Project update

Update from the originator: 

"We inform you that we have updated the announcement of the pledged property on the aruodas.lt portal ( https://www.aruodas.lt/sklypai-vilniaus-rajone-putiniskiu-k-vilniaus-g-parduodami-slypai-putiniskiu-k-11-1336658/ ). So far, the property has not attracted much interest. We will inform you when the negotiations with a potential buyer are started. Best regards, Nordstreet team."

Update from the originator: 

The originator would like to inform that due to certain formalities, the procedure for the realization of the pledged property has stalled a little. The originator tries to eliminate these formalities as soon as possible and make maximum efforts for the sale of the mortgaged property.

Update from the originator: 

The guarantor's enforcement case was closed with a deed of impossibility of recovery, since the guarantor does not have any assets to which recovery could be directed. It is possible to re-submit the enforcement document within a period of 5 years from the adoption of the act of impossibility of recovery. The originator will try to find ways to recover the loan amount as quickly as possible. 

Update form the originator: 

The originator would like to inform you that the negotiations with the potential buyer are still stuck due to missing information about the property, the buyer's holiday and several other formalities. The originator hopes that by the autumn the preliminary sales agreement will be signed and the advance paid, which will be immediately distributed to the investors. The originator makes great efforts to solve the causes of the jam and sell the mortgaged property.

Update from the originator: 

Negotiations are underway with a potential buyer regarding the sale of the mortgaged property. For now, the negotiations are stuck, because the originator is waiting for the clarification of several formalities that will allow the buyer to more accurately assess the possibility of acquiring the property and developing it.

Update from the originator: 

The mortgaged property was not sold in the first auctions, a decision was made to take ownership of the property to the originator and sell it during the free sale. In this way, the risk of the property being sold for 60% of the appraised value was avoided. Negotiations are currently underway with one potential buyer, but if not signed, it is tentative. contract, until May 10, the originator will distribute ads about the property for sale. The formalities necessary for the transfer of the property are currently underway, ownership of the property will be transferred to the originator on May 2 or 3.

Update from the originator:

After the first tenders failed, it was decided to take over the property for administration under the ownership of UAB Nordstreet. Such a decision was made because a buyer of the property was found, with whom a preliminary contract for the purchase and sale of the property is being concluded. Considering the fact that taking over the property requires a lot of legal action, it is expected that the property will be taken over and sold by the end of April. At this time, the amount agreed with the buyer will cover the invested loan amount, unpaid interest and part of compensatory interest for the investors. The originator will inform you about the progress of the process.

Update from the originator:

The first auctions of pledged property have been published, you can follow their progress by entering this link in your browser - https://www.evarzytynes.lt/evs/pages/auction.do?id= 267704 &number=238176

Update from the originator:

A certificate of valuation of the pledged property was received. The determined value of the property is EUR 187,000. The originator's petitions bailiff appointed a new appraisal of the property in order to determine the exact value, which based on the previous appraisal should be higher. A new assessment will take about two weeks.

Update from the originator:

The bailiff informed the originator that the property appraiser reported will be ready by November 14. After receiving the property valuation and sending it to the parties, tenders are published after the 20-day deadline, during which a complaint about the value of the property can be submitted.

Update from the originator: 

The bailiff has appointed an appraiser who is currently conducting an expert assessment of the value of the pledged property. It is explained that in accordance with point 96 of the instructions for the execution of decisions, the bailiff announces the first tenders no earlier than twenty days after the date of sending the information on the valuation of the seized property to the debtor. At the written request of the debtor, the bailiff may announce the first auction even before this deadline.

Update from the originator:

This week, the court's order approving the proposed curator of the debtor entered into force. The bailiff mentioned that next week he will assess whether a new valuation of the property will be required or whether he will send an order regarding the determination of the value of the property according to the old valuation. Depending on whether a new property valuation is required, the publication of bids can take from 20 days to 2 months.

Update from the originator:

A curator has been appointed by the court so now forced sale of the property will be initiated, the auction is expected to be announced during September.

Update from the originator:

The originator has started the recovery process, sent the request for enforced recovery to the notary. Waiting for the note from the notary, then the bailiff will start doing his part.

The client at the same time is trying to sell land plots and tries to negotiate the terms.

Update from the originator:

The originator has informed us that they are preparing the payment of the late interest for this week.