ptr120
Member of DD Central
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Post by ptr120 on Jun 26, 2020 14:08:37 GMT
A week since the last update. No confirmation that administrators have in fact been appointed, nor summary of their site visit that was to have taken place early this week, and what they have found
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cedarcourtcapital
Member of DD Central
Listening is not the same as understanding
Posts: 190
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Post by cedarcourtcapital on Jun 26, 2020 17:53:29 GMT
A week since the last update. No confirmation that administrators have in fact been appointed, nor summary of their site visit that was to have taken place early this week, and what they have found Do detect a note of surprise in your message? I personally would be surprised if MT ever actually did what they said they were going to do, efficiently and on time. In this case they threatened administration, allowed the borrower to have two further 'escape' options both involving payments which did not materialise, thus delaying and still nothing. Or at least nothing yet reported to their lenders. Maybe, and I sincerely hope I am wrong, they have discovered something that worries them!
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hazellend
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Post by hazellend on Jun 26, 2020 18:05:54 GMT
Here’s my guess, the works that we were told had been done haven’t been done
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Post by sirpercyblakeney on Jun 26, 2020 18:19:14 GMT
Under 'Loans' my investment has disappeared, maybe it has become a 'gift'?
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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
Posts: 11,230
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Post by ilmoro on Jun 26, 2020 18:38:03 GMT
Under 'Loans' my investment has disappeared, maybe it has become a 'gift'? I suspect MT are in the process of defaulting the loan, so the current loan will be repaid and a new default loan advanced. Edit Nope still showing for me
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robski
Member of DD Central
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Post by robski on Jun 26, 2020 18:47:40 GMT
Odd. mine is showing in completed
It couldnt be could it...
cross fingers lol
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Post by Badly Drawn Stickman on Jun 26, 2020 18:47:58 GMT
Under 'Loans' my investment has disappeared, maybe it has become a 'gift'? I suspect MT are in the process of defaulting the loan, so the current loan will be repaid and a new default loan advanced. Edit Nope still showing for me Not for me, missing presumed dead. Full repayment for the chosen few seems unlikely. Suspect it is making its way to default possibly after not meeting a final deadline that was wisely not mentioned?
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Post by sirpercyblakeney on Jun 26, 2020 18:49:04 GMT
Defaulting a loan so that it can be repaid and a new default loan advanced is mere ceremony. No money will change hands, no actual loan will be repaid!
If I were a loan god I would want a sacrifice.
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robski
Member of DD Central
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Post by robski on Jun 26, 2020 18:55:04 GMT
Hmmm back to live I think
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robski
Member of DD Central
Posts: 772
Likes: 462
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Post by robski on Jun 26, 2020 18:57:26 GMT
Update on site
Borrower still trying
Other interested party
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Post by sirpercyblakeney on Jun 26, 2020 19:03:36 GMT
Ceremony complete, much chanting, bowing, wafting of fumes, etc.
As usual we await a suitable time to see if the 'Curse' has been removed!
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Post by Badly Drawn Stickman on Jun 26, 2020 19:14:56 GMT
Ceremony complete, much chanting, bowing, wafting of fumes, etc. As usual we await a suitable time to see if the 'Curse' has been removed! Independent third party responding to the smoke signal, that's new....
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ptr120
Member of DD Central
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Post by ptr120 on Jun 27, 2020 6:47:03 GMT
A week since the last update. No confirmation that administrators have in fact been appointed, nor summary of their site visit that was to have taken place early this week, and what they have found Do detect a note of surprise in your message? I personally would be surprised if MT ever actually did what they said they were going to do, efficiently and on time. In this case they threatened administration, allowed the borrower to have two further 'escape' options both involving payments which did not materialise, thus delaying and still nothing. Or at least nothing yet reported to their lenders. Maybe, and I sincerely hope I am wrong, they have discovered something that worries them! No surprise at all - I posted this as I had an inkling that they hadn't done what they said they would do - I think MT would do very well if they opened a mushroom farm as they are quite good at keeping us in the dark and covered in sh*t. The idea of someone being interested in buying out a debt which the borrower hasn't serviced for some time lacks credibility IMO.
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TitoPuente
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Post by TitoPuente on Jun 27, 2020 10:07:20 GMT
... The idea of someone being interested in buying out a debt which the borrower hasn't serviced for some time lacks credibility IMO. Not if there is a deal for the borrower and a haircut for the current lenders (us). Buying the debt at par and then pursuing all unpaid interest, penalties, and newly agreed fees would work for a distressed debt specialist. Would MT lenders accept 100% capital back but no interests (effectively a haircut)? Probably yes. Would the borrower accept new fees in exchange for time to complete their supposed plans? Probably yes.
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keystone
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Post by keystone on Jun 27, 2020 12:10:15 GMT
What date were we paid interest up to on this loan?
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