Update about war-affected assets in Ukraine (February)
Debitum has collected the latest information and data (up to the 15th of February) about Loan Originator’s “Chain Finance” borrower and its war-affected assets in Ukraine.
The borrower company continues its operations and focuses all efforts on preserving the maximum possible value of the existing portfolio and recovering financial assets.
In January month borrower managed to repossess 10 more vehicles (2 from Poland) and currently, these cars are in “ready to be sold” status
On the 15th of February, the borrower accumulated in total 24 695 128,10 UAH (587979,24 EUR @ exch. rate uah/eur of 42/1) in the dedicated bank account for Debitum investors.
On the 19th of February 2023 Martial Law in Ukraine was extended for 90 days. It means the situation with repayments to investors hasn’t changed – even collected funds due to the situation business-related funds transfers from Ukraine to other countries are prohibited (including Latvia)
No principal or interest repayments for claim rights will happen during Force Majeure caused by the war situation in Ukraine.
Penalty interest will not be applied as a reason for delayed payments in the Force Majeure situation stipulated in the agreement.
Borrower accumulated funds will be distributed equally to all involved investors after the Force Majeure end or when another solution will be found on how to access the capital of the Ukraine borrower.