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Peer2Peer Finance News | July 17, 2018

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BDO inundated with requests to join Collateral creditor committee

July 13, 2018 |

COLLATERAL investors and creditors have supported the formation of a committee to assist in the administration of the failed peer-to-peer platform.

BDO, which was appointed administrator of Collateral in May, had proposed setting up the creditors committee if sufficient creditors … Read More

Collateral investors may face a returns shortfall

June 22, 2018 |

THE ADMINISTRATOR dealing with the collapse of peer-to-peer lender Collateral is investigating a discrepancy in the client money accounts as it reveals that there may not be enough funds to repay investors in full.

BDO took over the administration of … Read More

BondMason urges Collateral investors to back administrators

June 14, 2018 |

DIRECT lending specialist BondMason has urged Collateral lenders to support BDO in the administration of the collapsed peer-to-peer lender but insists it is ready to step in on the loanbook if needed.

BondMason had offered to manage the loanbook of … Read More

Collateral investors may have to join queue of creditors

June 12, 2018 |

COLLATERAL investors may end up having to recoup any unpaid interest owed as a creditor of the company, the administrator of the closed peer-to-peer lending platform has revealed.

An update from BDO said its initial view was that due to … Read More

Collateral closure puts living wills into question

June 8, 2018 |

THE COLLAPSE of peer-to-peer lender Collateral has shined a spotlight on the role of living wills in the event of a platform failure.

The Financial Conduct Authority (FCA) gained court approval last month to replace Collateral’s administrator Refresh Recovery with … Read More

High Court approves BDO as new Collateral administrator

May 8, 2018 |

BDO has been named as the new administrator of collapsed peer-to-peer lender Collateral after a High Court approved the City regulator’s request to change practitioner.

The Financial Conduct Authority (FCA) issued proceedings in the High Court last month as it said … Read More

Are P2P capital calls a bad sign?

January 9, 2017 |

The peer-to-peer sector is back in the spotlight after revelations that Wellesley’s auditors warned about the platform’s finances in its latest accounts.

Accountants BDO said the platform was “dependent on raising further capital to continue to operate for 12 months … Read More