adrian77
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Post by adrian77 on Mar 26, 2017 9:41:16 GMT
On the current market place there is a Scottish logistic company with an existing (and other) loans. Does anybody know the id of the FC company
Existing Outstanding Loans Amount outstanding Monthly payment
Funding Circle 160000 6000
L****** C***** 50000 1623
below is interesting
<link removed by Mod>
thanks a lot
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Post by Butch Cassidy on Mar 26, 2017 10:02:53 GMT
I certainly had some on FC under 12956 (launched June/July 2015) Band D @ 14.8% & also 9272 (launched Jan 2015) Band D @ 14.6% - not sure if I sold them or perhaps they were replaced via a new loan as I no longer hold it.
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Post by Deleted on Mar 27, 2017 14:19:48 GMT
I have been able to read the article of interest (per link now redacted as stated above) and have also retained the link to the relevant article. Without breaking Borrower confidentiality it would seem that NO part of this Haulage Company Group currently possess an Operator's Licence to run Goods Vehicles legally within the United Kingdom. I will not digress to the legalities surrounding the relevant Traffic Commissioner's (TC's) findings Nor the TC's separate ruling dating back to 2011 but the most recent revocation of an O-Licence relating to a Sister Company has just resulted in a Five year disqualification effective from the Xth of December last. The O-Licence: What is an operator's licence?
An operator's licence (or O licence) is the legal authority needed to operate goods vehicles in Great Britain. A licence is issued by the Traffic Commissioner – the independent regulator of the commercial road transport industry; a Traffic Commissioner also has powers to take regulatory action against a licence holder where they fail to meet the expected standards of operation. This action includes curtailment (limiting or reducing the number of vehicles an operator is able to operate), suspension (temporarily stopping operations) or revocation (permanently removing an operator’s licence to operate commercial vehicles). Link for further Public Domain and (Borrower) Non Specific information:
www.fta.co.uk/policy_and_compliance/road/vehicles/olicensing.htmlTo summarise: Without a valid O-licence a Haulage Company cannot legally operate it's vehicles. Questions:1) Were these key issues discovered during ReBS's pre-lending underwriting checks? 2) What key disclosure information was provided to ReBS lenders at the time of listing this loan request? Edit 27/03/2017 @22:03 hrs : I am in a position to confirm that ReBS made No disclosure of this key information for prospective lenders to this loan request at the time it went live, no supplementary provided by ReBS since; Auction is continuing at this time. it is to the best of my understanding that adrian77 posted the key informational link to an Auction thread together with some pertinent questions addressed to the Borrower, it is also to best of my understanding that currently these questions remain outstanding.2.1) Why has ReBS not felt it appropriate to respond in light of this information?
Edit 28/03/2017 @18:22 hrs : Delighted to confirm that this application has been cancelled by ReBS, due credit Must be given to the Platform Management for taking this important decision in light of the excellent due diligence performed by adrian77 who has played a key role in safeguarding lender funds.3) What impact would the lack of an O-Licence have (if any) have upon this (Grouped) Business's ability to run Haulage and generate an income to meet any financial obligations?
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adrian77
Member of DD Central
Posts: 3,917
Likes: 4,144
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Post by adrian77 on Mar 28, 2017 9:17:54 GMT
Well this is an interesting one - wonder if it will fill!
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