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In regards to the legal actions for protection of the investors who have bought loans of the Georgian company BBG through the platform, we recently informed you that in April, iuvo successfully served the claim to BBG. With this, the lawsuit against the credit company started essentially, and the statutory term in which BBG could appeal iuvo’s claim started as well. During this term, BBG did not appeal the claim. Therefore, it was ruled in iuvo’s favor, based on the facts and circumstances, stated in our claim. However, for the ruling to be effective, it needs to be served to BBG. When it has been served successfully (and is not appealed to a higher court by BBG) and it is effective, we will proceed with the seized assets of the company.
As you know, in 2021 iuvo won the lawsuit for imposing precautionary measures on the movable assets /MOVH/ of BBG in Georgia and the credit company was prohibited from having access to their assets.
