These forums have been archived and are now read-only.

The new forums are live and can be found at https://forums.eveonline.com/

Market Discussions

 
  • Topic is locked indefinitely.
Previous page12
 

[Bond] Overcollaterized, 200b for 6 months
Author
Previous Topic Next Topic
Grendell
Technologies Unlimited
#21 - 2013-05-27 21:19:51 UTC
Anonymous IV has been cashed out.

◄[♥]►3rd Party Service◄[♥]►

♥ Securing Peace of mind ♥
Grendell
Technologies Unlimited
#22 - 2013-07-29 19:40:10 UTC
Just an update here:

Tanith has been away for a while and has not been sending interest payments for months now. I've mailed him to get an update, I will make a post here once I get any new news.

◄[♥]►3rd Party Service◄[♥]►

♥ Securing Peace of mind ♥
I Was There
Habemus
#23 - 2013-08-14 10:17:08 UTC
Urgh!
Grendell
Technologies Unlimited
#24 - 2013-08-20 16:28:44 UTC  |  Edited by: Grendell
EDIT: Just a clarification after speaking with Tanith and co., all missed interest payments have been paid in full and first 100b capital re-payment has been received.

Just a small update:

This bond is considered defaulted. We've decided to liquidate the collateral and pay investors back. Chribba will be selling off the collateral in the coming weeks, and investors will have their isk returned once that is completed. I've been paying out the interest out of my own pocket as I do with all my bonds regardless of the client paying or not. Initial investments will all be returned as well as 1 months interest.

Will post more details as I get them, thanks for reading.


Regards,
Grendell ♥

◄[♥]►3rd Party Service◄[♥]►

♥ Securing Peace of mind ♥
Grendell
Technologies Unlimited
#25 - 2013-08-21 14:48:05 UTC
I've received the first 100b from Chribba in the liquidation. I am currently at work, but when I get home this evening I will start cashing out investors!

◄[♥]►3rd Party Service◄[♥]►

♥ Securing Peace of mind ♥
X ATM092
The Hatchery
RAZOR Alliance
#26 - 2013-08-23 16:15:26 UTC
Do third parties profit off of defaults in the event of overcollateralisation? Is that considered part of your fee for taking the risk and the trouble of sorting out the mess of the default? Or does any excess collateral return to the original loaner following the repaying of his debts?
Grendell
Technologies Unlimited
#27 - 2013-08-23 16:56:30 UTC
X ATM092 wrote:
Do third parties profit off of defaults in the event of overcollateralisation? Is that considered part of your fee for taking the risk and the trouble of sorting out the mess of the default? Or does any excess collateral return to the original loaner following the repaying of his debts?


That entirely depends on the 3rd party and the deal they make with the borrower.

For all my loans if a default occurs anything left over after a liquidation I keep. The reason behind it is that liquidations can be an absolute time consuming nightmare. While they can make me some money, I still prefer that loans do not default. I'm more concerned with my time than the isk involved.

Some people like to charge more up front, regardless of if a default occurs some like to charge down the road if it does occur.
Hope that answers your question.

◄[♥]►3rd Party Service◄[♥]►

♥ Securing Peace of mind ♥
Grendell
Technologies Unlimited
#28 - 2013-08-23 17:35:41 UTC
Cashed out, the majority of the investors with isk from Tanith and some from me.

The remaining investors:
Lanu - 42b
Don ZOLA - 3b

The remainder owed for this loan : 100b

◄[♥]►3rd Party Service◄[♥]►

♥ Securing Peace of mind ♥
Cora LaFleur
Hypernet Inc.
Umbrella Chemical Inc
#29 - 2013-08-25 15:45:32 UTC
Just to clarify, while the bond is considered defaulted as per Grendells rules, the borrowing party (Hypernet inc. ) has paid all isk owed for interest, and will likely pay all isk owed for the initial loan before the end of the month.

That means that there is no "profit" for the third parties (Chribba and Grendell), as they have sold none of the collateral.


I would like to thank Grendell and Chribba for their patience with this matter, the blame of which rests fully with Hypernet inc.
Grendell
Technologies Unlimited
#30 - 2013-08-25 21:29:18 UTC
Cora LaFleur wrote:
Just to clarify, while the bond is considered defaulted as per Grendells rules, the borrowing party (Hypernet inc. ) has paid all isk owed for interest, and will likely pay all isk owed for the initial loan before the end of the month.

That means that there is no "profit" for the third parties (Chribba and Grendell), as they have sold none of the collateral.


I would like to thank Grendell and Chribba for their patience with this matter, the blame of which rests fully with Hypernet inc.


Confirming the above post.Smile

◄[♥]►3rd Party Service◄[♥]►

♥ Securing Peace of mind ♥
Cora LaFleur
Hypernet Inc.
Umbrella Chemical Inc
#31 - 2013-08-27 11:06:30 UTC
I have now received confirmation from grendell that the isk for all interest as well as intial loan have be received. This bond is officially closed, and I would like to thank everyone involved in making it a success.
Grendell
Technologies Unlimited
#32 - 2013-08-27 13:36:25 UTC
Confirmed, I will be cashing out the remaining investors this evening! Thanks to everyone involved!

◄[♥]►3rd Party Service◄[♥]►

♥ Securing Peace of mind ♥
Belgarath Aloria
The Alorn Alliance
#33 - 2013-08-29 19:35:17 UTC
So nice to see a satisfactory conclusion to this. :)
Previous page12