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Peer2Peer Finance News | June 17, 2019

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BDO

Collateral administrator names creditors committee members

September 12, 2018 |

THE MEMBERS of the Collateral creditors committee have now been named by administrator BDO.

Investors were invited to vote for nominees for the committee, which will assist in the wind-up of the collapsed peer-to-peer lender, after 13 people applied for just … Read More

Initial Collateral administrator now facing its own closure

August 31, 2018 |

THE INSOLVENCY firm initially appointed to manage the wind-down of peer-to-peer platform Collateral has fallen into administration itself.

Refresh Recovery – which was appointed as administrator for Collateral in February before being replaced by BDO following an intervention by the Financial Conduct … Read More

FCA to clamp down on platform wind-down plans

July 27, 2018 |

THE FINANCIAL Conduct Authority (FCA) has proposed stringent new measures to protect investors in the event that a platform should go out of business.

The City regulator said in its long-awaited consultation paper on Friday that it plans to “strengthen … Read More

Collateral investors to vote on creditor committee members

July 26, 2018 |

RELENDEX and BondMason executives are on the shortlist to sit on the creditors committee of failed peer-to-peer platform Collateral, ahead of a stakeholder vote.

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

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