upperdeane
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Post by upperdeane on Dec 7, 2019 13:53:55 GMT
I've run out of fingers to cross hoping for a positive(ish) outcome on this. Now hoping for some much needed Christmas cheer! Indeed, we need lots of these P2P presents... 
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neeps
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Post by neeps on Dec 13, 2019 14:19:13 GMT
Significant update on the website. Won't please everyone but HeyHoe!!
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upperdeane
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Post by upperdeane on Dec 13, 2019 14:28:24 GMT
Significant update on the website. Won't please everyone but HeyHoe!! Wow - extension to June 2020.
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Post by GSV3MIaC on Dec 13, 2019 14:59:57 GMT
Subject to us not being torqued around again on interest payments. Based on history I am not totally confident..
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corto
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Post by corto on Dec 13, 2019 15:21:53 GMT
I'd say we see by the end of the month if there is a chance.
If so, it's better news than I'd have ever expected at this point.
I especially like that the plan seems to imply the borrower is still serious.
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Post by marcusponds on Dec 13, 2019 16:12:09 GMT
I'd say we see by the end of the month if there is a chance. If so, it's better news than I'd have ever expected at this point. I especially like that the plan seems to imply the borrower is still serious. Surprised me too! Let's hope December brings the 50%.
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upperdeane
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Post by upperdeane on Dec 13, 2019 16:28:12 GMT
I'd say we see by the end of the month if there is a chance. If so, it's better news than I'd have ever expected at this point. I especially like that the plan seems to imply the borrower is still serious. Surprised me too! Let's hope December brings the 50%. I hope so. I can't remember when interest was last paid. Anyone remember?
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upperdeane
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Post by upperdeane on Dec 13, 2019 16:44:32 GMT
Very strange. Loan part purchase on Dec 10th Apparently?
£15,000.00. 10/12/2019 14:09:22
How can that be?
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Post by brianac on Dec 13, 2019 17:21:24 GMT
I especially like that the plan seems to imply the borrower is still serious. <Cynical mode "on">
Sounds to me like the remaining "interested party" backed out too. question is, what is the borrower serious about, prolonging this charade another 6 months? And as for "still" ... words fail me (was he ever?)
or really getting down to it and completing the project? (I doubt that, going on past updates) Can, Road, Kicked, Again! Since May 2018 (can must be pretty battered by now)
<Cynical mode> - staying on until june 2020 - at least. (maybe that's optimistic?)
Brian
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sam i am
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Post by sam i am on Dec 13, 2019 17:36:11 GMT
And adding my own cynicism, it will be interesting to see what happens if (when) the borrower doesn't pay up this month.
MT has a long history of offering extensions on the basis of strict conditions - only to relent when the conditions are not met and grant the extension anyway.
Maybe being in wind-down mode might force the issue a bit quicker. If they're closing the shop they may have more incentive to be tough on recalcitrant borrowers so they can switch off the lights and lock the door sooner.
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tony9239
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Post by tony9239 on Dec 13, 2019 17:52:11 GMT
I especially like that the plan seems to imply the borrower is still serious. <Cynical mode "on">
Sounds to me like the remaining "interested party" backed out too. question is, what is the borrower serious about, prolonging this charade another 6 months? And as for "still" ... words fail me (was he ever?)
or really getting down to it and completing the project? (I doubt that, going on past updates) Can, Road, Kicked, Again! Since May 2018 (can must be pretty battered by now)
<Cynical mode> - staying on until june 2020 - at least. (maybe that's optimistic?)
Brian
The way i read the update, MT still refers to "the buyer" rather than "borrower", so this implies it may be a different party - though could be "related" of course, we don't know. However, i agree the deal to settle outstanding interest sounds just like the last "agreement" from which we never saw a penny. Interest not paid since 29 May 2019. Let's hope for more success this time but just not sure what teeth MT have if no outstanding interest is paid. Borrowers & their advisers know MT in wind down and its position is weak.
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averageguy
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Post by averageguy on Dec 13, 2019 21:20:43 GMT
<Cynical mode "on">
Sounds to me like the remaining "interested party" backed out too. question is, what is the borrower serious about, prolonging this charade another 6 months? And as for "still" ... words fail me (was he ever?)
or really getting down to it and completing the project? (I doubt that, going on past updates) Can, Road, Kicked, Again! Since May 2018 (can must be pretty battered by now)
<Cynical mode> - staying on until june 2020 - at least. (maybe that's optimistic?)
Brian
The way i read the update, MT still refers to "the buyer" rather than "borrower", so this implies it may be a different party - though could be "related" of course, we don't know. However, i agree the deal to settle outstanding interest sounds just like the last "agreement" from which we never saw a penny. Interest not paid since 29 May 2019. Let's hope for more success this time but just not sure what teeth MT have if no outstanding interest is paid. Borrowers & their advisers know MT in wind down and its position is weak. My understanding is that it is a different buyer ...they’d already indicated the original one was too committed elsewhere. ...as they said it’s a judgement call and given the time of year I don’t see anything is lost by giving them a couple of weeks to come up with the interest ....MT do have “teeth” to use..they’ve said themselves that they can appoint a receiver if it comes to it.
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Post by brianac on Dec 14, 2019 8:31:42 GMT
My understanding is that it is a different buyer ...they’d already indicated the original one was too committed elsewhere. ...as they said it’s a judgement call and given the time of year I don’t see anything is lost by giving them a couple of weeks to come up with the interest ....MT do have “teeth” to use..they’ve said themselves that they can appoint a receiver if it comes to it. They've extended the loan, so it must be original borrower doing the work, different buyer would surely need a new contract, and thus a new loan? I'd be worried if they'd extended the loan to a different party. <edit> just re -read update, they are indeed talking about Buyer, surely new party needs a new contract? Brian
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averageguy
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Post by averageguy on Dec 14, 2019 9:28:11 GMT
My understanding is that it is a different buyer ...they’d already indicated the original one was too committed elsewhere. ...as they said it’s a judgement call and given the time of year I don’t see anything is lost by giving them a couple of weeks to come up with the interest ....MT do have “teeth” to use..they’ve said themselves that they can appoint a receiver if it comes to it. They've extended the loan, so it must be original borrower doing the work, different buyer would surely need a new contract, and thus a new loan? I'd be worried if they'd extended the loan to a different party. <edit> just re -read update, they are indeed talking about Buyer, surely new party needs a new contract? Brian
Perhaps an email to MT for clarification? ....I thought the update 201119 shows it was another interested party
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corto
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Post by corto on Dec 14, 2019 9:32:38 GMT
They talked to buyer and borrower in the past. The first seemed more cooperative.
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