TitoPuente
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Post by TitoPuente on Sept 24, 2020 13:10:57 GMT
Correct me if I am wrong: As a connected party, they would only be able to lawfully purchase the asset after repaying the outstanding debt.
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averageguy
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Post by averageguy on Sept 24, 2020 13:33:14 GMT
Correct me if I am wrong: As a connected party, they would only be able to lawfully purchase the asset after repaying the outstanding debt. How an earth have they raised capital to purchase another site
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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 Sept 24, 2020 15:14:20 GMT
Correct me if I am wrong: As a connected party, they would only be able to lawfully purchase the asset after repaying the outstanding debt. Not sure thats true. Look at all the pre-pack administrations, where a newco that is effectively a phoenix of the oldco buys the assets in exchange for partial or no repayment of the debts due.
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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 Sept 24, 2020 15:24:51 GMT
Correct me if I am wrong: As a connected party, they would only be able to lawfully purchase the asset after repaying the outstanding debt. How an earth have they raised capital to purchase another site Same way as they were supposed to be raising capital to purchase/redeem the original site, through the bond. They are a separate entity to the borrower and have disassociated themselves from it.
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averageguy
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Post by averageguy on Sept 24, 2020 16:48:08 GMT
How an earth have they raised capital to purchase another site Same way as they were supposed to be raising capital to purchase/redeem the original site, through the bond. They are a separate entity to the borrower and have disassociated themselves from it. Separate entity but same people?
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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 Sept 24, 2020 17:13:27 GMT
Same way as they were supposed to be raising capital to purchase/redeem the original site, through the bond. They are a separate entity to the borrower and have disassociated themselves from it. Separate entity but same people? Not any more it seems, they were a subsiduary of the borrower but now have separate shareholder (though the exchange info doesnt reflect that). There is one common director.
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vmw
New Member
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Post by vmw on Sept 25, 2020 14:09:14 GMT
I have significant exposure on this loan and am very unhappy with the way it has played out in last 18 months and more recently.
Is anyone interested in setting up a lobby group of major investors to monitor and scrutinise MT & Moorfields actions to recover
our hard earned cash ,I feel like we are being treated like mushrooms !!
There is something not right with the background to this loan, how it was able to drawn down funds to complete works that we
have never had sight of and how MT encouraged new money to be invested to fund site preparation.
Hope one of you experienced investors out there, also with a lot to loose, will put forward how a lobby group or similar could
be set so our voices are heard and hopefully considered ?
Thanks
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Post by waryinvestor on Sept 27, 2020 12:01:21 GMT
I'd support such thing, at least a Facebook Group to start with ?
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Post by Badly Drawn Stickman on Sept 27, 2020 12:53:37 GMT
If only the Tolpuddle Martyrs had have had access to a facebook group, what a grand World we would have now.
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archie
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Post by archie on Nov 30, 2020 9:00:53 GMT
A second series of bonds admitted to the exchange.
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derbyfella
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Post by derbyfella on Dec 1, 2020 22:23:08 GMT
A second series of bonds admitted to the exchange. What does that mean Archie?
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rocky1
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Post by rocky1 on Dec 2, 2020 3:43:12 GMT
I think he is trying to do a Wellesley. big capital losses coming on this one. good earner for MT though.
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archie
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Post by archie on Dec 2, 2020 7:27:45 GMT
A second series of bonds admitted to the exchange. What does that mean Archie? In the grand scheme of things probably nothing. I think they'd still like our site back but for less than they owe.
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Post by angel19 on Dec 2, 2020 9:57:43 GMT
In the last B******** trading statement they said they are acquiring a property at B******** M****** for £500k. That is £50k deposit and 12 monthly instalments. Sounds suspiciously like the land already held by lenders through MT. But of course it can’t be, can it?
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micky
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Post by micky on Dec 2, 2020 10:15:33 GMT
Bonds where meant to repay the management fees first and then our loan next I thought. I'm guessing that the change in company name and administration for the old one means that they can game the system and not do this.
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