dh1
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Post by dh1 on Jul 23, 2024 21:25:18 GMT
Thanks for flagging this, johni - very helpful.
Whilst I agree that the update is a bit sparse, I think it is promising although that may be overstating it. I suspect that the administrators may finally be close to shutting up shop with one final distribution.... Just a guess, of course.
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rocky1
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Post by rocky1 on Jul 24, 2024 5:41:22 GMT
the latest end date for administration is 20th DEC 24 so not long to go now. as you said cant see them extending again for another year nothing left for them to plunder.it turns out the THINGS were just as good at the BS as the many other p2p directors.still getting a bung for consulting on their own incompetence and mismanagement of other peoples funds.i dont think they have been paid in bars of chocolate throughout this saga.does anybody know what all these ex p2p directors are up to now as apart from the COLL brothers they all seem to have slithered away under the rocks.
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dh1
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Post by dh1 on Jul 24, 2024 22:04:22 GMT
Apparently, the 24th July 2024 Administrators progress report will be available at the Companies House website in 10 days (probably sooner than that): link
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quidco
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Post by quidco on Jul 26, 2024 10:34:27 GMT
If you were being paid an exorbitant amount per hour/day would you be in a rush to get the job finished? They get paid for work done so the timespan makes no difference in that context eg send 1 email a year, they get paid for the six minutes taken to do that not all time in between. The issue in relation to timespan are the reoccurring non-time based coasts like hosting the platform, and the opportunities to do work a prolonged administration generates eg a report every 6 months. I guess ti shows there's still some money there; once there's no money I assume the administration will come to an abrupt halt...
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dh1
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Post by dh1 on Jul 26, 2024 11:53:58 GMT
The report is now available on the Companies House website: link
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ptr120
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Post by ptr120 on Jul 26, 2024 12:14:25 GMT
It really does annoy me how much the former directors, as consultants, are able to bleed out of the bones of the carcrash that they created.
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Mucho P2P
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Post by Mucho P2P on Jul 26, 2024 12:28:44 GMT
It really does annoy me how much the former directors, as consultants, are able to bleed out of the bones of the carcrash that they created. The Directors are immediately onboarded, and salaried, even before an investigation into their behaviour and failings has begun.
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jlend
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Post by jlend on Jul 29, 2024 8:16:36 GMT
the latest end date for administration is 20th DEC 24 so not long to go now. as you said cant see them extending again for another year nothing left for them to plunder.it turns out the THINGS were just as good at the BS as the many other p2p directors.still getting a bung for consulting on their own incompetence and mismanagement of other peoples funds.i dont think they have been paid in bars of chocolate throughout this saga.does anybody know what all these ex p2p directors are up to now as apart from the COLL brothers they all seem to have slithered away under the rocks. They do envisage extending again according to the latest report See section 8.1
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averageguy
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Post by averageguy on Aug 28, 2024 20:48:10 GMT
Another non update on site!! May make payments and update by end of August. There again they may not! At present we cannot think of a reason not to continue to withhold your cash but if we leave it another month something may come to mind. It’s beginning to look like “may not”
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johni
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Post by johni on Aug 30, 2024 12:46:39 GMT
So 3 hours to go for the payout promised. The minimum. I expect is an apology and explanation why they have not paid out on even 1 loan.
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Jaydee
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Post by Jaydee on Sept 6, 2024 10:03:44 GMT
Ed's obviously cruising round the Med, thinking of how much more he can get out of Lenders'
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elsee
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Retired:D
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Post by elsee on Sept 6, 2024 10:40:10 GMT
Another non update on site!! May make payments and update by end of August. There again they may not! At present we cannot think of a reason not to continue to withhold your cash but if we leave it another month something may come to mind. It’s beginning to look like “may not” Update on site, update in next few days.
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dh1
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Post by dh1 on Sept 6, 2024 14:53:53 GMT
The actual text of the "update" is:
"06/09/2024
Loan Updates and Distributions
Our apologies that we were unable to update lenders last month as anticipated, however we will be in a position to do so soon."
As Administrators seem to operate on a different timescale to everybody else, assume "soon" actually means "in 2024". Or 2025.....
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Jaydee
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Post by Jaydee on Sept 11, 2024 7:50:18 GMT
They are involved in a squabble with the ex directors on how to split the swag
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Post by elephantrosie on Sept 12, 2024 11:58:58 GMT
Has MT not sorted out all their loans? I went on the website today and saw that they have no remaining loans.
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