TitoPuente
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Post by TitoPuente on Nov 20, 2020 10:23:35 GMT
According to the 2 April 2019 update, "As part of the agreement that we reached, the Receiver is holding the full net-proceeds in a ringfenced account pending resolution of the borrower’s legal claim". Is it safe to assume that this is still the case and the Receiver still holds the rest of the funds after the MT distribution? If so, there are sufficient funds to be wasted in this stupid legal fight for the next few years. If in the end MT is proved right and the Borrower's claim is dismissed, there shoud be enough cash to cover the legal costs including a couple more rounds of court nonesense.
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TitoPuente
Member of DD Central
Posts: 624
Likes: 655
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Post by TitoPuente on Nov 17, 2020 20:32:10 GMT
Would this be a good time to mention that I can never read the update emails? The ablrate logo is so big it makes it impossible to see without having to scroll it all directions. I have to log in to the site and read them there with any ease. That should have been fixed... can you send a screenshot to info@ Funny the fast reaction to address this but not all the speculation about #89 and the other associated loans. Hopefully this is just a proud dismissal.
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TitoPuente
Member of DD Central
Posts: 624
Likes: 655
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Post by TitoPuente on Oct 21, 2020 10:16:07 GMT
The company just announced a new acquisition for a consideration of £550k of which £350k are being paid in cash. It is great to learn that these guys are making progress with their business plan, but at the same time it feels unfair that they are unwilling to bring their ABL loans to date.
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TitoPuente
Member of DD Central
Posts: 624
Likes: 655
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Post by TitoPuente on Oct 20, 2020 13:41:56 GMT
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TitoPuente
Member of DD Central
Posts: 624
Likes: 655
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Post by TitoPuente on Oct 7, 2020 12:11:29 GMT
Hard to believe that LB sold the data base to make a few extra quid......................... NOT!
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TitoPuente
Member of DD Central
Posts: 624
Likes: 655
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Post by TitoPuente on Oct 3, 2020 9:36:17 GMT
Why 131 allows the creation of bids and offers ("Create your own bids and offers now!" box) and 134 doesn't? 126 is also not showing the box.
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TitoPuente
Member of DD Central
Posts: 624
Likes: 655
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Post by TitoPuente on Sept 24, 2020 13:10:57 GMT
Correct me if I am wrong: As a connected party, they would only be able to lawfully purchase the asset after repaying the outstanding debt.
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TitoPuente
Member of DD Central
Posts: 624
Likes: 655
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Post by TitoPuente on Sept 17, 2020 9:02:21 GMT
Where do you see that update? Report posted on the purple site.
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TitoPuente
Member of DD Central
Posts: 624
Likes: 655
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Post by TitoPuente on Sept 17, 2020 8:21:59 GMT
As expected, the Admin Proposal is anticipating a shortfall. It was really a great idea to push this to the shark tank i.e. M**rfields.
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TitoPuente
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Post by TitoPuente on Sept 11, 2020 8:11:33 GMT
Besides all considerations about how secure is the security, IMHO the clues as to whether the loans will continue to perform in their new profile is in the first page of the addendum. The language is a little cryptic. It could be understood that the ABL loans are going to be refinanced (by an undisclosed party) in a period of time which could be assumed to coincide with the new 3 year loans reprofiling period. If this is the case, then it could be argued that there is an additional shield that protects the capital amortisation i.e. not depending solely on operating cash flow to service the loans (capital and interest) but having a third party providing for the capital amortisation.
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TitoPuente
Member of DD Central
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Post by TitoPuente on Sept 10, 2020 9:56:28 GMT
[This is not AC specific. Can it be moved to the general area? The AC board is already crowded these days to add more noise]
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TitoPuente
Member of DD Central
Posts: 624
Likes: 655
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Post by TitoPuente on Aug 17, 2020 16:27:26 GMT
Confirmed elsewhere by Stuart that this FCA letter has not been sent to P2P platforms
Please could you point out where was this published? (i.e. where is elsewhere) Thanks!
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TitoPuente
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Post by TitoPuente on Aug 14, 2020 19:05:22 GMT
Yes. The issue with P1 and other multiple loan borrowers is that if the TopCo goes belly up it will affect all loans no matter how solid or low LTV they individually are.
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TitoPuente
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Post by TitoPuente on Aug 13, 2020 8:58:14 GMT
Excuse my ignorance in this question but I have over £1000 accrued interest on my account. Does a buyer inherit this, in part or full if I sell. If this is the case this is also a consideration for a further loss to selling at a discount? Normally you would keep your accrued interest until the date of the transaction, and the buyer will start accruing from that point. In any case, £1000 accrued interest today in the QAAs implies a holding of circa £800k. Perhaps a large part of the £1000 accrued are associated to MLA holdings?
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TitoPuente
Member of DD Central
Posts: 624
Likes: 655
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Post by TitoPuente on Jul 15, 2020 19:07:21 GMT
Yes. It's rather frustrating. I hope this is not the beginning of another colourful story.
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