would appear that RSM are content with sitting on a seven figure sum that is by rights yours. You've refinanced, and paid off the Ly loan in full now? Congratulations! Full repayment of capital borrowed with some interest. The legal and professional fees accrued on my side have dwarfed the shortfall on the full interest repayment. Had RSM been willing to engage with us at the time of their appointment rather than ignoring all attempts at contact, this this sorry saga would have ended on far more favourable terms for us both.
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adrianc
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Post by adrianc on Oct 12, 2021 6:46:10 GMT
You've refinanced, and paid off the Ly loan in full now? Congratulations! Full repayment of capital borrowed with some interest. The legal and professional fees accrued on my side have dwarfed the shortfall on the full interest repayment. Had RSM been willing to engage with us at the time of their appointment rather than ignoring all attempts at contact, this this sorry saga would have ended on far more favourable terms for us both. Do I understand you correctly? It would have been cheaper for you to simply pay in full than to fight paying? And the end result of that expensive pyrrhic victory is that we've not been repaid in full? Jarndyce vs Jarndyce.
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toffeeboy
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Post by toffeeboy on Oct 12, 2021 15:25:06 GMT
Full repayment of capital borrowed with some interest. The legal and professional fees accrued on my side have dwarfed the shortfall on the full interest repayment. Had RSM been willing to engage with us at the time of their appointment rather than ignoring all attempts at contact, this this sorry saga would have ended on far more favourable terms for us both. Do I understand you correctly? It would have been cheaper for you to simply pay in full than to fight paying? And the end result of that expensive pyrrhic victory is that we've not been repaid in full? Jarndyce vs Jarndyce. You missed the part where it is the administrators fault because they were trying to get us all our money back and we should have sympathy for the borrower trying to not pay us.
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Post by mrpc on Oct 12, 2021 20:31:20 GMT
Do I understand you correctly? It would have been cheaper for you to simply pay in full than to fight paying? And the end result of that expensive pyrrhic victory is that we've not been repaid in full? Jarndyce vs Jarndyce. You missed the part where it is the administrators fault because they were trying to get us all our money back and we should have sympathy for the borrower trying to not pay us. You have both misunderstood... My costs have been acrued by way of brokerage fees on deals that both Lendy and RSM have scuppered. (Firstly by Brooke intending to further line his own pockets and secondly by RSM's utter incompetence. Legal fees have been by way of defending court cases Lendy instigated presumably with the view of passing increased costs on to you. More than once I was in a position to repay the entire loan plus interest up to the original redemption date. Again, I invite you to speak to me in person. I am aware of dealings that would have you marching on RSM, pitchforks in hand... Fortunately I am now no longer on the back foot. I am however very angry. In time heads will roll...
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Post by mrpc on Oct 12, 2021 21:34:51 GMT
I would like to add. Toffeeboy: I applaud your ongoing faith in the administration process.
I sincerely hope it bares fruit for you.
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quidco
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Post by quidco on Oct 13, 2021 7:40:16 GMT
I would like to add. Toffeeboy: I applaud your ongoing faith in the administration process. I sincerely hope it bares fruit for you. Thanks for paying back the loan 1248 days late.
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adrianc
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Post by adrianc on Oct 13, 2021 8:11:43 GMT
I would like to add. Toffeeboy: I applaud your ongoing faith in the administration process. I sincerely hope it bares fruit for you. Thanks for paying back most of the loan 1248 days late. FTFY.
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adrianc
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Post by adrianc on Oct 13, 2021 8:18:23 GMT
More than once I was in a position to repay the entire loan plus interest up to the original redemption date. With all due respect, even that is not what you actually ever agreed to do. What you were legally obliged to pay was the entire capital you borrowed plus interest up to the date you fully repaid. That's generally the way borrowing money works, no matter who you borrow it from. "interest up to the original redemption date" is only relevant if you'd repaid on that original redemption date, which was roughly three and a half years ago. Everything after that point only comes into play because you didn't repay the money you borrowed on the original redemption date. Lendy didn't go into administration until roughly a year after you were contractually obliged to repay the money you borrowed. If you'd repaid our money on time, you wouldn't have had to deal with the administrators at all. Court cases only happened because you hadn't repaid the money.
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rocky1
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Post by rocky1 on Oct 13, 2021 13:11:35 GMT
RSM are now holding millions of pounds of lenders monies and are looking for any way they can to maximise their share of these funds and will hold on to it and continue drawing fees /disbursments and anything else they can get away with from the pot.they were happy to extend the admin period for another year when everthing was in their favor as with the other platforms/administrators.not a lot done by any of them up to now and pleading poverty to maintain the grip on our funds.just do what you are being paid for/have been paid forand sort these borrowers out instead of all this seeking court guidance as to whether you can shaft the lenders for even more and charging us for the pleasure of paying your court costs and then the rest of your fees on top.milking it til the end.with no end in sight.
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adrianc
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Post by adrianc on May 5, 2022 13:05:38 GMT
"a beautiful, contemporary and uniquely designed set of eight, self-contained holiday homes of different sizes" opening early spring.
Booking now open, with photos, on their website.
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