Monthly update for suspended and defaulted LO on $Mintos:
- Dziesatka still refuses to continue or cannot continue with the payments
- Finko Ukraine has issues with their bank and could not make a payment last month
- Cashwagons liquidation is official and submitted
- Alexcredit collected 30.000 Euro until now from 4.x million outstanding debt
- Capital Service paid as announced
- Varks continues to pay very little. In Fact: only 1/3 of the money that Varks receives goes to Mintos investors, around 2/3 are used to pay operational costs... The Varks portfolio looks bad, with almost all now being 181d overdue at least...


Today, Finko Russia paid all outstanding pending payments on Mintos, around 500k. This has been announced for a while but there were some delays. Finko Russia seems to have completed the winddown, with no losses for investors. Whether they paid interest on the pending payments remains unknown, but let's be happy with the final settlement given the state of Finko in general. You can verify, as always, on the Mintos Statistics page.


5 Loan Originators exited $Mintos:
- Stik Credit (Bulgaria), can get exposore to their loans in $Afranga
- Finko (Georgia)
- BB Finance (Finland)
- ITF Group (Bulgaria)
- Aasa (Sweden)

1 about to exit:
- Capitalia (Latvia), can get exposure to their loans in $Capitalia

Cream Finance is also working on it's own platform, might be one of the next LOs to exit.



Chances of #finko investors getting high % recovered goes down each day. First war, now attempted coup: www.bbc.com/news/world-europe-56194421 $Mintos

Comment in Telegram about P2P & group guarantees:

Giannis Lever: A lot of discussions about the simple thing.

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)

Peerduck comments about $Mintos: "My take was, and remains the same - invest, but avoid mintos-affiliated companies. I was telling it back from 2019. And Finko clearly shows why I was right"