Update from iuvo about CBC

In regard to non-fulfillment of contractual obligations by the originator CBC (KFP), including: activation of buyback guarantee, transfers for payments of borrowers, payment of fees to iuvo, the platform took the following actions in order to protect the interest of the investors:

–  On 28.07.2020, out-of-court summons was sent on behalf of iuvo, inviting the originator to voluntarily make the overdue payments of contractual obligations. The defined deadline is 14 days after the invitation is send. No payment has been made up to this moment.

–  Iuvo is actively cooperating with a Polish law firm in order to take legal action in the absence of payment according to the sent out-of-court invitation.

–  Considering the circumstances, the offering of CBC loans on primary and secondary market has been suspended.

Iuvo uses all possible tools for communication with the company, and for the easing of the conditions, considering the difficulties, caused by the current situation in the world. In this regard, a 3 month grace period for all loans was ensured. After its end and the gradual return of the loans to their standard payment schedules, the non-bank financial company stopped making payments to iuvo, and it is in violation of contractual obligations.

Our team will be sending you up-to-date information about the measures taken and the following actions on our behalf. Protecting the interest of our investors remains the main focus of our work, and we continue to work in order for iuvo to stay the best place for your funds.

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