Regarding the legal actions in protection of the interests of the investors in loans of the Georgian company BBG, last we informed you that the court ruled a “judgement by default” in iuvo’s favor. It had to be served to BBG in order to become effective. As of now, the ruling is served and we can start the procedure to satisfy our claims with the seized assets of the Georgian company and the repayment of their debt. The steps in this direction are already taken and the procedure for cashing out the seized assets of BBG in Georgia is about to start.
As you know, in 2021 iuvo won the lawsuit to impose precautionary measures on the movable assets /MOVH/ of BBG in Georgia and the company was prohibited from managing its available assets. We continue to inform you about the progress of the case and the results from the taken legal actions by us for the repayment of the debt of the company to the investors and the platform.