Carter
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Post by Carter on Jun 17, 2020 14:05:47 GMT
To extend on sirpercyblakeney 's "High Noon", I believe the borrower is currently in the last chance saloon and Moorfields are outside licking their lips. I wanted another chance, whether deserved or not, and this is it. If whatever has been put forward isn't credible, it's done, and rightly so.
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Post by sirpercyblakeney on Jun 17, 2020 15:44:21 GMT
End Date pushed back to the 20th - No reason given.
If the loan is worthy of an extension then it should also be worthy of a explanation.
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Post by siggy74 on Jun 17, 2020 17:06:38 GMT
This seems, to be a money spinner....... for ALL, apart from the moneything lenders ;p With Covid it seems the directors are sure on covering the investors distributions....per the website statements ;p <link identifying borrower redacted> Furthermore, the recent reduction in interest rates from the March 2020 budget means savers must ensure their funds are best placed to give optimum returns whilst in a strong instrument. The Directors do not believe that COVID19 will not have any significant impact whatsoever on the ability for the Company to meet its obligations on the bond listing and it’s future scheduled distributions to investors.” How about we start to get some distributions, rather than taken for mugs for another couple of years Always worth a good laugh, or a cry for the con artists in life living of the rest of us for free ;p
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Post by siggy74 on Jun 17, 2020 18:36:53 GMT
Oops.... I seem to of identified a borrower ;p Amazing that the name vanished.... almost the same as the borrowers last Accounts filing with vanishing info...... Seems to be missing the details of the loans
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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 Jun 17, 2020 19:26:13 GMT
Oops.... I seem to of identified a borrower ;p Amazing that the name vanished.... almost the same as the borrowers last Accounts filing with vanishing info...... Seems to be missing the details of the loans Are you looking at the right accounts, as the MT loans are clearly identified? Note 5 p6 The borrower is the parent company of the plc who issued the bonds
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Post by siggy74 on Jun 17, 2020 21:14:28 GMT
Oops.... I seem to of identified a borrower ;p Amazing that the name vanished.... almost the same as the borrowers last Accounts filing with vanishing info...... Seems to be missing the details of the loans Are you looking at the right accounts, as the MT loans are clearly identified? Note 5 p6 The borrower is the parent company of the plc who issued the bonds Searching on companies house ;p it does show on this.. Looking at the wrong paper works, thanks for that sir
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ptr120
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Post by ptr120 on Jun 19, 2020 7:45:51 GMT
I wonder if MT will deem us worthy of a meaningful update today?
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robski
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Post by robski on Jun 19, 2020 8:20:38 GMT
I wonder if MT will deem us worthy of a meaningful update today? Indeed and now a week on it better be a bloody good offer or they will lose their remaining credibility with us lenders
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mw
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Post by mw on Jun 19, 2020 8:48:08 GMT
They've made two updates on other loans on the website this morning.. I got excited for a minute but it was shortlived!
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cedarcourtcapital
Member of DD Central
Listening is not the same as understanding
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Post by cedarcourtcapital on Jun 19, 2020 8:48:27 GMT
I wonder if MT will deem us worthy of a meaningful update today? Indeed and now a week on it better be a bloody good offer or they will lose their remaining credibility with us lenders Not that they had any left with me, but I am extremely glad that other lenders appear to be coming around to my way of thinking. I saw no point in complaining about their communication however justified. I do not do it myself, but I am assured that writing direct to MT can illicit more information on situations. Now there is no secondary market there is no requirement to update everybody equally. My position is the sooner MT put everything/anything to do with remaining loans into someone competent's hands the better. I would rather pay someone to try to do a job than pay someone to do a job they are not competent to do!
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SteveT
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Post by SteveT on Jun 19, 2020 8:51:12 GMT
I wonder if MT will deem us worthy of a meaningful update today? Indeed and now a week on it better be a bloody good offer or they will lose their remaining credibility with us lenders Given MT is in formal wind-down, "credibility with us lenders" isn't a consideration at all. The commercial focus is to maximise return of capital to lenders (plus, ideally, interest). This will take years in some cases, especially in the current climate where financing is tough to secure and fire-sales are likely to attract only bottom-feeders. Extreme patience is advisable, not just for MT but also COL, FS, Lendy, etc.
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Post by bracknellboy on Jun 19, 2020 9:09:09 GMT
Indeed and now a week on it better be a bloody good offer or they will lose their remaining credibility with us lenders Given MT is in formal wind-down, "credibility with us lenders" isn't a consideration at all. The commercial focus is to maximise return of capital to lenders (plus, ideally, interest). This will take years in some cases, especially in the current climate where financing is tough to secure and fire-sales are likely to attract only bottom-feeders. Extreme patience is advisable, not just for MT but also COL, FS, Lendy, etc. And perhaps worth remembering that MT voluntarily put themselves into an orderly wind down rather then went careering into a major car crash due to some combination of total incompetence, greed and outright fraud (alledgedly). That itself suggests a level of ethical/moral consideration to lenders, business acumen/foresight and competence which at least puts them into a different category from the others mentioned there. Not withstanding that one or two loans on their books might in hindsight be complete stinkers that shouldn't have been taken on. I believe the term 'forebearance' is currently in vogue, and probably reasonably applicable in this case.
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robski
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Post by robski on Jun 19, 2020 9:45:02 GMT
Indeed and now a week on it better be a bloody good offer or they will lose their remaining credibility with us lenders Given MT is in formal wind-down, "credibility with us lenders" isn't a consideration at all. The commercial focus is to maximise return of capital to lenders (plus, ideally, interest). This will take years in some cases, especially in the current climate where financing is tough to secure and fire-sales are likely to attract only bottom-feeders. Extreme patience is advisable, not just for MT but also COL, FS, Lendy, etc. Sorry dont agree They do need to maintain some credibility. Granted its a different level to what they would need in a business as usual situation, however.. Take the recent vote on legal action or a larger return, if they lose the exisiting credibility that would likely have a different outcome since we rely on them if we had zero trust you are far more likely to take more money now rather than put future potential into the hands of MT
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robski
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Post by robski on Jun 19, 2020 9:46:39 GMT
Indeed and now a week on it better be a bloody good offer or they will lose their remaining credibility with us lenders Not that they had any left with me, but I am extremely glad that other lenders appear to be coming around to my way of thinking. I saw no point in complaining about their communication however justified. I do not do it myself, but I am assured that writing direct to MT can illicit more information on situations. Now there is no secondary market there is no requirement to update everybody equally. My position is the sooner MT put everything/anything to do with remaining loans into someone competent's hands the better. I would rather pay someone to try to do a job than pay someone to do a job they are not competent to do! I think you misunderstand me I am far happier for MT to run down than to put it into the hands of others
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averageguy
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Post by averageguy on Jun 19, 2020 12:00:33 GMT
Not that they had any left with me, but I am extremely glad that other lenders appear to be coming around to my way of thinking. I saw no point in complaining about their communication however justified. I do not do it myself, but I am assured that writing direct to MT can illicit more information on situations. Now there is no secondary market there is no requirement to update everybody equally. My position is the sooner MT put everything/anything to do with remaining loans into someone competent's hands the better. I would rather pay someone to try to do a job than pay someone to do a job they are not competent to do! I think you misunderstand me I am far happier for MT to run down than to put it into the hands of others Agreed.
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