MONEGO
Dear Mintos, I would like to have more clarify into Monego. So far the updates are very blurry. Mintos and Monego are related parties. Hence, I would really appreciate the clear communication regarding the tax audit as well as the plan for recovery ... so far every update since the beginning of the year is just neither informative nor open. THX
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Permanently deleted userHi David Polach could it be that you haven't checked the Funds in recovery page for the last couple of months? It is available from your Mintos profile and we update it on the first week of each month. The tax audit was done in February this year and Mintos has recovered EUR 2.3 million which have been transferred to investors on Mintos. According to the liquidator, The further repayment plan is for a monthly amount of approximately EUR 250 000. This amount matches with the monthly portfolio collection volume at Monego. We will update investors as soon as we have information for the next repayments.
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Hi Mintos, can you comment on the additional ~800k that were paid to investors a couple of week ago after the 2.3M have been paid out? Were these one time only, or part of the 250k per month?
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I'm sorry for digging up an old post, but its relevant to the Monego case. From the overdue page I can see that Monego is making small regular payments (roughly 50k EUR per month) each month. So my question is: how is this amount distributed between the investors? From my personal experience in my overdue page I can clearly see that my personal overdue amount from Monego has been sitting at the same value since April of 2021 (!!!) without a single cent rolling in my account for the 2 claims I had left.
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Hi Mintos, can we have an update on Monego please? Expected recovery in 2023, yet there seems to still be close to 1 million remaining to be paid to investors. At at repayment of 40k/month, it looks like we'll be another 2 years waiting to be repaid. Please can we have an update.
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Mintos, could you please answer the question by Stephen Brady and provide us with an updated timeline or a repayment plan for the remaining amount in recovery.
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I had a reply by email - Mintos estimate that the recovery should be finalized by the end of 2024.
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Mintos, could you please confirm the finalisation of the recovery by 2024 and provide a plan for the repayment during 2024. During the last year Monego has paid around 40.000€ a month and if this continues we are looking at a 22 month repayment time which means it is finalised by the end of 2025 and not 2024. Unless, you don't expect more than 400.000€ to be payed back and the rest to be put into bad debt.
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I seem to have received all my Monego principal back in the last few days. Only interest left outstanding.
Yet, from the updates, no payments have been made.Is there some system error, or were Monego investors repaid?
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