I read in one of the papers that Anglo are preparing to “write off” some of the directors loans.
If they are willing to assign a “zero” value to the loans, should they not be obliged , in the interests of their shareholders, to accept any higher value for the loans?
If I make an offer to alan Dukes by regestered post and c.c. all newspaper editors is he obliged to consider my offer?
Why aren’t the loans auctioned off to the highest bidder? once you are in default I believe your right to privacy is compromised.
I understand that some of the loans may be non-recourse but surely SOME assets are garuenteed to some of the loans. if nothing else we would get a look at just how cosy the terms and conditions were.
In summary, Anglo may be too polite to reposses seanie’s boat or golf buggy, but I’d do it.
Oh, the albanians. The russians are now more into order…like the Italians in american oc, they realise that wars are bad for business.
It would be wonderful to see this gent and his pals sitting in Seanie’s house one evenign when he comes home from a hard days evading the press
“Sean, ishin këtu në lidhje me borxhin … paguaj ose kemi marrë veshkat tuaja” https://www.photoreportage-news.com/albums/albanie/mafia/english/slides/maf10.jpg
It’s a good point, if you owe money on your telephone bill, the debt is sold on to debt collection agencies, why should a nationalised bank grant politically based favours, such as writing off debt to a privileged few? Why is no attempt being made to recover the taxpayers losses?
Who knows, maybe they will? But for sure they won’t while they are still trying to get any money out of him. I believe that selling distressed debt comes after write-down, so this is not to say that it won’t happen.
Audits require that all of the assets of a business (including loans) are valued appropriately. The values that are decided on are not selling prices to the public.
