Aforti funds in recovery
The current situation with Aforti is borrower repayments of €24378 of total €1575603 funds in the recovery (1.54%). Who is providing you with this data? Is it exact or it's just Aforti not providing you correct information? Can we expect an update that would show the real picture, as bailiff is now working with Aforti's assets?
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Hi Mārtiņš Puķītis,
Thank you for your feedback.As shared previously in our Monthly updates: "The bailiff has been assigned to the case and has initiated the process of investigation and seizure of various Aforti company's assets in order to facilitate the debt collection and the transfer of the collected funds to investors on Mintos".Updates available here: https://www.mintos.com/en/funds-in-recovery-updates/As Aforti has defaulted, there is no one sharing and updating the loan portfolio of Aforti. As funds are recovered they are redistributed according to the amortization sequence stipulated in our terms and conditions clause 10 Payment for the services of the Platform and payment waterfall. User agreement: https://assets.mintos.com/B969D561-4647-941B-487C-0013CC852B4E.pdf0 -
Is bailiff receiving funds from borrowers on Aforti's loans? If yes, then why are you not updating the information? If no, then where does the money from borrowers go?
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Hi, Mārtiņš Puķītis, at this stage of Aforti's liquidation, the funds do not come anymore from the recoveries of borrower repayments as the company was suspended and later defaulted because Aforti failed to transfer borrower's payments back to Mintos investors already in 2019. As the bailiff had been assigned to the case the bailiff started seizing various Aforti company's assets in order to facilitate the debt collection and the transfer of the collected funds to investors on Mintos.
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