n
Member of DD Central
Yet another Nick
Posts: 879
Likes: 461
|
Post by n on Feb 14, 2020 11:18:47 GMT
well there are plenty of wake's going on at the moment across the p2p market and plenty more to keep them feeding for the next few years.by the time all this MT,FS,LY,COLL,and the one's that are looming are sorted I think I will be arranging my own wake. No vultures at MT's door (yet) Only their borrowers
|
|
|
Post by ladywhitenap on Feb 14, 2020 13:51:16 GMT
well there are plenty of wake's going on at the moment across the p2p market and plenty more to keep them feeding for the next few years.by the time all this MT,FS,LY,COLL,and the one's that are looming are sorted I think I will be arranging my own wake. No vultures at MT's door (yet) Only their borrowers This is another Plus for MT! Since they are doing a controlled wind down there are fewer vultures and hopefully thier legal advisors are their regular ones with whom they are likely to have a good relationship with and realistic cost arrangements. LW
|
|
|
Post by Badly Drawn Stickman on Feb 14, 2020 14:09:22 GMT
Realistically any reasonable payment would have allowed Moneything and by extension ourselves to give it (an even longer) period of grace. The only conclusion is that they have no funds, and it would seem no clear line of site on getting any. The prospects of a protracted and almost certainly contentious process to try and 'realise the asset' is not something (with a platform in wind down mode) that anybody should consider worthy of praise....... Ok maybe it is the only way forward but not one that will benefit anybody but another kettle* of administrators. * collective name for a group of Vultures. * true, but also, according to Wikipedia "A group of vultures is called a kettle, committee or wake..... Wake is reserved for a group of vultures that are feeding." Indeed. My own understanding is that a kettle usually describes the circling birds, or as they themselves would probably describe it 'riding the thermals whilst reading the menu'. Which in this instances is hopefully as near as they get. You have dealt with wake, so presumably committee is the dividing the spoils negotiations (Not to be confused with creditors committee, these can sometimes be formed by just a few birds - discussions on this topic is usually referred to as 'poking a hornets nest' )
|
|
|
Post by windsurfwillie on Feb 17, 2020 17:57:55 GMT
No update from MT, but NEX have an update on their site stating that the original investor has let them down, and new investors are being 'engaged' to raise further funds "in the next few weeks".
I fear a further extension may be on the way ...
|
|
hazellend
Member of DD Central
Posts: 2,363
Likes: 2,180
Member is Online
|
Post by hazellend on Feb 17, 2020 18:56:49 GMT
No update from MT, but NEX have an update on their site stating that the original investor has let them down, and new investors are being 'engaged' to raise further funds "in the next few weeks". I fear a further extension may be on the way ... Only if interest is paid. Cannot allow an extension without interest being paid
|
|
|
Post by GSV3MIaC on Feb 17, 2020 19:34:57 GMT
100% agree.. Moving the smoke and mirrors to NEX does nothing to avoid the 'let down' perpetrated (repeatedly) by the borrower. NEX can believe what they like, we have enough track record to know better.
|
|
mikeh
Member of DD Central
Posts: 499
Likes: 370
|
Post by mikeh on Feb 17, 2020 20:09:22 GMT
Totally predictable. Changes nothing. Full steam ahead and don't spare the horses.
|
|
averageguy
Member of DD Central
Posts: 1,174
Likes: 855
|
Post by averageguy on Feb 17, 2020 20:42:41 GMT
No update from MT, but NEX have an update on their site stating that the original investor has let them down, and new investors are being 'engaged' to raise further funds "in the next few weeks". I fear a further extension may be on the way ... Only if interest is paid. Cannot allow an extension without interest being paid Agreed....they can all max out there credit cards and pawn possessions
|
|
micky
Member of DD Central
Posts: 660
Likes: 549
|
Post by micky on Feb 17, 2020 22:46:01 GMT
As well as instructing their solicitors 'The end date' was changed to 31/3/20 on the 13/2/20. I suspect that MT new about this.
|
|
archie
Posts: 1,855
Likes: 1,856
Member is Online
|
Post by archie on Feb 24, 2020 15:34:20 GMT
Their investment website is live again.
|
|
|
Post by ladywhitenap on Feb 24, 2020 16:13:41 GMT
Which site is that ? (as few asterisks as possible please) or post on DDC?
There seems to be no change at l****lb**v****e.co.uk still showing as "coming soon"
thanks LW
|
|
archie
Posts: 1,855
Likes: 1,856
Member is Online
|
Post by archie on Feb 24, 2020 16:16:19 GMT
Which site is that ? (as few asterisks as possible please) or post on DDC? There seems to be no change at l****lb**v****e.co.uk still showing as "coming soon" thanks LW Not that one. The one linked to from the NEX page.
|
|
|
Post by ladywhitenap on Feb 24, 2020 16:32:00 GMT
Thanks Archie
LW
|
|
withnell
Member of DD Central
Posts: 550
Likes: 491
|
Post by withnell on Feb 25, 2020 7:25:11 GMT
Their investment website is live again. Which does seem consistent with an exclusivity period ending - it was simpler to close the website than create new holding pages for the exclusivity
|
|
|
Post by danielgoodwin on Mar 3, 2020 15:27:25 GMT
I agree. Having doing some digging it is common to grant exclusivity when one fund threats to take over the entire subscription. I believe works on and think the borrowers last update is honest and encouraging. At the end of the day, they've had Brexit to deal with as well as the hurdles to list. I should know as a friend of a friend did it (successfully) and it took 10x longer than anyone had quoted or promised him. Moral of this story is though that he got there in end and i believe these will also. Plus its earning us a fortune as the clock continues to tick and long may it continue
|
|