Information on the payment of buybacks from Right Choice Finance │ Bondster

Information on the payment of buybacks from Right Choice Finance

Information on the payment of buybacks from Right Choice Finance

October 26, 2023 Announcements

For up-to-date information on developments at Right Choice Finance, please visit the “Regular updates on loan originators page.“.

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Loans were issued on the BONDSTER platform with an incorrectly entered buyback activation period due to an incorrect import by the Right Choice Finance provider. Instead of the standard period of 60 days, a value of 10 days was given for part of the loans. This system error was detected as part of the continuous monitoring of the provider. These loans are currently overdue with the the buyback guarantee repayment.

Although the provider Right Choice Finance originally did not expect such a short period for buyback, at the moment it is intensively preparing a solution leading to the quick repayment of current investors´ claims. By Wednesday, November 1, 2023 at the latest, we have been promised by the provider a final proposal for solving this extraordinary situation, including the determination of a binding deadline for the payment of all outstanding buybacks.

We assure all affected investors that they will soon receive the money in their investor accounts. The reason for the delay in the payment of redemptions is only an incorrectly entered deadline for the redemption of investments. The provider Right Choice Finance is a financially sound and stable company with which we have never experienced problems with the payment of investments. The management of the company has provided us with full cooperation since the error was discovered.

We will inform you immediately about the further development of the situation.

We apologize for the delay in the payment of buybacks and thank you for your patience.

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