July 12, 2023 Announcements | For investors
DanaRupiah
July 12, 2023
We have received proof of payment from the loan originator DanaRupiah. The money transfer issue was successfully resolved with the bank and the payment was successfully sent. As soon as the funds are deposited into our bank account, we will immediately pay out the investors. Many thanks to all the investors affected for their patience.
July 7, 2023
The loan provider DanaRupiah has sent us an official statement regarding the delay in payments. You can read the statement below.
Dear Bondster Team,
Due to problems with the local banking system in Indonesia, there is a slight disturbance in payment transactions. We have been actively coordinating with the bank to immediately resolve this issue.
We apologize for this inconvenience, We will try to be able to make payments as soon as possible if this problem has been successfully resolved.
We hope we can proceed the payments by next week.
Thank you for understanding.
Investors do not have to worry about their returns as the funds invested will continue to earn interest throughout the whole period.
Kviku
June 26, 2023
The status remains unchanged as of 21. 6. 2023. The information published below is still valid.
May 11, 2023
The submitted debt recognition agreement from the loan originator Kviku was significantly disadvantageous for Bondster’s investors. For this reason, we have sent a counter-proposal to the provider and have unfortunately received no response as of today.
March 30, 2023
The status remains unchanged as of 30. 3. 2023. The information published below is still valid.
February 17, 2023
We have received a draft debt recognition agreement from the loan provider Kviku, which is another condition for the Russian authorities to agree to send payments to “not friendly countries”. Under this agreement, it would be possible to send funds from the Russian Federation to pay for buybacks. We are now analyzing the content of the agreement and trying to negotiate the most favorable terms for investors.
Once the agreement is concluded, Kviku can start sending payments. Unfortunately, taking into account the limits on payments to ‘not friendly countries’ set by the Russian Federation and the distribution of the ratio of creditors from these countries, this will be a monthly payment of EUR 1 000 to 2 000. This means, among other things, that unless President Vladimir Putin’s decree changes, the provider will be repaying the debt to the creditors for more than 15 years (NB if the debt were fixed and not further increased by the interest income of the investors). The specific repayment amount will always depend on the current RUB/EUR exchange rate.
December 14, 2022
To the Russian loan provider, Kviku still applies the restrictions on payments from Russian banks to banks in so-called “not-friendly countries”.
Over the past months, we have been looking for and analyzing various options for the safe and legal transfer of funds to the Czech Republic. We have set up an account abroad to which Russian rubles can be sent and exchanged into euros. We are currently testing the transaction and verifying whether the Czech bank will accept the transfer. If the transaction goes through, we will test the transfer from the Russian Federation. If the solution found proves to be optimal, we are ready to receive funds from Kviku to cover the buybacks.
We ask all our investors for patience. We are confident that the situation will be resolved as soon as possible and we will soon credit the funds to your accounts on Bondster.
October 16, 2022
At the moment, the Russian provider Kviku is still unable to make payments from Russian banks to banks in the so-called “non-friendly countries” due to the restrictions in place.
As soon as possible, Bondster CEO will make a trip to Belarus, where he will personally open a bank account to facilitate payments from Russia. Afterwards, the loan provider Kviku will make repayments of one million roubles a month to this account. The amount is limited by the decree of Russian President Vladimir Putin for payments to creditors in “non-friendly countries”.
The Bondster team is actively looking for and analysing other options of safe and legal money transfers. We kindly ask all our investors for patience. We believe the situation will be resolved soon, after which the funds will be credited to investors’ accounts at Bondster.
August 4, 2022
Dear Investors,
We would like to inform you about the current situation regarding the difficulties with cross-border money transfers of the Russian loan provider Kviku. Payments made from Russia to “non-friendly countries” are still limited to 10 million roubles per month. Even though it is possible to make rouble transfers in specific cases, the conversion of roubles into euros is very limited.
At Bondster, we are still analysing all transfer options and their potential risks, so that we can safely transfer funds from Russian providers to you. Simultaneously, we and our providers must comply with applicable regulations, which are changing very quickly. Therefore, we kindly ask all our investors for patience. We believe that the situation will be resolved as soon as possible and that the funds will be transferred to your accounts with Bondster in the nearest future.
Lime Loans South Africa
June 21, 2023
The status remains unchanged as of 21. 6. 2023. The information published below is still valid.
May 11, 2023
The status remains unchanged as of 11 May 2023. The information published below still applies.
March 30, 2023
The status remains unchanged as of 30. 3. 2023. The information published below is still valid.
February 9, 2023
South African loan provider Lime Loans South Africa is part of the Russian Lime Credit Group. The two companies are financially interlinked. Sanctions imposed on the Russian Federation following the invasion of Ukraine in the form of disconnecting Russian banks from the SWIFT global payment system complicate international fund transfers. This is not only towards creditors, i.e. you, the investors, but also within economically interconnected entities.
Lime Loans South Africa is in a growth phase, and its operations are still funded by the parent company. Due to the inability to transfer funds from the parent company based in the Russian Federation, Lime Loans South Africa has a complicated cash flow management situation and is currently unable to meet the buyback guarantee. We are in contact with the loan originator and its parent company and are looking at possible solutions.
For this reason, we have stopped issuing new loans to Lime Loans South Africa as early as 29 April 2022. We are in intensive negotiations on the terms of the repayment schedule for all Lime Credit Group providers (i.e. Lime Zaim, Lime Loans South Africa, and Lime MX).
We kindly ask for patience from all our investors. We are confident that the situation will be resolved, and funds will start coming in from the loan originator.
Lime MX (Lime Mexico)
June 21, 2023
The status remains unchanged as of 21. 6. 2023. The information published below is still valid.
May 11, 2023
The status remains unchanged as of 11 May 2023. The information published below still applies.
March 30, 2023
The status remains unchanged as of 30. 3. 2023. The information published below is still valid.
February 9, 2023
Lime MX, a loan provider from Mexico, is part of the Russian Lime Credit Group. The two companies are financially interconnected. Sanctions imposed on the Russian Federation after the invasion of Ukraine in the form of disconnection of Russian banks from the global payment system SWIFT complicate international fund transfers. This is not only towards creditors, i.e. you, the investors, but also within economically interconnected entities.
Lime MX is in a growth phase, and its operations are still financed by the parent company. As the transfer of funds from the parent company located in the Russian Federation cannot be sufficiently implemented, Lime MX is facing a complicated cash flow management situation and is currently unable to meet the buyback guarantee. We are in contact with the loan originator and its parent company and are looking for possible solutions.
For this reason, we have stopped issuing new loans to the Lime MX provider as of 8 November 2022. We are in intensive negotiations on the terms of the repayment schedule for all Lime Credit Group providers (i.e. Lime Zaim, Lime Loans South Africa, and Lime MX).
We kindly ask for patience from all our investors. We are confident that the situation will be resolved, and funds will start coming in from the loan originator.
Lime Zaim
June 21, 2023
The status remains unchanged as of 21. 6. 2023. The information published below is still valid.
May 11, 2023
The status remains unchanged as of 11 May 2023. The information published below still applies.
March 30, 2023
The status remains unchanged as of 30. 3. 2023. The information published below is still valid.
February 17, 2023
We have received a draft debt recognition agreement from the loan provider Lime Zaim, which is another condition for the Russian authorities to agree to send payments to “not friendly countries”. Under this agreement, it would be possible to send funds from the Russian Federation to pay for buybacks. We are now trying to negotiate the most favorable terms for investors. We have sent a counter-proposal to the provider and are currently awaiting comment from Lime Zaim’s senior management.
Once the agreement is concluded, it will be possible to receive payments which, based on the limits for payments to “not friendly countries” set by the Russian Federation and the distribution of the ratio of Lime Zaim’s creditors, will be in the order of EUR 10 to 20 thousand per month. Unless Vladimir Putin’s current decree changes, the provider will repay the debt to the creditors over approximately 7 years (NB if the debt is fixed and does not further increase by the interest yield of the investors). The specific amount of the repayment will always depend on the current RUB/EUR exchange rate
December 14, 2022
To the Russian loan provider, Lime Zaim still applies the restrictions on payments from Russian banks to banks in so-called “not-friendly countries”.
Over the past months, we have been looking for and analyzing various options for the safe and legal transfer of funds to the Czech Republic. We have set up an account abroad to which Russian rubles can be sent and exchanged into euros. We are currently testing the transaction and verifying whether the Czech bank will accept the transfer. If the transaction goes through, we will test the transfer from the Russian Federation. If the solution found proves to be optimal, we are ready to receive funds from Lime Zaim to cover the buybacks.
The transfer of money from the Russian Federation is very complicated due to the current situation. Competing platforms (such as Mintos) are also unable to receive any funds.
We ask all our investors for patience. We are confident that the situation will be resolved as soon as possible and we will soon credit the funds to your accounts on Bondster.
October 16, 2022
At the moment, the Russian provider Lime Zaim is still unable to make payments from Russian banks to banks in the so-called “unfriendly countries” due to the restrictions in place.
As soon as possible, Bondster CEO will make a trip to Belarus, where he will personally open a bank account to facilitate payments from Russia. Afterwards, the loan provider Lime Zaim will make repayments of ten million roubles a month to this account.
The Bondster team is actively looking for and analysing other possible ways of safe and legal money transfers. We kindly ask all our investors for patience. We believe the situation will be resolved soon, after which the funds will be credited to investors’ accounts at Bondster.
August 4, 2022
Dear Investors,
We would like to inform you about the current situation regarding the difficulties with cross-border money transfers of the Russian loan provider Lime Zaim. Payments made from Russia to “non-friendly countries” are still limited to 10 million roubles per month. Even though it is possible to make rouble transfers in specific cases, the conversion of roubles into euros is very limited.
At Bondster, we are still analysing all transfer options and their potential risks, so that we can safely transfer funds from Russian providers to you. Simultaneously, we and our providers must comply with the applicable regulations, which are changing very quickly.
Therefore, we kindly ask all our investors for patience. We believe that the situation will be resolved as soon as possible and that the funds will be transferred to your accounts with Bondster in the nearest future.
Mikrokasa
June 21, 2023
The status remains unchanged as of 21. 6. 2023. The information published below is still valid.
May 11, 2023
The status remains unchanged as of 11 May 2023. The information published below still applies.
March 30, 2023
The status remains unchanged as of 30. 3. 2023. The information published below is still valid.
February 17, 2023
The status remains unchanged as of 15.2.2023. The information published below is still valid.
December 14, 2022
The status remains unchanged as of 14 December 2022. The information published below is still valid.
October 16, 2022
Since the restructuring proceedings is still ongoing, the Polish court has not yet ruled on the amount of compensation that will be awarded to individual creditors of the loan provider Mikrokasa. Our legal representative is regularly monitoring the restructuring proceedings as well as the communication with Mikrokasa representatives. We will inform investors concerned about important developments in the situation.
Part of the portfolio (buybacks due after 7 October 2020) that is not subject to the restructuring proceedings is currently in arrears. We are trying to resolve the situation with Mikrokasa management representatives.
August 4, 2022
Dear Investors,
We would like to inform you about the current situation regarding the loan provider Mikrokasa. The Polish court has not yet ruled in the restructuring proceedings by deciding on the amount of compensation for individual creditors. The restructuring proceedings is still ongoing, and there has been no further progress in determining specific amounts to be paid or the timeframe of payments. Our legal representative is actively engaged in the monitoring of the restructuring proceedings and communication with Mikrokasa representatives. We will inform affected investors about important news without delay.
Part of the portfolio (buybacks due after July 10, 2020) that is not subject to the restructuring proceedings is currently in arrears. We are looking for a solution to this situation with the representatives of Mikrokasa’s management.
NetGotowka
June 21, 2023
The status remains unchanged as of 21. 6. 2023. The information published below is still valid.
May 11, 2023
The status remains unchanged as of 11 May 2023. The information published below still applies.
March 30, 2023
The status remains unchanged as of 30. 3. 2023. The information published below is still valid.
February 17, 2023
The loan originator NetGotowka has not complied with the terms of the letter agreement on repayments. We are preparing the necessary steps for legal recovery.
December 14, 2022
The status remains unchanged as of 14 December 2022. The information published below is still valid.
October 16, 2022
We were able to sign a bilateral repayment agreement with the NetGotowka loan provider. Under the agreement, the outstanding debt is to be repaid by the end of 2023. The provider is currently making all the payments it is obliged to as agreed in the repayment schedule. Bondster will then distribute the payments to investors as soon as they are received.
August 4, 2022
Dear Investors,
We would like to inform you about the current situation regarding the loan provider NetGotowka. The details of the instalment agreement are currently being discussed with NetGotowka, with the aim of paying off the remaining debt by the end of 2023.
Omnigrant
June 21, 2023
The status remains unchanged as of 21. 6. 2023. The information published below is still valid.
May 11, 2023
The status remains unchanged as of 11 May 2023. The information published below still applies.
March 30, 2023
The status remains unchanged as of 30. 3. 2023. The information published below is still valid.
February 17, 2023
For the loan originator Omnigrant, we are preparing the necessary steps for the legal recovery of the debt.
December 14, 2022
The loan provider, Omnigrant, has started communicating with us after preparing the legal steps and is starting to send installments. By the end of the year, we could receive an amount in the lower thousands of euros. After the New Year, there will be a new agreement with the provider. If the provider does not communicate with us, we are ready to proceed with further legal steps.
October 16, 2022
Despite our best efforts, we have been unable to obtain an instalment agreement proposal from the Omnigrant group representatives (concerns the loan providers Szybka pozycka Polska, Szybka pozycka Artex and Szybka pozycka).
We have handed the case to our legal representatives who are going to send a pre-action protocol letter in the penultimate week of October. If there is no response to it, we will proceed with a legal recovery of the claim.
August 4, 2022
Dear Investors,
We would like to inform you about the current situation regarding the loan providers Szybka pozycka Polska, Szybka pozycka Artex and Szybka pozycka. We did not receive a proposal of an instalment agreement plan from the representatives of the Omnigrant financial group, to which the above-mentioned loans belong, within the mutually agreed deadline.
Therefore, we are referring the case to our legal representatives, and we are proceeding to legal enforcement.
RapiCredit
July 5, 2023
Information on the payment of outstanding buybacks from the loan provider RapiCredit
We would like to summarize the current situation regarding the outstanding buyback payments from RapiCredit.
During the first half of 2022, the RapiCredit provider reached its peak exposure on principal of EUR 1.75 million. By the end of 2022, the provider had paid a total amount of over EUR 829 thousand on principal. The funds received were used to pay the buybacks based on the date of due from the oldest.
As the repayments were not regular and the pace was not sufficient, we have initiated negotiations with RapiCredit representatives. We negotiated an agreement in early January 2023 for the repayment of the remaining EUR 921 thousand debt on principal (including interest for the entire period of delay) in individual installments by 30 June 2023 at the latest. Unfortunately, the amount of repayments made by RapiCredit was not sufficient and we regularly pointed this fact out to the provider.
In mid-June 2023, we again had discussions with RapiCredit representatives and warned them that the pace of repayment was not sufficient to fulfill the promise made to the investors and requested from the provider an immediate repayment of the remaining part of the debt. The provider’s current debt on principal to investors is EUR 313 thousand (note: as of 1 July 2023)
In response to our appeal, RapiCredit replied that it would not pay the entire debt at once, but would make regular repayments at the rate of EUR 25,000 per week (i.e. EUR 100,000 per month) until the entire principal, including interest for the entire period of delay, was paid.
Given that a total of EUR 608,000 has been recovered from RapiCredit since the beginning of 2023 (note: since the beginning of February 2023, the provider has been sending EUR 25,000 in regular weekly installments), we have decided not to proceed to the judicial recovery of the remaining part of the debt at this time.
If RapiCredit keeps its promise and maintains the current pace and level of repayments, all outstanding buybacks, including interest, will be paid by the end of October 2023. We will promptly pay all payments from the provider to the investors based on the date of due in order from the oldest.
Loans that were published on the primary market between June and early October 2022 are currently awaiting disbursement. All loans published before June 2022 have already been bought back from investors.
The Bondster team is making every effort in its negotiations with RapiCredit to ensure that outstanding buybacks are paid as quickly as possible. We would like to stress that investments are subject to interest during the whole period of delay of buyback payments. Bondster has not charged any penalty fees or recovery costs on the recovered funds throughout the recovery period.
We thank all investors for their patience. We are confident that the situation regarding RapiCredit will be resolved soon. From the total outstanding amount of EUR 1.75 million, Bondster was able to recover almost EUR 1.43 million for the investors.
Disclaimer: For the sake of simplicity, the amounts quoted are rounded and are primarily amounts of principal.
May 11, 2023
The RapiCredit provider complies with the agreed repayment agreement and sends funds on a weekly basis to cover outstanding buybacks. All funds are promptly disbursed to investors based on the of due from the oldest.
April 4, 2023
On Monday, 3 April 2023, we paid out additional funds received from RapiCredit into investors’ accounts. The provider is slightly late in fulfilling the agreed repayment agreement. We will soon receive additional funds from the provider to pay the buybacks in arrears, which we will credit to the investors’ accounts immediately.
March 22, 2023
Based on our regular quarterly monitoring of financial data for Q4/2022, we have downgraded RapiCredit’s rating from B+ to B. The main reasons for this decision include a slowdown in the recovery of principal disbursed, an increase in the share of overdue loans and a deterioration in current liquidity. Despite the deterioration in some financial indicators, RapiCredit remains a capital strong and profitable company with a capital to asset ratio of 19% and ROA of 6%.
February 17, 2023
As of January 2023, the loan originator RapiCredit started to comply with the repayment agreement. It is currently slightly behind the agreed repayment schedule. Since the beginning of this year, we have received EUR 250 thousand in funds from RapiCredit. All of these funds have been disbursed to investors without delay. Further funds will be sent by the loan provider according to an agreed repayment schedule. All outstanding buybacks in arrears of 60+ days will be paid off by the end of June 2023 as assured by RapiCredit representatives.
January 4, 2023
After intensive negotiations with the loan provider RapiCredit, we agreed on a repayment schedule for buybacks in arrears of 60+ days. We believe that at this point, this is the best possible solution, which will ensure the payment of outstanding buybacks to investors while helping to maintain a healthy cash flow for the loan originator. In this case, a possible legal resolution to the payment of buybacks would be very time-consuming and costly for all parties involved.
In June 2022, we informed you about a delay in buyback payments that occurred for some investors due to a technical error. We proceeded to manually pay out buybacks until the technical issues had been resolved. All technical issues were resolved in October 2022. In November 2022, we received the first two payments from RapiCredit, to cover buybacks. All funds received were used to pay the buybacks based on the date of due from the oldest. To maintain the loan originator’s healthy cash flow, it was not possible to send funds to satisfy all remaining outstanding buybacks at once.
In the following months, RapiCredit will send funds to pay the next buybacks in regular monthly installments according to the reimbursement schedule. We have already received payment for January 2023. We are now crediting the funds received to the investor accounts again based on the date of due from the oldest. All outstanding buybacks of 60+ days will be paid by the end of June 2023 at the latest, as assured by RapiCredit representatives. The outstanding loans are interest-bearing throughout the due period, so investors do not need to worry about their returns.
RapiCredit is a dynamically growing loan originator. In 2022, the company achieved its best results and consolidated its market leadership. The total volume of loans granted has already exceeded the two-million-euro mark. The estimated EBITDA for 2022 is 15.6%. In the second half of 2023, the total volume of loans granted should reach the three-million-euro mark. In 2023, the company expects EBITDA to grow to 17.3%.
The BONDSTER analyst team assesses RapiCredit as a financially sound and promising company. That is also why we will continue to allow RapiCredit to issue new loans on the BONDSTER platform.
December 14, 2022
To our knowledge, the loan provider RapiCredit is not currently in bankruptcy, and therefore we have not proceeded to remove it from Bondster’s offer. RapiCredit is sending funds to pay outstanding buybacks in stages. We have not yet received all payments from the provider, which is also why all investors’ claims have not yet been satisfied. We are currently trying to get an official statement directly from the provider as to the reasons for the delay in payments and communication of when the funds will be sent.
December 1, 2022
The announced payment for the buybacks payout has not yet been received. We are currently awaiting confirmation that the payment has been sent to our bank account. As soon as we receive the money, we will proceed to disburse it to the investors.
November 18, 2022
We have received a further payment of EUR 150 thousand from the loan originator RapiCredit for the buybacks payout. Buybacks will be paid out Monday 21/11/2022. We expect another 500 000 at the end of next week.
November 2, 2022
During October, all technical issues related to the buyback guarantee from RapiCredit were resolved and everything is now ready. We have received confirmation from the loan originator to send the funds to cover the outstanding buybacks. The first payment will be sent by the provider on Thursday, November 3, with further payments to follow in the following week (week 46).
Any payment received will be immediately used to pay out the buybacks. Unpaid buybacks will be satisfied in order to the overdue date, starting with the oldest.
October 16, 2022
As we informed you earlier, there had been a technical issue affecting certain investors’ buybacks with the loan provider RapiCredit. In its internal system, even some loans that were being repaid duly and in time by RapiCredit’s clients were marked for a buyback.
Until the technical issue is resolved, we have agreed with the provider to make manual buybacks of the loans concerned. In the last three months, RapiCredit made buybacks exceeding 30 million crowns (1.2 million euros).
Since 2020, RapiCredit has provided loans for investment worth over 275 million crowns (€11.2 million) to investors through the Bondster platform.
Upon the request of Bondster management, the technical issue concerning buybacks must be resolved by the end of October 2022 at the latest.
During the last quarterly review of its financial data, RapiCredit’s rating was downgraded from A- to B+. Our risk department took this step in response to the situation concerning buybacks. On the other hand, financial and portfolio data confirmed the A- rating.
For both Bondster and RapiCredit, we believe that the whole situation will be resolved soon and that we will continue to grow together.
September 21, 2022
Dear Investors,
We would like to update you on the current situation regarding the buyback guarantee from the loan originator RapiCredit.
As we have previously informed you, the issues with buybacks have occurred for some investors due to a technical error. In the internal system, even loans that RapiCredit’s clients paid properly and on time were incorrectly marked for buybacks.
While the technical problems were being resolved, we proceeded to manual payment of buybacks after agreement with the provider. Over the last three months, RapiCredit has paid out more than CZK 30 million (EUR 1.2 million) on buybacks to investors.
Since 2020, RapiCredit has provided more than CZK 275 million (EUR 11.2 million) in loans to investors through the Bondster platform.
We are currently negotiating with RapiCredit to pay all outstanding buybacks by the end of October this year at the latest.
RapiCredit’s rating was downgraded from A- to B+ during the last quarterly financial data review. Our risk department took this step considering the current situation with the payment of buybacks. On the contrary, financial and portfolio data confirmed the A- rating.
On behalf of both Bondster and RapiCredit, we are confident that the entire situation will be resolved promptly, and we will continue to grow together.
July 13, 2022
Dear Investors,
We would like to inform you about the current situation regarding the loan provider RapiCredit. We are communicating actively with the provider while working together on the manual payment of buybacks. We expect the situation resulting from technical problems to be resolved in the coming weeks. According to the official statement of the RapiCredit company we received, the provider is in good financial condition. In the first half of 2022, the provider saw an increase in loans granted by 58.5% compared to the first half of 2021. Since May 2022, RapiCredit’s operating income has grown by 89.2%, EBITDA by 178.5%, and equity increased by 100%.
Both Bondster and RapiCredit believe the situation will be resolved as soon as possible and that we will continue to grow together.
June 7, 2022
Dear Investors,
We would like to inform you about the recent situation regarding the loan provider RapiCredit. Due to technical problems between RapiCredit and Bondster, buybacks have been delayed.
We are actively trying to resolve the situation with RapiCredit, and as of May 31, 2022, all buybacks were made manually. Your investments earned interest for the whole period according to their specific conditions. This week, RapiCredit representatives visited us in Prague in person, so that we could work on resolving the situation as quickly as possible. Therefore, if there is a delay in buybacks made by RapiCredit in the following days, the situation will be once again resolved by making manual buybacks.
SpeedCash
June 21, 2023
The status remains unchanged as of 21. 6. 2023. The information published below is still valid.
May 11, 2023
The status remains unchanged as of 11 May 2023. The information published below still applies.
March 30, 2023
The status remains unchanged as of 30. 3. 2023. The information published below is still valid.
February 17, 2023
The status remains unchanged as of 15.2.2023. The information published below is still valid.
December 14, 2022
The status remains unchanged as of 14 December 2022. The information published below is still valid.
October 16, 2022
The restructuring proceedings of the loan provider Speedcash has been ongoing since the June vote of the creditors’ committee on the payment of at least 50% of its obligations but there has been no progress made since then. Our legal representative is constantly monitoring the situation and we will immediately communicate any new information to all investors concerned.
July 13, 2022
Dear Investors,
We would like to inform you about the current situation regarding the loan provider SpeedCash. There has been no further progress in the restructuring proceedings of Speedcash since the June vote of the creditors’ committee to require the payment of at least 50% of the money owed. According to our information, all creditors voted in favour of this proposal after having familiarised themselves with the situation.
Our legal representative monitors the proceedings daily and we will immediately communicate any new information to all affected investors.
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