They say it's better to be lucky than ... errr ... something. Unlucky, maybe?
Anyway. Right place. Right time. A preview of things to come. Maybe. (Or they could be completely re-written. Or completely fatuous. Or ... )
Quote:29/01/2019 DFL003 - Student accommodation block B, Huddersfield
This loan has now been reviewed by the new Recoveries Team as well as a member of the outsourced advisory panel from Duff & Phelps. The development requires remedial works regarding the cladding and fire notices have been issued. Following recent meetings with the borrower’s company, a proposal has been made to transfer the debt to a new SPV. The proposed insolvency practitioner has advised, subject to a number of points which are yet to be finalised, that this would be an acceptable deal. Further information will be provided to lenders once all of the information has been received in order to properly assess the current proposal to build out the security property
29/01/2019 PBL201 - Suffolk House, Trade Street, Cardiff **SECOND CHARGE LOAN**
Following recent negotiations with the borrower’s company, it has now provided Lendy with a refinance offer in principle from a third party funder (“OIP”). Having reviewed the OIP, the level of refinance being offered to the borrower’s company would be sufficient to repay the outstanding balance owed under the second charge loan in full. In the circumstances, Lendy has now instructed a third party from Duff & Phelps (https://www.duffandphelps.com) to assist Lendy with monitoring the refinance and ensuring that it progresses to completion.
29/01/2019 PBL199 - Suffolk House, Trade Street, Cardiff
Following recent negotiations with the borrower’s company, it has now provided Lendy with a refinance offer in principle from a third-party funder (“OIP”). Having reviewed the OIP, the level of refinance being offered to the borrower’s company would be sufficient to repay the outstanding balance owed under the first charge loan in full. In the circumstances, Lendy has now instructed a third party from Duff & Phelps (https://www.duffandphelps.com) to assist Lendy with monitoring the refinance and ensuring that it progresses to completion.
29/01/2019 DFL033 - Haymarket Yards, Edinburgh
This loan has now been reviewed by the new Recoveries Team as well as a member of the outsourced advisory panel from Duff & Phelps. Following recent meetings with the borrower company, a proposal has been made to transfer the debt to a new SPV. The borrower company has not yet been placed into administration, the proposed insolvency practitioner has advised, subject to a number of points which are yet to be finalised, that this would be an acceptable deal. Further information will be provided to lenders once all of the information has been received in order to properly assess the current proposal to build out the security property.
29/01/2019 DFL024 - Clearwater Quays, Latchford, Warrington
This loan has now been reviewed by the new Recoveries Team as well as a member of the outsourced advisory panel from Duff & Phelps. The development requires remedial works regarding the cladding and fire notices have been issued. The borrower’s company is being placed into administration to deal with health and safety matters. Further information will be provided to lenders once all the information has been received in order to properly assess the current proposal to build out the security property.
