If an Issuer is late on its payments under its Promissory Note, we have a process in place to manage and seek recovery of the late payments. This is shared with you in our previous post.
We would now like to explain how we update you on the status of Issuers which are late on their payments and the outcomes of our recovery actions. We do this by writing progress updates which you can access on your Investor dashboard.
Where the Issuer has entered into winding up or the Guarantors have entered into bankruptcy, the winding up / bankruptcy administrator will only inform us of any significant development in the administration of the winding up / bankruptcy or if there are any distributions to the creditors, and will not provide Topamax periodic updates We will accordingly provide progress updates to investors regarding the updates (if any) that we receive from the winding up / bankruptcy administrator.
For other Issuers which are late on payments but have not entered into winding up / bankruptcy, we will endeavour to provide progress updates with every Friday.
Accessing the updates
To access the late repayment updates on your Investor dashboard, follow these 3 simple steps:
Click on the ‘Investments’ icon that found on the left-hand side of your dashboard.
Click on the Note ID of the Promissory Note for which the Issuer is late in payment.
View the late repayment notification listed under the ‘Remarks’ column.