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Look at this fundamentally (what i prefer). $PeerBerry is a business that provides loans without collateral, which is risky. You are trying to find a security in the business, that is risky by definition. The only security you have is the good will of management of the LOs (to do their best in managing issueing loans portfolios). By providing Group Guarantee - the company tries to create an illusion of security, which is not there. The simple test (no lawyers), go to the bank with this guarantee and see how much money they lend you with that. This is what this guarantee is worth. And it's OK to invest into such business (there are many of those), same as $Mintos and #Finko, could last for some time and could be solved the way investors would receive money back (most of it), but it wasn't. Instead, when the shit hits the fan, the management covers own butts, choses the easiest solutions.

Enforcing even a legally capable Group Guarantee/BuyBack guarantee will be a nightmare. Will require participating in court cases in diffrerent countries, legal spaces, proving same thing over and over (and those countries are not even in EU, so min 1-2 years in every court). Small claims - easier to pay off. With multimillion claim - why not dissolve or just sell operations to other legal body, while claims didn't arrive yet? One bad loan is not a basis to trigger a "guarantee", so the company will have to go into legal state of insolvensy - bancruptcy for this. Then this guarantee will be used to cover not only investors money, but ALL claims to that company. etc. That's why i'm not invested in Peerberry and probably never will. Though Rita is great.

The point is simple, if the company can provide a worthy Guarantee for all the funds it's loaning from investors - it doesn't need to loan it, it already has this money. In P2P, when you hear "guarantee", it's actually a "promise". No free breakfasts.

$Kviku case is prooving it's just marketing for most. No fair company with intent of providing a real guarantee will copy paste a public legal doc of that importance. (on Kviku)

Rita from PeerBerry: Dear all, I found a great example (from the opposite side) of how to do business. At the beginning of February (01-02-2021), the platform kviku presented to its investors a group guarantee memorandum, which is a word-by-word copy-paste from our business partners' Memorandum on cross-corporate guarantees. Why use the brain, if you can just copy-paste and wualia, you have a legal document! Predicting that plagiarism may reveal, they dated their document on 01-01-2020 (to convince everyone that they signed the document earlier than the Aventus Group), but ups ... reckless mistake again, the first day of January around the world is a non-working day.

Bulldog P2P: The story being told of Kviku "stealing" the group guarantee wording deserves an explanation. It was Sterling and I that gave Kviku the PeerBerry guarantee as an example. I suppose Kviku took it to their legal Moscow team, which approved it after about 2 weeks. The original disussion is still present on the Kviku channel.

PeerDuck: Legal docs are the intellectual property of a company. in most cases, 20% change in doc is enough to consider it "new"

#PeerDuck #BulldogP2P