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Peer2Peer Finance News | June 22, 2018

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Collateral collapse has far-reaching ramifications

June 21, 2018 |

Frank Wessely, partner at business advisory firm Quantuma, explains why the peer-to-peer lending industry should be thinking more seriously about platform closures in the wake of Collateral’s collapse

The outcome for investors in Collateral loans remains uncertain. BDO will be reporting … 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

FCA reveals it intervened in Collateral administration to protect investors

April 4, 2018 |

THE FINANCIAL Conduct Authority (FCA) has revealed that it intervened in the administration of Collateral because the peer-to-peer lender failed to seek its approval when it appointed an insolvency practitioner.

Wigan-based Refresh Recovery was selected by Collateral when the company … Read More

HNW Lending eyes Collateral loanbook

April 4, 2018 |

ASSET-BACKED peer-to-peer lender HNW Lending has thrown its hat in the ring as a potential buyer of the loanbook of its rival Collateral, which fell into administration in February.

Collateral became unreachable in late February when its website went down … Read More

Collateral administration stalls as FCA seeks to appoint own administrator

April 3, 2018 |

THE ADMINISTRATION of peer-to-peer lender Collateral has been held up after the Financial Conduct Authority (FCA) intervened in an attempt to appoint its own practitioner.

A progress report, seen by Peer2Peer Finance News, shows Refresh Recovery – which was appointed … Read More

P2P pawnbroker Unbolted confirms it is not expanding into property loans

March 16, 2018 |

PEER-TO-PEER pawnbroker Unbolted has quashed speculation that it is moving into property lending.

The fully regulated platform, which provides loans secured on assets such as fine wine or classic cars for individuals and equipment or stock for small businesses, has written … Read More

Ablrate considers buying Collateral’s loan book

March 8, 2018 |

BUSINESS lender Ablrate is considering buying the loan book of Collateral, the peer-to-peer lending platform that recently went into administration.

Ablrate’s chief executive David Bradley-Ward said he has contacted Collateral’s administrators to find out how it can help.

“If there … Read More