Nera Capital
Nera Capital / Mintos — Questions requiring a factual response
Given the prolonged suspension of payments and Mintos’ stated target of having the restructuring effective by the end of August, investors need factual answers to the following questions.
1. Has the Nera restructuring agreement now been signed? If not, what specifically remains unresolved, and what is the new expected signing date?
2. What are the proposed repayment terms? Please state the expected treatment of principal, accrued unpaid interest, future interest, maturities and the projected repayment period.
3. What is the current amount owed to Mintos investors? Please provide separately principal, accrued interest and any other amounts.
4. What assets actually secure Mintos investors’ exposure? Please identify the underlying borrower law firms, outstanding loan amounts, security held against each borrower and whether that security is first-ranking or subordinated to other creditors.
5. What is the creditor waterfall? In an enforcement or restructuring scenario, which creditors rank ahead of Nera Capital Funding 2 DAC / Mintos investors, and for what amounts?
6. What cash has been received from the underlying law firms since payments to Mintos investors stopped? Please state how much has been received, where that cash is currently held and how it has been applied.
7. Has Nera or any related entity continued servicing economically comparable obligations on other investment platforms or to other creditors? If so, please explain why those creditors are being paid while Mintos investors are not, and whether they have different contractual priority or security.
8. What due diligence did Mintos perform before admitting these Nera Notes? Specifically, did Mintos independently verify borrower solvency, collateral/security, expected litigation cash flows, the adequacy of the required cash reserve and the assumptions used for case-resolution timing?
9. What ongoing monitoring identified deterioration before payments stopped? Please provide the dates on which Mintos first became aware that case resolutions were materially behind forecast, that the cash reserve was being depleted, and that Nera might be unable to meet scheduled payments.
10. Which information concerning Nera and the underlying borrowers was independently verified by Mintos, and which information was based solely on representations from Nera or the borrowers?
11. Why were automated Mintos portfolios permitted to build material exposure to Nera while these risks existed? Please explain the applicable concentration limits, Nera’s Risk Score history, and whether Mintos believes the information available to automated-portfolio investors adequately reflected the actual risk.
12. When will investors receive the restructuring documents, or a sufficiently detailed summary, to independently evaluate the agreement? A statement that Mintos considers the restructuring satisfactory is not a substitute for disclosure of its economic terms.
These are requests for factual information needed to assess an existing investment, not requests for forecasts or assurances.
Please provide a substantive response by close of business on Friday, 4 September 2026.
If particular information cannot be disclosed, please identify the specific question, explain why it cannot be disclosed and state when it is expected to become available.
0
-
Thomas della Peruta,
Thomas, listen to me carefully. Your chat is complex and well-detailed. You’d do well to submit it as a complaint. That way you’ll have an official response to possibly contest and legal records. That’s my advice as a mistreated investor.
0 -
Detailed questions that are completely viable and in fact should be asked by the Bank of Latvia to Mintos as the principal supervisory authority. At least it is worthwile to send this to them as a concerned investor. Mintos probably lacks the courage to answer these questions and will come up with an argument like interfering with the process might lead to negative effects in the reclaiming of the investments.Excuses we heared many times before.
0 -
Ugo,
What do you suggest doing? How can we protect ourselves? Let's do it all together!0 -
This is an email I sent to complaints@mintos.com
Subject: FORMAL COMPLIANCE INQUIRY: Nera Capital Funding 2 DAC Exposure & Risk Mitigation Review (Investor ID: [Insert Your Mintos ID Here])Dear Mintos Investor Support / Compliance Team,I am writing as an active investor with direct financial exposure to the notes issued via NERA CAPITAL FUNDING 2 DESIGNATED ACTIVITY COMPANY (DAC), which are currently flagged as "Negotiating" and classified under "In Recovery" status on your platform.My specific exposure to Nera Capital Funding 2 DAC amounts to €1,581.13 out of my €12,098.69 total account value, representing exactly 13.06% of my entire active portfolio on Mintos. Given that these notes have a stated maturity date extending to 2028, this high concentration level and prolonged asset freeze directly and severely impact my personal capital allocation, liquidity, and overall risk mitigation strategy on your platform.I am formally requesting explicit clarification regarding the severe structural disconnect between Nera Capital's public corporate updates—which highlight new fund milestones and institutional asset expansion—and the ongoing default on retail investor cash flows on Mintos.As a licensed investment firm regulated by the Bank of Latvia (Latvijas Banka) under the EU MiFID II framework, Mintos owes its clients a strict statutory duty to act honestly, fairly, and professionally. In light of this, please provide substantive, compliance-level answers to the following operational and legal points:- Ring-Fencing and Cross-Collateralization of Irish DAC Structures: Has Mintos legally analyzed whether the capital structures of Nera Capital’s newly announced alternative funds are ring-fenced from the legacy special purpose vehicle—specifically Nera Capital Funding 2 DAC—backing my Mintos Notes? Is there any enforceable legal mechanism, corporate guarantee, or inter-creditor agreement that allows capital from these new milestones to be deployed to cure the defaults on this specific DAC?
- Adherence to Mintos Risk Disclosure (Version 6, 03.03.2025): Your disclosure notes under 'Risks specific to Notes' that recovery costs take priority over retail investor distributions. I formally demand an itemized disclosure of all recovery costs, legal fees, or administrative deductions currently being charged against the Nera Capital Funding 2 DAC pool by Mintos or its agents. Furthermore, under the 'Intermediary Risk' clause, please provide evidence of the pre-issuance and ongoing cross-border due diligence Mintos performed on the ~80 UK law firm intermediaries prior to freezing my €1,581.13.
- Independent Verification of SRA Impact: Mintos has previously stated that the default stems from a voluntary payment halt by UK law firms undergoing a Solicitors Regulation Authority (SRA) solvency review. What independent legal audit or direct verification has Mintos obtained to confirm that these funds are genuinely paused for compliance reasons, rather than masking a material insolvency event at the borrower level? Relying solely on the borrower’s unverified representations fails the standard of care required of an EU-licensed investment firm.
- Transparency on "Negotiating" Status and Restructuring Terms: In light of the heavily delayed restructuring term sheets, what is the exact progress of the active negotiations? When will Mintos transition from generic platform updates to a full disclosure of the economic terms, proposed recovery timelines, or potential haircuts? Investors require hard data to independently evaluate the commercial viability of the recovery plan for notes maturing in 2028.
As an investor managing a 13.06% exposure to this specific counterparty, I require transparent documentation to evaluate my portfolio’s risk. Please escalate this inquiry to your Legal and Compliance departments. I look forward to a comprehensive response detailing the exact legal protections and recovery frameworks currently being enforced.Sincerely,[Your Full Name]
Mintos Investor ID: [Insert Your Mintos ID Here]
Email Address: [Your Registered Email Address]0 -
For anyone who was unable to join the Discord group for Mintos investors affected by Nera Capital / Nera Notes, here is a new invite link: https://discord.gg/TJkmfSzkc
The link will remain valid for 30 days from the date of posting.0 -
Eleftherfos,
A fine letter. Thanks for sharing it with us. Unfortunately, I am much, much more exposed than you are.
I agree. Regards.0
Войдите в службу, чтобы оставить комментарий.
Комментарии
Комментариев: 6