mah
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Post by mah on Jan 24, 2021 19:07:08 GMT
In the case of FS, the Investors contributed to seek legal opinions and then voted to include Lending Members to the 5 member Committee. Apart from that, Lenders complained to FCA, Insolvency Service, etc.
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rocky1
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Post by rocky1 on Jan 25, 2021 15:59:16 GMT
is anybody else following this borrower on his quest to raise £25 million with 5 year bonds.AQ**S listings for his company gives a good insight to where this is all going. still in discussions to purchase the site that we lent him money for a couple of years ago.also lots of flannel in updates the sort of stuff that many p2p lenders have become accustomed to. I am sure he really has kissed the Blarney Stone.
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Post by marcusponds on Jan 25, 2021 16:02:00 GMT
is anybody else following this borrower on his quest to raise £25 million with 5 year bonds.AQ**S listings for his company gives a good insight to where this is all going. still in discussions to purchase the site that we lent him money for a couple of years ago.also lots of flannel in updates the sort of stuff that many p2p lenders have become accustomed to. I am sure he really has kissed the Blarney Stone. So (he asks naively) if the developer was to somehow be successful, does that mean repayment in full to MT lenders?
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rocky1
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Post by rocky1 on Jan 25, 2021 16:20:58 GMT
I would certainly hope so and with interest. I noticed in one of his updates he states though that he and the lenders MT/us are very far apart and he must think of his companies investors and their best interests going forward.
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shw
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Post by shw on Jan 25, 2021 18:34:10 GMT
Hi Fellow Lenders, comments without prejudice. having read the planning docs it is going to take some really clever work to resubmit,if they can, or even to start again on the planning application. it looks like the buyer/owner who borrowed our hard earned cash,who was eventually excluded from the fund raising,went rogue and demolished the farmhouse and other buildings that were supposed to be part of the development so breaching planning approval. plus it looks like there are big issues with the number of lodges,the layout and the utilities - mainly the sewage and water disposal/management = it's a mess,based on my planning experience. no doubt the investors have offered some ridiculous amount - maybe 50p in the £1 - like other crooked developers = await the vote to loose half our money !! I think we are in for the long haul - even if they raise the funds - lots of BS/errors in their press release too.
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shw
Posts: 51
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Post by shw on Feb 17, 2021 13:19:40 GMT
Companies House update - Director changes at Be******* L****** Re***** PLC * C********* E********* terminated on 15/2/21 - looks like he was an expert lawyer in hospitality sector with some strong connections,maybe feels tarnished !! * K**** A******** appointed 15/2/2021 - looks like he is a property financier expert in short term lending and development finance for brownfield,not farm grass,sites !! Should we wish him well in his endeavours in the HOPE we investors get some cash back out of the B******* L****** (farm estate) debacle
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Post by Please turn me over on Feb 23, 2021 11:49:58 GMT
I seem to be trapped in a crystal ball of my own making, but my best guess is that the first admin's report, due out soon, is going to say that: - to date, the only work undertaken has been the demolition of the existing farm buildings, although four of the buildings remain intact albeit in a dilapidated state;
- there are a number of pre-commencement conditions that have not been discharged;
- the Scottish Government has amended the regulations and due to the ongoing pandemic has extended timeframes; consequently the existing planning permission has been extended until 30 September 2021; and
- S****** has been recently instructed to market the property with a guide price of £1.45m.
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ptr120
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Post by ptr120 on Feb 23, 2021 13:40:48 GMT
- S****** has been recently instructed to market the property with a guide price of £1.45m.
You must've been polishing that crystal ball as I suspect you are fairly accurate. Let us assume that a final sale price of circa 1.2m is agreed - subtract recovery fees and MT management fees (what did they manage exactly?) this loan is set to become a rather significant loss. As a reminder, we were told the asset was worth 4.1M and the loan was c. 2.6M.
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Mar 1, 2021 11:01:28 GMT
This is without doubt the dodgiest loan I can recall seeing offered on MT. I do hope the Things are not losing their grip. Anyone in the Boatyard loan on FS will have seen the difficulties in recovery proceedings in Scotland. I would not be overly surprised if MT pull the loan before launch, but if they don't I will not be participating. Just a reminder. Edit: Pity I did not heed my own warning re the platform, then I might have avoided the Birkenhead disaster.
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mw
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Post by mw on Mar 1, 2021 14:04:05 GMT
According to the platform an update today says it's just been put on the market as of today!
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ptr120
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Post by ptr120 on Mar 1, 2021 15:42:07 GMT
What took 'em so long? Has anyone found details on any of the property sales platforms? I had a look, but couldn't find the 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 Mar 3, 2021 9:25:06 GMT
For those who haven't seen it, the administration report is now available on CH ptr120 the property is now listed on Rightmove for £1.5m
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ptr120
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Post by ptr120 on Mar 3, 2021 11:56:36 GMT
For those who haven't seen it, the administration report is now available on CH ptr120 the property is now listed on Rightmove for £1.5m Thanks ilmoro can you PM a link or post in DD? I'm clearly somewhat 'challenged' in using the search features of Rightmove
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iRobot
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Post by iRobot on Mar 3, 2021 12:05:26 GMT
For those who haven't seen it, the administration report is now available on CH ptr120 the property is now listed on Rightmove for £1.5m Thanks ilmoro can you PM a link or post in DD? I'm clearly somewhat 'challenged' in using the search features of Rightmove Could be you're limiting yourself to Residential? Use the Commercial search page: www.rightmove.co.uk/commercial-property-for-sale.html - and hone in on 'Dumfries and Galloway'; it should be pretty evident.
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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 Mar 3, 2021 12:26:08 GMT
For those who haven't seen it, the administration report is now available on CH ptr120 the property is now listed on Rightmove for £1.5m Thanks ilmoro can you PM a link or post in DD? I'm clearly somewhat 'challenged' in using the search features of Rightmove I just searched the name of the farm - ive posted the link in DD though I note it is now showing as removed by the agent which it wasnt earlier
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