Ann: Pioneer Credit Limited extends Standstill Agreement, page-2

I detect a further degree of uncertainty within this announcement. At least they are keeping the market informed. Seems to be developing into a similar situation to the CLH debacle. Funding PDP companies is obviously on the nose - whilst they are very similar to finance company lenders only at the very lowest end of the credit market they seem to be viewed in a very different way by the lenders. It is mainly due to the disagreement as to how they can calculate the present value of the PDPs. It is strange because shortterm pay day lenders (not BNPL) who also deal in a very low end of the lending market seem to be able to come up with present values of their loans without question when their likely writeoffs and losses are pretty much a wild guess based on historic modelling as well. Ah well who am I to judge?