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MTN Funding PLC Bondholders Demand Action Following Default

Rezul News/10691270
Investors in bonds issued by MTN Funding PLC (ISIN: 5JGGB00BNDWV003) are demanding immediate action after the company defaulted on its obligations. The bonds matured on December 31, 2024, but both principal and interest payments remain unpaid.

LONDON - Rezul -- Concerns arise from the lack of transparency surrounding the underlying collateral, which was reportedly a promissory note issued by a Delaware entity owned by Mr. David Nepo. The absence of a security agreement raises serious questions about investor protection.

Multiple entities involved in the bond issuance have failed to adequately address investor concerns:

1.       MTN Funding PLC: The issuer has defaulted on its obligations and provided no explanation or timeline for repayment. Contact: contact@mtn-funding.com
  1. Truva Services Limited: The Trustee has not effectively enforced bondholder rights or maintained adequate records of the collateral. Involved in oversight of the Delaware entity, Truva has not clarified its role in managing investor risks. Contact: info@truvacorp.com
  2. Avenir Registrars: As the registrar, Avenir has not clarified the relationship between bondholders and the nominal holder, Euroclear Nominees Limited, nor provided transparent ownership records. Contact: info@avenir-registrars.co.uk  
  3. Bedford Row Capital: The arranger has not addressed investor concerns regarding the due diligence performed on the underlying collateral.

5.       Keystone Law Limited: Keystone Law, acting as a legal advisor, has not provided sufficient transparency regarding the bond's underlying agreements, further delaying investor resolution. Contacts: Martin Brown (martin.brown@keystonelaw.co.uk), David Bennett (david.bennett@keystonelaw.co.uk)
  1. Hiller Hopkins LLP: As the auditor for MTN Funding PLC, Hiller Hopkins has not clarified the financial standing of the issuer or the accuracy of its financial records. Contacts: Jonathan Franks (jonathan.franks@hhllp.co.uk), Michael Jacoby (michael.jacoby@hhllp.co.uk)
  2. David Nepo: Mr. Nepo has previously been sued by the United States Securities and Exchange Commission and has been accused of assaulting an elderly man in Florida. Contact: Nepo@iig.com

Bondholders are demanding:
  • Immediate payment of all outstanding principal and interest.
  • Full disclosure of the underlying collateral, including the terms and enforceability of the promissory note.
  • Confirmation of the Trustee's actions to enforce bondholder rights.
  • An urgent meeting of bondholders to discuss the situation and coordinate next steps.
Investors are urging other bondholders to unite and demand accountability. "This lack of transparency and inaction is unacceptable," stated a spokesperson for the bondholders. "We will explore all available options to protect our investments, including:

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1.       Filing complaints with regulatory authorities such as the FCA, EuroNext, and Borse Frankfurt.
  1. Pursuing legal action against MTN Funding PLC and its associates.
  2. Informing credit rating agencies and media outlets.
Any investor in MTN Funding PLC who feels that they have been defrauded is urged to contact us immediately.
Contact Information for Affected Investors:

MTN Funding PLC Defrauded Investors
MTNFunding@gmail.com

Contact
MTN Funding PLC Defrauded Investors
***@gmail.com


Source: MTN Funding PLC Investors

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