compulsory administrator – Passive income

Update 3 on Eurocent loans on Mintos peer-to-peer lending marketplace

By MPI19th April 2018News, Peer-to-Peer Lendingcompulsory administrator, Eurocent, investors, Mintos, money

Due to Eurocent’s complex property and legal situation, and its inability to obtain an investor, as of March 20, 2018, Eurocent has ceased its operations. According to the compulsory administrator of Eurocent, continued operating activity is economically unjustified and there are no real prospects for the implementation of the arrangement and restructuring of the company.

Mintos says it is their priority to protect the interest of the investors and they are currently doing everything possible to ensure this. Their lawyers are now reaching out to the administrator and the board of Eurocent to see how they can recover the money owed to Mintos investors as soon as possible.

You can read the previous update on Eurocent here.

Update 2 on Eurocent loans on Mintos peer-to-peer lending marketplace

As the compulsory administrator was appointed to Eurocent, all commercial decisions now require his approval. Because of this, regular settlements with Mintos were stopped by Eurocent in December 2017. Meanwhile, the District Court of Krakow has not yet reached a decision whether Eurocent can commence the formal restructuring process.

The management of Mintos continues to be in close contact with the administrator of Eurocent about the company’s situation and possible future developments. Currently, Mintos is in the process of evaluating all options to retrieve the outstanding amount owed to investors on Mintos.