UK ACORN,FARM FINANCE,DES PHILLIPS,BEWARE!!!!!

[Acornworm]

Perhaps the locals might enlighten us

 

[Acornworm]

Well,the Saving Stream investors must be breathing a sigh of relief

PBL056 - Walrow Farm, Somerset - Refinance with Barclays still underway. Borrower advised next week hopefully, depending on the lenders legals.

PBL064 - Tenanted Office Block, Somerset - We have regular contact with the borrower, he is going to sell the property in order to repay our loan. He is a finance broker so has good lender contacts if repayment is needed through refinance as well.

 

[Red Bull]

Well,the Saving Stream investors must be breathing a sigh of relief

PBL056 - Walrow Farm, Somerset - Refinance with Barclays still underway. Borrower advised next week hopefully, depending on the lenders legals.

PBL064 - Tenanted Office Block, Somerset - We have regular contact with the borrower, he is going to sell the property in order to repay our loan. He is a finance broker so has good lender contacts if repayment is needed through refinance as well.

Let's see how substantive these statements are or are they the usual bluster while looking for an escape route, which isn't in reality there, especially when other funders are straining at the leash trying to get their money which he acknowledges he can't pay.

Is Barclays really a funding source after their losses with UK Country Capitals? Okay, they saved him with the Co-op Bank, but are they a charity to bail out Des at his beck and call or is it just the desperate claim of a loser?

As for the office block is he going to sell it or not or just re-finance it through his extensive connections? It's been advertised before and nothing happened, therefore is this just a ploy to buy time and is there any equity there to meet his commitments as everything he touches or claims ownership of is showing negative equity.

TRADING WHILE INSOLVENT IS THE TERM.

 

[Acornworm]

I wonder how the sale price of Acorn House might reflect on Cooper and Tanners valuation,presumably a very good investment with Agri-funding paying such a generous rent

 

[Red Bull]

I wonder how the sale price of Acorn House might reflect on Cooper and Tanners valuation,presumably a very good investment with Agri-funding paying such a generous rent

If there is any shortfall in the potential sales price to valuation, the Funders could always sue the Valuers, is that not their game plan? There again her ladyship always claimed they could "fix a valuation" so it could well be a case of "hoisted by their own petard", now that would be Karma!

 

[Acornworm]

If I remember correctly,wasn't this the valuation where the valuer rather cleverly put a disclaimer on the information put forward by Mr Desmond Phillips.Unfortunately the investors could be the ones losing out,unless of course Walrow Farm need somewhere to relocate those pigs and are prepared to guarantee another eye watering rent.

 

[renewablejohn]

Well,the Saving Stream investors must be breathing a sigh of relief

PBL056 - Walrow Farm, Somerset - Refinance with Barclays still underway. Borrower advised next week hopefully, depending on the lenders legals.

PBL064 - Tenanted Office Block, Somerset - We have regular contact with the borrower, he is going to sell the property in order to repay our loan. He is a finance broker so has good lender contacts if repayment is needed through refinance as well.

Dont forget Barclays are the major investor in the Blemain group (incl Lancashire Mortgage) The solicitor (John Walker) dealing with my case is ex Barclays placed on the Blemain board.

http://www.mortgagesolutions.co.uk/...r-together-receives-100m-barclays-investment/

http://www.equistonepe.com/detail/news-detail?id=121

 

[Red Bull]

If I remember correctly,wasn't this the valuation where the valuer rather cleverly put a disclaimer on the information put forward by Mr Desmond Phillips.Unfortunately the investors could be the ones losing out,unless of course Walrow Farm need somewhere to relocate those pigs and are prepared to guarantee another eye watering rent.

Someone else shafted by Des then to add to the list. Those pigs need to be flying off Waitrose shelves to save his bacon.

 

[Acornworm]

Always thought porridge was preferable to bacon,'bout time he got some

 

[Acornworm]

Dont forget Barclays are the major investor in the Blemain group (incl Lancashire Mortgage) The solicitor (John Walker) dealing with my case is ex Barclays placed on the Blemain board.

http://www.mortgagesolutions.co.uk/...r-together-receives-100m-barclays-investment/

http://www.equistonepe.com/detail/news-detail?id=121

Just sums up everything that is wrong with this country,and I hate the word specialist,is being predatory specialist?
Wasn't UK Acorn the specialist partner to Connaught?

 

[fighter]

Presume Office block is Acorn House. A large steel framed building with generous car park on a business park,. No residential possibilities. Must put a limit on the value.
In a situation like above surely lender could make tenant pay rent directly to them!

 

[Acornworm]

Presume Office block is Acorn House. A large steel framed building with generous car park on a business park,. No residential possibilities. Must put a limit on the value.
In a situation like above surely lender could make tenant pay rent directly to them!

Now that would be an interesting scenario,not for Lendy perhaps Do they reveal that sole director of Brent Farms Ltd,the highly successful supplier of pork to Waitrose, who secured their borrowing on Walrow Farm,is also director and secretary of Agri-Funding Ltd the company paying the rent(??) on Acorn House.

 

[fighter]

Well that information is available on companies house.
But maybe Lendy are more used to lending to individuals!
Like Acorn etc who never liked a companies structure, wanting to get their hands on everything once the inevitable happened.
Unlike their own borrowing of course, even down to same directors new company buying back assets from the ashes of the old one.

 

[Red Bull]

Do you believe any of these Companies actually pay rent? They may be receiving rent from other tenants but this will only go into the pot to keep the Phillip's carousel going. As for the carousel companies with their nominal share holding and capital, their stationery is probably the only asset they possess. These efforts to re-finance are to meet their commitments to short term finance to which they are in default. Not a new situation, a cyclic event. No longer however do they have trophy directors to further their cause, it has now become a one man and his dog desperate operation. All in all indications are the downfall of the House of Phillips in progress, hopefully!!!

 

[Acornworm]

1920 photo of Charles Ponzi, the namesake of the scheme, while still working as a businessman in his office in Boston

From Boston to Highbridge,no wonder he's smiling.

 

[Acornworm]

Understand we briefly made a guest appearance on another forum,Welcome friends.

 

[Acornworm]

Presume Office block is Acorn House. A large steel framed building with generous car park on a business park,. No residential possibilities. Must put a limit on the value.
In a situation like above surely lender could make tenant pay rent directly to them!

Oh dear

http://p2pindependentforum.com/thread/3521/tenanted-office-block-somerset?page=6

 

[fighter]

They seem to be very worried on that forum, with reason we would all say.
Though there does seem to be someone who feels there is no reason for alarm, and all will be paid as promised.
Inside Knowledge?

 

[fighter]

Oh dear

http://p2pindependentforum.com/thread/3521/tenanted-office-block-somerset?page=6

Poor innocents' they have yet to properly encounter the slipperiness of the Toad.

Their only consolation its not the roof over their heads he is playing with, just a proportion of their savings.

I suppose it illustrates the old saying, "if it looks too good to be true it probably is". Or put it another way 12%pa is not without risk, in this case considerable.

 

[Acornworm]

Well if he needs some advice and some money to refinance I'm sure this man can help