Ar užsiroviau ant pirmos griūnančios platformos?

Categories Investicijos

Prieš daugiau nei 4 metus pradėjau investuoti Reinvest24 platformoje. Mane sudomino platformos konceptas – investuok į nuomojamą nekilnojamą turtą ir uždirbk tiek nuomos, tiek kapitalo prieaugio pajamas.

Praėjus keturiems metams, esu patenkintas platformos rezultatais, bet atsirado trys red flag’ai.

Red flag 1 – ECSP

Bendrovė kolkas negavo ECSP licencijos (ar bent jau apie tai nepaskelbė). Prieš kelias savaites pasiteiravau apie tai įmonės vadovo Tanel Orro ir jis atsakė, kad informacija šia tema yra ruošiama ir ja bus pasidalinta artimiausiu metu. Nuo to laiko jokie pranešimai manęs nepasiekė, tad įtariu, kad platforma licencijos negavo ir naujų paskolų teikimas gali būti apribotas. Nepaisant to, platformoje ir toliau finansuojami projektai Ispanijoje, Latvijoje ir Estijoje.

Red flag 2 – vėluojantys withdrawal’ai

Vokiečių P2P forume investuotojai dalinasi istorijomis, kad pinigų išmokėjimo tenka laukti 2-3 savaites. Tai reiškia, kad investuotojų lėšos galimai nėra atskirtos nuo platformos operacinių lėšų ir platforma susiduria su pinigų srauto sunkumais.

Vienas pinigų išsimokėjimas platformoje kainuoja 2 eurus, tad tikėčiausi, kad jis bus momentinis. 🙂

Red flag 3 – akcininkų ginčas

Reinvest24 įkūrėjai dalyvauja teisme dėl galimai daugiau nei 4M Eur Reinvest24 nevykdomų įsipareigojimų.

Kirsan pranešimas:

Dear Investors!

We refrained from making any comments regarding the situation that has arisen between the Kirsan Group and Reinvest24 companies.
Transparency in relationships is an effective way to ensure successful entrepreneurship, a principle that has been demonstrated through decades of Kirsan Group’s operations.

We believe that open communication and trust are fundamental to our ongoing partnerships with you, our valued investors.

Kirsan Group initiated a partnership with Reinvest24 in 2021, which has been marked by significant activity (https://web.archive.org/web/20220626133542/https://www.reinvest24.com/en/statistics) on the platform.

During our collaboration, several financing agreements were reached between Reinvest24 and the Kirsan Group for construction projects. These agreements were designed to be more favorable for Reinvest24. Despite some instances where Reinvest24 did not fulfill its commitments under these agreements, the Kirsan Group has made every effort to honor its own obligations.

The Belgrad, Ion Nistor, Train, and Albisoara projects were covered by financing agreements totaling 5,326,000 euros. We are delighted to inform you that we have successfully obtained loans amounting to 2,164,000 euros. Furthermore, we are pleased to report that the principal loan amount of 2,164,000 euros has been completely repaid. In addition, we have fulfilled our financial obligations by paying commissions to Reinvest24, totaling 74,823 euros, as well as interest on the loans amounting to 254,544 euros. Closed projects (https://www.reinvest24.com/en/browse/exited)

The Green Park – Titulescu, My Life, Metropolis 4A, Metropolis – 4D, Metropolis – Apart Hotel, and Ciocîrlia projects had financing agreements in the total amount of 7,720,000 euros. We received loans amounting to 4,984,150 euros, repaid the principal loan amount of 724,150 euros, and also paid advertising commissions of 45,000 euros, Reinvest24 commissions of 210,050 euros, and loan interest of 830,910 euros.

However, for reasons that are unclear to us, in the second half of 2022, Reinvest24 ceased financing our projects under the agreements, despite being obligated to fund our projects according to the contracts, by an additional 2,735,850 euros. This has resulted in a 33% financial loss for our company.

The failure to fulfill financing commitments, along with the ongoing war in our neighboring country, Ukraine, has significantly impacted the financial situation regarding the implementation of our projects. Despite the complexity of the situation, the management of our companies has found a way to continue construction and plans to fully reimburse investors once the construction is completed.

We intend to keep you informed about the progress of our construction projects and the development of our relationship with Reinvest24, both in Moldovan projects and in projects in other countries.

Important Update for Our Investors

Dear valued investors, We strive for responsible business conduct, especially in challenging situations. It is crucial for us to share information regarding the relationship between the Kirsan Group of Companies and the Reinvest24 Group of Companies.

Kirsan Security Agent Ou on behalf of the companies within the Kirsan Group, who are co-founders of the main entity of Reinvest24, developers of Reinvest24 projects, loan recipients, as well as intermediaries in dispute resolution, we have made numerous attempts to communicate with REINVEST24. We have done so with the hope of fostering constructive dialogue and collaboration. Unfortunately, all our communications, including those made on behalf of co-founders, have been ignored by REINVEST24.

We understand that timely returns on investments are of utmost importance to you as investors. However, we regret to inform you that the Reinvest24 Group is in debt to Kirsan Group companies in excess of 4 million euros. This amount includes:
Financial Strain: Significant Indebtedness
Debt related to Moldovan projects associated with Reinvest24 OU, amounting to 2,408,549 euros.
Debts related to Reinvest24 projects in Latvia – 213,934 euros.
Debt related to Reinvest24 projects in Germany – 96,132 euros and failure to meet obligations amounting to 226,005 euros.
Debt related to Reinvest24 projects in Spain – 1,072,716 euros.
Debts related to Reinvest24 projects in Switzerland – 41,645 Swiss francs.
Due to these financial obligations, construction activities have been temporarily suspended until REINVEST24’s debts are settled. If a resolution is not reached promptly, the Kirsan Group may be compelled to seek legal recourse to protect their rights and recover debts.

We are exerting every effort to resolve this situation and safeguard your interests as our partners. We understand the concerns this may raise and are committed to finding the optimal solution. Your trust is our top priority, and we are doing everything possible to support you during this challenging period. We appreciate your understanding.

Thank you for your patience and continued support.

Reinvest24 atsakymas:

Dear Community,

Thank You for being patient and giving us some time to address all your questions in a proper way.

When it comes to the message from Kirsan security, which was shared recently in our telegram chat and which is allegedly a representative of ‘all Kirsan companies’.
This is a manipulation (probably from Kirsan side) to get investors turn against Reinvest24.

As you know, Reinvest24 is taking legal action against companies that Kirsan sent into debt restructuring (which we’ll share more information about in upcoming days). The debt restructuring process is usually a pre-bankruptcy process, where debtor tries to renegotiate the terms of the debts it owns to the creditors. The interest calculation is stopped (same as in bankruptcy process) and all financial decisions are done by the Administrator. Legally this means that the management of the company is taken over by Administrator assigned by the court and the restructuring plan has to be approved by vote of all creditors. In this case, the Administrator made a decision, that despite the fact, that investors represented by Reinvest24 are the largest creditor, it doesn’t have a right to vote on the debt restructuring plan approval.
In short, the debt restructuring plan offers to remove mortgages from collaterals, sell the apartments and pay back the debt in parts in 3 years, starting from 2024. This seemed totally OK for the Administrator and the Judge of the first instance.

Our legal team identified a big risk of Kirsan companies not paying the confirmed by the court amounts back or even going into the bankruptcy after all assets are freed from mortgage and sold – we appealed those decisions made on approval of the debt restructuring plan and currently they are waiting on being reviewed by the Appeal court.

As you know, in most countries, the SPVs were managed by people related to Kirsan construction companies (Latvia, Spain, Switzerland, Germany, Moldova). Now Kirsan security is probably ‘generating’ debts owned to Kirsan companies. We are not aware of such debts, nor were they confirmed in any way.

Also, the amounts mentioned in ‘success cases’ do not match the actual amounts of the amounts paid out and returned.

Moldova is not an EU country, but it wants to become a member of EU. One of the main requirements for the country applying for EU membership is a functioning court system. Currently, the EU funds reforms in Moldova courts in substantial amounts to get them to the acceptable by EU level of bribery and corruption.

Reinvest24 is committed to protecting its investors investments and needs your support in this process.

Victoria,
CMO at Reinvest24

Shady stuff. Platformoje iš esmės investavau daugiau į estiškus projektus, kiekvienam jų įkurtas atskiras SPV, tad teoriškai viskas turėtų būti gerai. Kaip bebūtų, renkuosi daiktus ir stengiuosi valdyti riziką, kol ne vėlu. Jei pinigų išmokėjimas vėluoja kelias savaites šiuo metu, platformos pardavimams krentant dėl ECSP ir prasileidus 4M ieškinį, gali būti, kad kelių savaičių laukimas atrodys kaip pozityvus scenarijus.

Per mano rekomendacijos nuorodą platformoje užsiregistravo keliolika žmonių, tad rekomenduoju apsvarstyti ar ir toliau norite naudotis šią platforma. Jei norite – šiuo metu yra puikių deal’ų antrinėje rinkoje. Jei ne – galbūt geras metas pasitraukti.


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