Nera Capital!!
What is happening with Nera Capital loans?. All contracts tell only interest payments till expiration. But today NC started principal repayment of all loans running for 3 months or less and also some 17% interest loans still running for 8 months. Are there no secured agreements between Mintos and Credittors? Seems like it and an ongoing issue creating most of the loan problems?
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There is little new information in the latest update. And there is a vague statement regarding interest payments. If interest has been accrued as normal for the final days of March, April and May up to and including 27 May, why can’t this be done in June for the notes that are still running? It’s not that difficult to answer, but the refusal to address this issue only serves to heighten mistrust. That’s pretty much mistake number one in communication.
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Personally I stopped reinvesting and I withdraw regularly and put the money in a deposit account which pays 3%/year. Not only because of Mintos, but because of the nutter in the white house.
Global economies are heading towards recession, interest rates will shoot up, all bad news for investments like Mintos & Co.
I consider Nera and Planet42 as total losses. Hopefully it stops there and I still get out with a 5% gain.
Planet42 I've little hopes to see anything besides what has repaid until February.Nera hopefully will sort out with time
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Zena,
absolutely agreeable. I started my P2P experience with Mintos, the first platform I could use to withdraw my savings from the banks in my country, which were offering me a ridiculous 2% on 3- to 5-year term accounts,
and that's here I got the worst of it. I have € 75,000 on Nera, I fell for it, who knows what I'll see again. A great lesson. I won't be concentrating my money on just one person anymore. But I'm very disappointed and bitter, and I have to lick my wounds. Consider that I'm also stuck with the defaulted EDS bonds. Goodnight, Zena, goodnight, investor friends, and good luck to everyone. Until the next episode of the soap opera.0 -
Marek (Mintos)
One question not clear for me, if nera is going well.
Will the buyback guarantee apply ? I understand law firm don"t pay wich is a problem but if nera doesn't apply buyback that's an other violation of agreement it seems to me.
So can you tell us ?0 -
Cirillo,
Dear Cirillo, and here's the crux of the matter, in my opinion! If they repaid the capital,.all of us savers involved would be in for a treat. But as far as I understand, there's no money. I'm already past due with €49,725, late, in the first fortnight, and it represents 66% of my total. What do you think? You've been optimistic so far, and I hope it ends this way. But my personal opinion is that not even Mintos would have expected such a default. The collateral is the lawsuits filed by the law firms that blocked payment to Nera, and if they fail, we'll be watching the money through binoculars because not even the insurance company will respond. Correct me if I'm wrong! It's a major systemic risk based on a very risky business model, and the unthinkable has happened! What other collateral can Mintos rely on? Perhaps the agreements in these cases should be more stringent to better protect investors! In my opinion, if Mintos doesn't resolve this issue as best as possible, it will suffer significant reputational damage. If it does resolve it, however, it will truly demonstrate its leadership, number one in the lending market. We will regain great trust!
That's all. I'd appreciate your response. Thanks. Bye.0 -
Hello,
I am still very optimistic on this case yes.
First If nera manage to pay without any problem for such a long period there is no reason money wasn't coming.
Secondly Nera is not only base in uk but is mor diversified so nera maybe can start to pay it's loss from other country maybe that's my question. While nera doesn't fill for liquidation nera must pay even if paying mean going to liquidation...
That's my point no problem to loose money but if I loose money Nera should go bankrupt first and then I will accept to loose money
@Marek can you clarify this point
And thirdly buyback apply only +60days after default wich mean it should start only now...
Finaly Dear Pierre Joseph Vitetta, I don't care you loose 50k€ or any amount ! The REAL PROBLEM IS that you don't diversify and do all in. If you had diversified and 50k€ represent only 5% of you total portolio you shouldn't be worried that much
I have also invest several thousand € in nera and don't cry like you0 -
Dear Cyril,
I have so far simply engaged in polite and respectful dialogue because I believe this is the purpose of the community, to exchange ideas and opinions, but you, for the umpteenth time, address me in an offensive and disrespectful tone towards me. It is the third time, I believe, and I have pretended nothing has happened until now, but now enough with the insults. I will no longer respond to the dialogue, and I know you will care little, but I think I will ask the moderator to block you.
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Dear Pietro Giuseppe Vitetta,
I ask a legit question to marek. And you answer with supposition....
I have no supposition just a legit question. And again the amount you invest has no importance on that topic !
I note that you use english and enjoy that.
The only part I agree is that mintos doesn't seems pro active or too kind with loan originator.
At least they seems to hide their action maybe for good reason but really frustrating.
I also note mintos try to improve their communication process so Yeah has a crowdcube investor too I still nevertheless believe in mintos and continue to put money on it.
I try to be factual that's it.
Sorry for that i will only now react to official mintos
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I appreciate the response, I believe that the contrast is perhaps due to different character structures and environmental upbringing inherent in the places and countries where each of us lives; this sometimes does not allow us to fully understand the meaning of the discourse, the paradoxes, the irony, or the real tone of the discussion! I think this too. It is understandable in any case. I agree that Mintos is improving in communication. Perhaps it is under a lot of pressure from us investors. I will also follow this approach for the subsequent posts. Regards
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Dear Investors, a reminder that everyone here is dealing with real money and real decisions. Disagreements on strategy are welcome - that's what makes this community useful. Let's keep the tone constructive, especially when someone is sharing a difficult situation.
On the diversification point itself: it's a fair and important one. Spreading exposure across assets and lenders is a core risk management principle - worth revisiting for anyone building or adjusting their portfolio.
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I don't think it's very helpful to point fingers at each other during this crisis. The only party to hold accountable here is Mintos.
@Cyrill It makes little sense to ask the moderators questions about NC. That’s rather naive. They are marketing communicators, instructed to present the company in the best possible light and answer simple questions from beginners. If I ask my account manager a simple question, I get an answer; if I ask a critical or confrontational question, I never get a response. Risk mitigation only goes one way: toward the company and management—that’s what they’re paid for. Cyrill, I believe you also own shares in Mintos and may want to view things more positively than the current situation asks for.The fact is that, following Alivio Capital, Planet 42, MFOfinance(see my last comment), and Nera Capital, Mintos is sitting on the sidelines and isn’t even managing to keep track of the debts, thereby creating a smokescreen over the current situation. For example, you cannot record unpaid interest as paid. You cannot add 3 months of interest to one series and only 2 to another because it is expiring. The series with interest date 20 that expired in May is listed as overdue but has one-third of each note listed as running outstanding principal and two-thirds as pending. But the entire notes have matured?
The series with interest dates of 3, 5, and 6 that have expired in June, on the other hand, are not immediately listed under overdue payments and are missing their final month’s interest. These are simply hard facts that make no sense and are not explained (of course I asked my acc. manager first). Because apparently, they have no answer to their own algorithme or don’t feel like explaining it properly. Or to prevent you from later knowing what amounts you’re contractually entitled to. Mintos is in this way creating their own bubble of mistrust.0 -
Ugo,
if you're sure, don't limit yourself to the community. File a formal complaint like I did and wait for a response. Make your reasons official! They would also be the reasons of others.0 -
Mintos has released a new elaborate update which, as expected, contains nothing new and no concrete details. If I strip away the usual euphemistic marketing jargon, the following remains:
we have already moved the notes that have expired – even though they have not yet been outstanding for 60 days – to the Mintos Graveyard section. You may hear more about this in the autumn, or you may not.
Furthermore they admit that they have made a mess of calculating the accrued unpaid interest on both expired and current notes. 'We are currently working on a solution to ensure that the payment status displayed on the Mintos platform accurately reflects the actual status of these investments and will provide further updates as progress is made'. Gonna follow this closely as mintos has a bad reputation here. I remember the promise of the interest date column should return but never did.
The rest of their comment mostly consist of 'We will provide further updates as progress is made', which in Mintos language means wait and see if any creditor is willing to do something for investors and if the contract we made wit creditors might be of any legal value.
A same kind of update came from MFOfinance with as of today 20 million in the graveyard section. Once all the loans of Nera Capital are matured (in 7 months) Mintos has created a extra 81 million default on top of the already plus 110 millon (wowwow, planet etc) and already declared winner of waisting peoples money. Working at Mintos is obviously not something you tell at anniversary parties of friends.
Currently there is ongoing criticism on European crowdlending platforms and some pressure on national banks, but I am afraid it might be too late for current Mintos investors.
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Okay, now I'm really pissed off! How is it possible that MFO FintechFinance has accumulated €20 million in outstanding debts out of nowhere, while Mintos blithely continues to offer the company's bonds and acts as if nothing's wrong? And now you practically need a magnifying glass to find companies on this platform that make their repayments on time and don't have any outstanding debts. Mintos risk scores, buyback obligations, payment plans: it's all just talk, not worth the paper it's printed on. My patience has run out. No more reinvestments or new investments.
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Things are moving. All Nera C notes (matured and not matured) have been taken out of the secondary market. You can only find your matured loans as overdue, although at the same time they have the status default. With and without the correct accrued interest.The following link shows currently almost 7 million in default:
https://beyondp2p.com/loan-originators?page=6&sortBy=pendingPayments&sortDesc=false
MFOfinance is here registered for 10+ million in default althought mintos mentions 20 million, maybe not up to date yet.
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1. According to AI, what are the chances of getting your money back from the NERA C notes?
You can roughly break this down into 3 scenarios:
🟢 Optimistic scenario (partial or full repayment)The SRA investigation is concluded without major sanctions for any of the law firms involved
Overdue payments are released
NERA still receives cash and repays Mintos👉 Probability: moderate but not out of the question
👉 Duration: often months to >1 year🟠 Base-case scenario (partial recovery)
A portion of the claims is eventually paid out
But delays + costs + uncertainty weigh on returns
You receive a portion of the principal + interest
Often spread out and delayed👉 Historically, this is the most common outcome for this type of Mintos default
🔴 Pessimistic scenario
Law firms fail to pay out (in full) or go under themselves
NERA receives insufficient cash flow
Recovery process yields little2. And can the Mintos buyback be useful here?
The buyback is only as strong as the originator’s liquidity
If NERA itself is stuck in a cash flow bottleneck, that buyback may:
be delayed
be temporarily “suspended”
or be unenforceable despite the contract
👉 Practical effect:
the buyback is legally in place, but not cash-backed0 -
Ugo,
Thanks for the updates, Ugo.
I won't add anything else. I'm giving up! I made a foolish mistake. I thought investing on Mintos was almost a guarantee. Does the website's homepage even talk about peace of mind.
But I'm not stupid; it's a lesson I'll never forget! I think Mintos, for its part, should strengthen its due diligence on the originators it accepts. Investors are valuable customers; these results and statistics scare them away. Furthermore, the Nera issue is very complicated because we're not dealing with forecloseable collateral or guarantees. Just lawsuits that are apparently going to pieces. What are we foreclosing on? Nothing! As for the insurance guarantee, I just received confirmation from Mintos that it only works if the lawsuits are carried out and therefore doesn't cover the bankruptcy of the firms. We're really in good shape! I'm gradually withdrawing my money from all the platforms and bringing it back to Italy with a 3% commitment. The outlook is uncertain. Too many insolvencies around. Good luck everyone.0 -
Ugo,
Did you get the answer you were expecting from SRA on the Nera issue on June 5th?
I didn’t get any replies to the email sent directly to Nera. It was predictable.0 -
@peter
Not yet, I sent them a reminder yesterday. The fact that NERA does not react has to do with the following:
Litigation funders are not automatically subject to supervision by the Financial Conduct Authority (FCA).
They are generally not considered financial institutions, such as banks or lenders.
There is no specific legal licensing requirement for this activity.
While they do interact with parties with whom they have contracts—such as law firms and Mintos—they are not subject to any public disclosure requirements. Legally, they are more akin to private equity than to lending.0 -
What does it mean 2028 as the "expecting time"? Does it mean that only during 2028 can i expect to start receiving "something" (if all goes well)? Or is it possible to start receiving "something", even if not "all", before 2028?
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Ugo
Thanks Ugo. Later.
For Victor
There's no point in getting worked up. Unfortunately, we're stuck.0 -
I would like to inquire if there is someone that could please reply to my questions. These were clarification requests. Thank you, best regards
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I have just read the latest update in details.
Something that sound strange to me is that at first it was a SRA Investigation but now it explains us that the problem are underlying cases taking longer ?
How law firm manage to pay their interest at first ? and is SRA the real problem ?
It explains also some merging cases but it seems smal detail regarding the volume of loans nera emitted. I don't think all this cases a related and need to be merged isn't it ?
Can I have an official reponse from you Marek (Mintos) or Lucja (Mintos) ?And please not opinion from non official member
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Dear investors,
Please find our reply below:
1. What does the 2028 estimate mean?
2028 is the current best estimate for when the underlying litigation cases could start to be resolved and recoveries begin. This is based on estimates provided to us by the lending company. It does not mean that nothing will be received before that date — partial recoveries may occur earlier depending on how quickly individual cases progress. The timeline is inherently dependent on court processes and case resolution, which means it can improve if cases are resolved faster than currently anticipated.
2. Is the SRA investigation the real problem, or is it the underlying case delays?
Both are connected. The root cause is that the underlying litigation cases are taking longer to resolve than originally anticipated — the Notes were structured with a 2-year term, but case resolution has extended beyond that. This has put financial pressure on the law firms involved. Regarding case merging, this is a deliberate legal strategy to improve the chances of success and accelerate resolution. It is applicable to a significant portion of the cases, as the liable parties are a small number of large financiers, making consolidation a practical and effective approach.Regards,
Mintos Team
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Thank you for the clarifications Marek
Best regards
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Thanks for the revelation.
The picture is starting to look quite different. I am now reading for the third time that there is a likelihood that claims will not be settled before the Notes expire. That this is also normal, as it is a well-known structural feature of litigation finance. The SRA investigation may well have little impact on this. At most, it may cause some additional delays and probably is also used as an excuse now.. How misleading it is to read again the text of the NC Notes from two years ago at the time of their announcement: Nera Capital Notes had never previously experienced any payment delays or defaults, and was presented by Mintos with a risk score of 7.6.
If it now turns out that delay is so obvious, could Mintos not have known in advance that mass claims in litigation finance can take longer? Is this really only coming to light now that the principal payments are not being paid for?
And for anyone seeking certainty: Nera Capital Ltd has no contractual obligation to support Nera Capital Funding 2 DAC (in which the notes are held). Nera Capital Ltd manages the underlying receivables and the recovery process, but does not therefore guarantee any repayments. In normal language it says: 'You' re fucked by the lawyers'.0 -
Hello Marek (Mintos) Lucja (Mintos)
Thank you for your exlpanation, but this arise one more interrogation.
Like Ugo it seems SRA investigation have far less impact than presented at first.
Then the real last question :How do they manage to pay until now without case resolution by definition? And what about rolling the debt if it take longer?
If they manage to pay every month why not rolling current debt I would like far more than happy to extend my note !0 -
Dear Mintos,
could you please respond to this post of mine published 28 days ago?
I have loans from Nera on both Mintos and Bondster. When things started to collapse here on Mintos, I sold about 98% of my Nera portfolio on Bondster (albeit at a discount) and really only kept a minimum out of curiosity about how things would develop on Bondster. What is VERY INTERESTING, however, is that Nera pays interest on Bondster ... the last interest came today. So what the hell is it really like??? Surely it's not a coincidence that the default on repayments occurred as a surprise just before those huge principals were due to be returned? Nera can pay interest on Bondster but not on Mintos? Is someone making fools of us?
Nera sent Bondster another interest payment this week... so IN ANY CASE Nera can send interest... although of course I believe that Nera is getting into "problems" on Bondster COMPLETELY RANDOMLY right before the principal due date … just like on Mintos.
Nera are fraudsters and they have completely deliberately robbed us all
You should take all conceivable enforcement steps IMMEDIATELY and DEFINITELY not wait to see if any of that 61 million starts to come back in two years!!!
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Jenda80
Sais Ugo that Nera Capital Ltd has no contractual obligation to support Nera Capital Funding 2 DAC (where the notes are held). Nera Capital Ltd manages the underlying receivables and the recovery process, but therefore does not guarantee any reimbursement. This is terrible and inconsistent. What legal mechanism was adopted to prevent the debts from being covered?
I laughed at what you said, Jenda, a few weeks ago. Nera pays on Bondster, but not on Mintos. You too should file a formal complaint. Mintos must intervene decisively, even if it means blocking payments on Bondster, if possible, for our protection0 -
@Cyrill
I guess you put up a fair and realistic question. Curious if you get a fair answer to it
In the meantime the SRA has postponed her answer to 26th of June. But maybe the SRA isn't that important after all. Looks like Mintos has been tricked in an agreement without obligations to sell it as good news to investors.
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