sundown
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Post by sundown on Mar 25, 2021 17:12:28 GMT
Do you know for sure that the funds in the suspense account are for this loan, or if not what loan they relate to? The £110,668 has sat in the suspense account since at least April 2020, and the funds from the sale of the tower block since at least September 2020. A report from the solicitor promised on 30 September is still to materialise so it's high time we had an update on this. No. They related to a C**** **3 which is a dissolved company FS never appear to have lent money. So then we are left guessing which loan it relates to. I dont remember why I picked this one but probably the wrong one now. Suspense account in April held undefined £114k. The suspense account mentioned in the administrators' progress report of Nov 2020 held £110,668.88. Anyone have any idea which loan this relates to?
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Apr 1, 2021 11:53:00 GMT
Guessing slightly but there is £110,668 sat in the suspense account pending a challenge by the borrower (same as tower block) to the receiver appointment. Im guessing that the funds relate to this loan. ilmoro Probably not this loan. There is £114,000 held as an interim payment from receivers on loan 2175354900. "The Receivers, Avison Young completed a sale of the property on 28 February 2020 at a sale price of £205,000 and we have received an interim payment of £114,000 from Avison Young. The borrower has however brought a claim challenging the Receivers appointment. These funds will therefore be held in a suspense account whilst the claim received from the borrower is reviewed and resolved by our solicitor. A further update will be made once the position has been clarified and the issue resolved."
In my opinion the borrower has a good case, because the receivers seem to have sold the plot cheaply. I have been to view the plot. I also believe C&G have serious issues with these receivers, who entered into agreement with a former director of FS, on poor terms that cannot be nullified. Yet another level of incompetence by a P2P platform.
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ilmoro
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'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 Apr 1, 2021 12:25:44 GMT
Guessing slightly but there is £110,668 sat in the suspense account pending a challenge by the borrower (same as tower block) to the receiver appointment. Im guessing that the funds relate to this loan. ilmoro Probably not this loan. There is £114,000 held as an interim payment from receivers on loan 2175354900. "The Receivers, Avison Young completed a sale of the property on 28 February 2020 at a sale price of £205,000 and we have received an interim payment of £114,000 from Avison Young. The borrower has however brought a claim challenging the Receivers appointment. These funds will therefore be held in a suspense account whilst the claim received from the borrower is reviewed and resolved by our solicitor. A further update will be made once the position has been clarified and the issue resolved."
In my opinion the borrower has a good case, because the receivers seem to have sold the plot cheaply. I have been to view the plot. I also believe C&G have serious issues with these receivers, who entered into agreement with a former director of FS, on poor terms that cannot be nullified. Yet another level of incompetence by a P2P platform. Thanks. Yeah, think Id worked out it was the wrong loan but as there are no receivers appointed over the H*** Rd loan at CH didnt have the information to determine which loan its was on the basis of the admin report, 'C**** 3' appears meaningless. Next question is what happened to the £3332 not in the suspense account?
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adrian77
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Post by adrian77 on Apr 1, 2021 19:20:49 GMT
You what ! Can we have a clue which director it was - strikes there is at least a case here for taking legal advice...
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