November 8, 2020
€1.075 through the well, thanks Monethera and thanks Andis Taubers
With a 403 message Monethera disappears from my p2p journey. The third in a row for 2020. It was a short, unpleasant journey with a costly ending. The last correspondence was in March 2020. I have been waiting for the website to go offline before writing off this platform.
Monethera mail from March 2020
Dear investors,
We understand that you have accumulated a lot of questions and are eager to get answers.
First of all, we want to apologize for the relatively long silence. Our team was looking for solutions that could satisfy everyone in these challenging conditions.
Unfortunately, we are forced to inform you about the temporary complete cessation of the work of our platform until the end of the state of emergency all over the EU due to the pandemic of COVID-19.
Several factors prompted us to make this decision: pandemic and closed borders, reduced demand for goods and services of our borrower-companies, agreements cancelation. All this means that neither borrower-companies nor Monethera can fulfill our obligations to you.
The state of emergency is declared in almost all EU member countries. All debts are frozen to avoid a risk of general insolvency and widespread default. And there is a situation when it is impossible to file for bankruptcy against debtors.
We also had to reduce staff due to quarantine and the general economic situation. Our office in Riga is closed. That’s why we apologize for the delay with a response to your mails. From the next week, we will pause any social media activities and support.
We understand that now the most crucial question for every investor is, “What happens to my money, and how can I return it?”
At the moment, we can’t offer you any final solution. As we said before there is a state of emergency declared in almost all EU member countries. So it will be necessary to wait until the coronavirus crisis gets to an end. After this, borrower-companies could return to process all pending transactions.
Regards,
Andis Taubers