TitoPuente
Member of DD Central
Posts: 623
Likes: 655
|
Post by TitoPuente on Apr 1, 2022 9:46:41 GMT
If we want to try to look on the bright side, they have recently announced that they closed the acquisition they reported last year that has an [unaudited] positive EBITDA of £266k (2021). This last disposal for £1 had net debt of £825k, so it is true that they are improving the holding balance sheet and that there will be some positive cash flow coming their way. They seem to be determined in trying to make the business work. Hopefully they succeed.
|
|
TitoPuente
Member of DD Central
Posts: 623
Likes: 655
|
Post by TitoPuente on Mar 31, 2022 7:27:41 GMT
The plc sold one of the businesses for £1 "to improve its balance sheet". Hopefully they can now use the quid to pay lenders. The plc "says it is seeking to focus its activities on the design and fabrication of bespoke products and to withdraw from providing solutions to the construction sector". I thought the construction sector was doing ok.
|
|
TitoPuente
Member of DD Central
Posts: 623
Likes: 655
|
Post by TitoPuente on Mar 30, 2022 8:21:28 GMT
1% pa when outside normal market condition. are we still outside normal market condition now? No
|
|
TitoPuente
Member of DD Central
Posts: 623
Likes: 655
|
Post by TitoPuente on Mar 20, 2022 10:46:55 GMT
The finished property sold for £2.56m (freehold + leasehold), not far from the £2.73m GDV. One of the main issues that caused the loss, beside the ineptitude of the borrower-developer, was the apparent miscalculation of the rental value, at least in the ramp up period. In the period until the last admin report, there were £273.6k received in rents and £431.6k paid in rent guarantees to leaseholders. The shortfall continues to date.
In addition, it’s not clear to me why there is a cost item “Build Completion Costs” of £886.6 and an additional “T** Capital Build Facility” of £907.3 that seem to be double counting the building costs.
|
|
TitoPuente
Member of DD Central
Posts: 623
Likes: 655
|
Post by TitoPuente on Mar 10, 2022 7:40:34 GMT
It looks like this one and CSPs are the only performing loans. The end date for the animal is 09/04/2024. I wonder what will happen with capital repayment if administration ends before that date? It probably won't, but just curious what can happen in such scenario. It is an excuse for the administration to be extended to that date.
|
|
TitoPuente
Member of DD Central
Posts: 623
Likes: 655
|
Post by TitoPuente on Mar 9, 2022 13:04:11 GMT
It is starting to look a little like this may not repay as anticipated (actually I think it was anticipated earlier in the month) today. Interest payment at least would be nice. Matthew 8:26
|
|
TitoPuente
Member of DD Central
Posts: 623
Likes: 655
|
Post by TitoPuente on Mar 5, 2022 11:04:52 GMT
There are supposed to be two, yes.Though who knows right now? Who's seen them recently? How secure are they? Are they just corroding away in the weather? Has somebody nicked the engines? This is going to turn out badly. I thought it was 2 speed boats (Lendy) and one crappy aircraft (sounds a bit like the 12 days of Christmas), but I'm happy to be corrected.
During Covid I think that most airlines parked up their planes at Southern locations to minimise the impact of moisture / rust. If these two aircraft have been parked up in Northern Europe for the last couple of years (in one piece or several), I dread to think what will be needed to get them back into an airworthy state.
Two 1982 An-26B
|
|
TitoPuente
Member of DD Central
Posts: 623
Likes: 655
|
Post by TitoPuente on Feb 21, 2022 10:27:51 GMT
Aministration extended again even when all assets have been sold. The courts are a joke.
|
|
TitoPuente
Member of DD Central
Posts: 623
Likes: 655
|
Post by TitoPuente on Feb 9, 2022 9:30:11 GMT
According to the LAG leader, RSM are being irresponsive in the process to agree a few items left out of the ruling last year. It's beyond me why the court left out contentious items.
|
|
TitoPuente
Member of DD Central
Posts: 623
Likes: 655
|
Post by TitoPuente on Feb 7, 2022 10:47:47 GMT
The last update on 14 Jan states that when the valuations are finalised the assets are going on the market.
|
|
TitoPuente
Member of DD Central
Posts: 623
Likes: 655
|
Post by TitoPuente on Jan 6, 2022 14:40:06 GMT
73 & 89 are up to date although that could change in the next few days.
But aren't available on the SM loan exchange, so presumably ABLrate know something that we don't. They are all paused as per 10 Dec update.
|
|
TitoPuente
Member of DD Central
Posts: 623
Likes: 655
|
Ablrate (ABL) in Administration
AF Loans (ABL)
Dec 4, 2021 10:36:48 GMT
Post by TitoPuente on Dec 4, 2021 10:36:48 GMT
Unless I missed it, there is no indication on when the Dncstr site will be operational.
|
|
TitoPuente
Member of DD Central
Posts: 623
Likes: 655
|
Post by TitoPuente on Nov 5, 2021 7:45:31 GMT
Sorry to resurrect a thread from some time ago I have had personal issues for the last couple of years and not been following up as diligently as I should have been on my finances I am just trying to piece things together and your help would be much appreciated I have a transaction of "Purchased (MTAIR3959) <b>DEFAULT</b> of Hotel & Restaurant in Prestbury - REMAINING CAPITAL BALANCE loan part" as my last transaction on this loan for a small amount I am no longer able to log into my MT account - last login was June 2021 - I presume they closed access because of the administration? Does anyone know the resulting action of the loan part listed above? Was it simply declared as a loss? Thankyou for any light anyone can spread on this Prestbury shows as crystallised loss. The website is still working.
|
|
TitoPuente
Member of DD Central
Posts: 623
Likes: 655
|
Post by TitoPuente on Nov 5, 2021 7:40:04 GMT
To be fair, they paid out the retained interest of MTBD895 to the last penny. I expect the same from tickin'.
|
|
TitoPuente
Member of DD Central
Posts: 623
Likes: 655
|
Post by TitoPuente on Nov 3, 2021 9:35:45 GMT
RNS dated 2 November announces an acquisition for £1.55m to be paid in new shares and warrants.
|
|