It is secured by a debenture over a company with 15 million net worth, although why they would need to actually borrow money at such a high rate for an amount they can pay cash for is beyond me.
I wonder if Proplend or Funding Knight lenders can shed any light on the company A*** Marine Ltd? Looks like there were charges from both platforms that were satisfied just over a year ago.
Not sure about the loans to AM, but there were loans to CMS (the actual borrower in the charges) some of which assisted with the purchase of the marina. Late payments for a few months due to cashflow issues but brought up to date and repaid on time.
Minor shareholder in AC, Brickowner, Welendus, W.alpha, Propifi, Orca, Ccube, Ass.XChange ABL
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It's been plain sailing to date but it seems that we may have have entered the doldrums and have not seen the expected movement since 15-Jun-18, I raised this with HC but wondered if anyone else had had an update?