Grupeer News: Statement regarding pay-outs under Assignment Agreements

Grupeer has extended the loan repayment periods for 60 (sixty) calendar days.

April 13, 2020

Extended the loan repayment periods for 60 (sixty) calendar days

Dear investors!

GRUPEER is contacting you regarding your investment in claim rights against debtors (borrowers) purchased through the GRUPEER platform available on (hereinafter – Platform) to inform you about current status of the relevant claims. 

As you know, according to terms and conditions of the Platform (hereinafter – Agreement), namely Clause 7.4., the borrower is obliged to repay the respective loans according to terms of the loan agreement, following the agreed schedule or otherwise. Payments of returned loans are to be made to investors as assignees only after the borrower has repaid the loan fully. Furthermore, under the concluded assignment agreements as well as clause 7.13. of the Agreement the assignee has agreed that the lender has the right unilaterally to extend the Loan repayment period without prior coordination with the assignee. 

GRUPEER hereby informs you that considering the currently existing worldwide pandemic and the governmental measures preventing immediate actions towards enforced debt collection of the borrowers debts, the lenders you have concluded assignment agreements with, have exercised the before-mentioned rights and has extended the loan repayment periods for 60 (sixty) calendar days. Thus, according to Agreement and assignment agreements pay-outs to you as assignee are concurrently postponed for the said period. 

Being aware of the possible consequences of the emergency state caused by the spread of Covid-19 such as governmental measures, with the utmost reverence and respect to our obligations towards you and other investors, the GRUPEER team in close cooperation with legal experts shall use this sixty-day period to develop suitable solutions to safe-guard your investments and ensure pay-outs to investors after the pay-outs fall due. Grupeer will put its best effort to prepare and offer you such solutions as payment plans and other alternatives and keep you informed. 

Alla Kisika, CEO

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