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Update about the Eurocent case from July 15, 2019:
As of July 2019, the District Court of Krakow still has not approved Eurocent’s creditor list. As we have informed you previously, Mintos has submitted the supporting documentation to the District Court on June 6, 2018, which confirmed the claims of Mintos investors. The expectations are that the final approval of the creditor list might happen during 2019, but neither we at Mintos nor our legal advisers can predict this development with confidence.
You can find Eurocent’s financial statements for Q3 2018 here.
Due to Eurocent’s complex property and legal situation, and its inability to obtain an investor, as of March 20, 2018, Eurocent has ceased its operations. According to the compulsory administrator of Eurocent, continued operating activity is economically unjustified and there are no real prospects for the implementation of the arrangement and restructuring of the company. (more…)
Here is another update on the situation with Eurocent.
As the compulsory administrator was appointed to Eurocent, all commercial decisions now require his approval. Because of this, regular settlements with Mintos were stopped by Eurocent in December 2017. Meanwhile, the District Court of Krakow has not yet reached a decision whether Eurocent can commence the formal restructuring process. (more…)
Here is the latest update on the situation with Eurocent. Since June 8, 2017, the outstanding investment portfolio in Eurocent loans on the Mintos marketplace has decreased by 52%. The total amount outstanding is EUR 190 000, averaging EUR 118 per investor. (more…)
Eurocent S.A. reported consolidated operating loss of PLN 2.7 million and consolidated net loss of PLN 3.2 million for the second quarter of 2017.
Here is an update on the situation with Eurocent-issued loans. After missing repayment of its corporate bonds on June 8, 2017, Eurocent has continued servicing the loans and passing on all borrower payments to investors on the Mintos marketplace. Since June 8, 2017, the outstanding investment portfolio in Eurocent loans on the Mintos marketplace has decreased by 21%. (more…)
Placement of new Eurocent loans on the Mintos marketplace has been temporarily suspended. The decision was made by Mintos management following the information that Eurocent has missed the repayment of its corporate bonds. (more…)
Mintos welcomes a new loan originator to the platform! Eurocent, a stock market-listed company, has joined the Mintos marketplace and, starting today, will place medium-term personal loans issued in Poland on the platform. This is the first loan originator from Poland to issue loans offline. (more…)
Following previous updates, we share news on the developments in the last month on each defaulted lending company and the recovery of invested funds. View the table for financial data and read comments on each lending company below. (more…)