Along with proceeding with the recovery of funds from E-Cash and Dziesiatka, we are changing the status for both lending companies on Mintos.
|Status before: Score Withdrawn – Suspended
Status now: Score Withdrawn – Defaulted.
The status change is identical for both lending companies.
We’re changing the status as current estimated cash flows are not sufficient to cover the full exposure. Along with continuing negotiations, we’re defaulting the lending company in order to speed up the process of recovery of funds for investors on Mintos.
We’re changing the status as the company breached the agreement by discontinuing the repayments. The initial restructuring agreement was negotiated and active, with the lending company respecting it by making monthly repayments to investors on Mintos. Currently, a new restructuring agreement has not been reached with Dziesiatka, and Mintos will pursue litigation to recover investors’ funds.
For regular updates on our efforts to recover funds from both companies, please visit Funds in Recovery.
For more information on the classification of the lending companies, including the criteria of changing the status from Suspended to Defaulted, please read the Updated criteria for classifying lending companies.