07-10-2018, 12:07 AM
Good to know that they have this covered - from their F&Qs
Okay - some Sunday DD for those who want to carry out (if not, I will reveal all tomorrow night... but what else is there to do on a Sunday... stop being lazy and do some bleeding work!). Your task for a quiet Sunday is to research the above and come back with your findings
Quote:What happens if we stop trading or become insolvent?
Naturally we have no intention of doing so. However, if BridgeCrowd were to become insolvent we have ring-fenced your investment.
Social Money Holdings Ltd is a non-trading vehicle that holds the loan agreements and mortgages with the borrowers in a trust on behalf of you, the investors. Should BridgeCrowd stop trading or become insolvent, then your investments and the loans are ring fenced from the BridgeCrowd insolvency. Your loans would then be managed by the solicitors on trust (rather than BridgeCrowd) until all loans are redeemed and the loan book is closed.
Okay - some Sunday DD for those who want to carry out (if not, I will reveal all tomorrow night... but what else is there to do on a Sunday... stop being lazy and do some bleeding work!). Your task for a quiet Sunday is to research the above and come back with your findings