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Post by scores on Dec 20, 2019 20:28:48 GMT
Haven't we heard this yarn before ? Some investment house from the Netherlands promising to fund a loan and then re-niaging on their promise. Maybe money from Netherlands,neverlands.😕
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averageguy
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Post by averageguy on Dec 20, 2019 21:34:57 GMT
MT ...was the question posed to this investment house why funds have not been sent.......weren’t we told some time ago that various parties had pledged monies to invest in the project .....what undertaking is there in place to make sure any such funds received will be paid to MT
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ant1
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Post by ant1 on Dec 21, 2019 11:09:56 GMT
maybe they are using the same firm to transfer the money as the Liverpool loan?
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sj
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Post by sj on Dec 22, 2019 15:22:47 GMT
The use of phrases like "following board approval" and "it is our intention to" is pretty much the opposite to any kind of promise or pledge. I certainly did not expect this funding house to proceed as they had optimistically suggested within the timeframe mentioned, maybe they will in a few weeks or months but that will be a pleasant surprise when it happens (I imply that there's a chance that they will never fund it of course). Regarding "Letters of Commitment", are these legally binding documents? If not then they're not worth the paper they are written on. And who were these letters received by? MT or AH (or Druces, but they probably just made it all up like everything else)? Bet they're just napkins with and "IOU 10mil LOL" on them
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withnell
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Post by withnell on Dec 23, 2019 9:22:51 GMT
There's a lot of money that's gone on setting up a listing - set up PLC, several London professional advisors, if the borrower was trying to get out of the loan there are much cheaper ways of doing so
We're receiving a decent rate of interest on this (albeit yet to be paid) and the risk of the overall project is, in my opinion, significantly lower than when the loans were first offered on the platform!
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robski
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Post by robski on Jan 7, 2020 9:40:14 GMT
Hopefully some movement in this one soon
MT should be getting ready to place a shot over the bow on this one, there is clearly plenty of value there to satisfy the loan and they would lose a lot if it was called in, that should help to keep them sharp that this isn't a feel free to repay at some point when you feel like it situation
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averageguy
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Post by averageguy on Jan 7, 2020 12:25:37 GMT
Hopefully some movement in this one soon MT should be getting ready to place a shot over the bow on this one, there is clearly plenty of value there to satisfy the loan and they would lose a lot if it was called in, that should help to keep them sharp that this isn't a feel free to repay at some point when you feel like it situation Agreed .. I emailed MT for an update yesterday..this borrower has basically run the show for the last year ...where is all this promised investment? Time to set deadlines ..issue a FD and give them two weeks and no more
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averageguy
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Post by averageguy on Jan 7, 2020 12:25:51 GMT
Hopefully some movement in this one soon MT should be getting ready to place a shot over the bow on this one, there is clearly plenty of value there to satisfy the loan and they would lose a lot if it was called in, that should help to keep them sharp that this isn't a feel free to repay at some point when you feel like it situation Edited ..duplicate post
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keystone
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Post by keystone on Jan 8, 2020 18:12:54 GMT
Pretty much sums up the progress reports on this investment.
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archie
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Post by archie on Jan 9, 2020 7:16:21 GMT
Some movement, unfortunately just the removal of the two £1 parts that were for sale.
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squid
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Post by squid on Jan 9, 2020 8:23:34 GMT
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KoR_Wraith
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Post by KoR_Wraith on Jan 9, 2020 13:16:33 GMT
One assumes that institutional investment is still expected but that funds have not as yet arrived. I trust MT to update us as and when there is new information/a change to the situation.
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averageguy
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Post by averageguy on Jan 9, 2020 13:53:17 GMT
One assumes that institutional investment is still expected but that funds have not as yet arrived. I trust MT to update us as and when there is new information/a change to the situation. I trust MT but I don’t have any faith in the borrower
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coop
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Post by coop on Jan 9, 2020 16:27:31 GMT
Well here we all are still waiting for a conclusion. With the latest grief from MT and no capital repayed in MONTHS i'm now past the point of wishing I had never got involved in P2P in the first place I just want my money back now; completely sick of this...
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micky
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Post by micky on Jan 10, 2020 13:41:46 GMT
Update on the site. Sounds promising but...
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