Fabien,
As per your last message here and our email discussions, you provided a guarantee to all 24 investors which has now demonstrated to be immaterial, given you have missed the deadline of full repayment by 31st March 2023.
What was the point of this guarantee you extended to us given you are unable to make us whole?
Full repayment of principal plus interest must be made immediately and without any further delay.
Thank you, Naji, for your message. It seems we are in agreement. Kindly review our previous official correspondence (email). The guarantee (Indemnification letter), which covers both principal and interest, has not been withdrawn or altered. Please donāt hesitate to respond directly to my direct communication for further discussions, sharing your thoughts, or arranging a meeting as you have been invited to do.
Thanks for your prompt reply Fabien but youāve not really answered my question.
That is, if you guarantee is still valid as you suggest, it certainly doesnāt have a time value on it anymore as you have breached the 31st march deadline. Telling us that you expect payment from Sherwood in 10/15 days is again immaterial should they fail to make these payments in time.
Hence I ask you again, what is the value of a full guarantee with a deadline for repayment if you are firstly unable to guarantee repayment unless all bond repayments have been made to you first in addition to the deadline, which you proposed, as having been breached already?
And further to that yes I do propose you organise another investor to clarify the above points and question Iāve put to you, in addition to providing further clarification as to when exactly you plan on making repayments, when these are due and when you will reasonably expect it them to materialiseā¦ without making any guarantees and promises that youāre clearly unable to meet.
Thanks for following up.
Apologies for our communication which seemed to be unclear on this point. Full redemptions arenāt dependent of full bonds repayment, that was the purpose of the loan indemnification letter.
I also followed up on our email thread.
Thanks Naji.
100% thanks Naji, it has been offered on my investors communication along with different paths forward (ABC, ā¦) if you wish to do so.
I also followed up on your direct message.
Thanks Naji.
Itās funny how the issuer can break the rules over and over again without any action taken against them. But when we, as investors, express our frustration and worry about our money being at huge risk, you want to take action against me. From my understanding, Mr. Fabien has once again failed to fulfill his promise on March 31. If only 1-5 assets were delayed, I could understand, but with 16 assets delayed, some of which are over 200 days overdue, you tell me to follow the rules and behave. If I canāt even get my money back, do you think I will care about being banned from the forum?This is the nicest i can be,sorry
Anyway, I just hope that this doesnāt affect Branch 3 assets. The first asset is due to mature in around two months from now, and if the issue can repay it on time or early, it will give Branch 3 investors huge confidence. If it doesnāt, it will be hard to trust that the issue is able to pay the rest of the 31 assets. Iām not trying to spread FUD here, just raising a concern
It makes me sad to see of how consistent Fabien is here to hide the mess but it seems he gets away with it.
Hey @hepp, you are certainly allowed to express your frustration and it is understandable. We want our forum to be a place for meaningful discussions, so we can improve as a protocol and DAO, and where people can express their opinions and concerns - all I/we ask is to keep the communication courteous.
Asking your questions in this thread is right way to do it and only the issuer can provide clarity and answers to them.
Hi Rhano, and hereās the thing. What did we learn out of it being the platform provider. Has there been done a kind of analysis ourselves if this situation was avoidable? Or do we think that this is āusual businessā?
Hi @PathrockNetwork, there is actually a proposal from a community member here that could clarify the questions you are asking.
Is there any update about the pool?
The pool is currently winding down, the process takes longer than expected due to active litigation.
1754S1 maintains direct communication with its investors and provides regular updates. Please prioritize email as the preferred method of contact.
This is the pool summary of 1754 Factory. To contact the issuer please prioritize sending an email as the preferred method of contact