1754 Factory: Proposed Legal Review and Report to Centrifuge Community

Then you did nothing wrong and frankly I don’t know which message was deleted. Of course it is your right to ask to get your money back and the forum is an open place to do that.

Please try again to contact the issuer directly because this is the quickest way to get a response

Of course feel free to ask the creator of this governance discussion about the status of his proposal

Can you please elaborate which message was deleted and by whom exactly? I replied to you because you addressed me directly and so I assumed I erased one of your messages.

We have clear forum rules and a code of conduct (it was approved within the official governance process) which every forum user and community member has to respect.

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Hey all. This is my first post, but I’ve been closely following the 1754 factory issue. If investors arent able to be made whole, it sets a bad precedent for the future. From my understanding, this was among the early pools set up before the Centrifuge Credit Group’s formation. I think the Credit Groups is a huge step in the right direction. Trust is essential; investors need to believe in the processes and parties. If we aim to bring more participants, ESPECIALLY non-crypto native folks to use centrifuge for RWAs, we must have safeguards. whatever these measure are, they should be able to prevent the need for off-chain actions when faced with bad actors… but i dont know what they could be. Is there a mechanism we can implement to ensure that pools are not misusing the funding?

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If you have read through the entire thread, you will realize that the centrifuge team is trying to distance themselves away as far as possible from the creditor. Even the moderators are cleaning up things which people said that are against CFG team, using ‘forum rules’ as an excuse.

Pretty sad tbh.

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Sorry. Looks like I was checking my messages on a different channel. As for my offer to get my investment money back. No one has responded to me so far. What should I do please?

https://gov.centrifuge.io/t/return-of-invested-funds-branch-series-3-1754-factory/5588?u=sunnym

Hey Christian,
When could we have a vote about this proposal?

Hi @christiancdpetersen

Some users @AKff @sunnym are interested to get an update on the proposed review and report. Could you please tell us the current status of your proposal? What are the next steps?

@AKff -

Please see the correspondence below on the North Lakes Legal proposal to review 1754 Factory. Based on this communication and the lack of an engagement letter with 1754 Factory, I have not undertaken any review or report.

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It’s means SAY NOTHING! I am not interesting the update. I care about when my money back!

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It’s better not to expect much from them. Take this as a lesson: don’t trust these so-called ‘DeFi’ or ‘RWA’ passive income schemes in the future. When things go wrong, they will simply push responsibility around and essentially do nothing. Personally, I experienced a 25% loss of my capital, but managed to recover it through airdrop and ido. now i will just wait and see where this goes, Don’t waste your energy on them

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Yup, it’s clear that the centrifuge team had washed their hands off these and doesnt really care about the victims of this rug lmao

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I hold DROP tokens. How to join the creditor committee ?

You should have gotten an email from me - if not you can send me a DM here on the forum.

Thanks Eli.

Does the maturity date make any difference? I get the sense that the investments of Series 3 senior tranche holders are in jeopardy, if not unrecoverable, same as those for Branch Series 1-2.

Why would there be “other assets in the pool” unrelated to Branch?

Is a meeting of the “creditor committee” scheduled?

Finally, for Branch Series 1-3, for senior tranche holders in particular, can an update be provided on the recoverability status of these investments and on the steps being taken to recover these investments.

Of course, the maturity date makes a difference. Loans cannot be in default if they are not mature. Loans are in default only when not paid upon the due date.

The Branch PPM does not limit 1754 Factory LLC to only provide funding to Branch. It can use the funds raised for other purposes (loans).

There have been a number of calls with interested Series 1 DROP holder creditors.

For Series 1, those interested creditors which have joined the committee and signed an NDA are aware of the steps being taken to recover the assets by the creditor committee. I do not know what other steps may have been taken by other creditors not part of the committee.

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Agree. You as a company connecting investors to issuer, should provide regular updates on the 1754 factory situation to investors, but instead, they ask each of the investor to contact a ghost email that never replies whenever we wondering about 1754 current situation, basically they did nothing, It shows how lazy and irresponsible they are, These people are the reason why we need regulation or a ban on the defi.

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Unfortunately this is a rug thats trying to be swept under by the moderators here lmao

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Hey @lucasvo, did we advance somehow on this matter or do we wait for Godot? :wink:

Hello, did you try to message Fabien Dureuil on Linkedin?

Wow it has been 6 months since this thread started and nothing has been addressed by the Centrifuge team.

Insane

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