Q: I have bonds USU77587AA83 $200K stake and $59K unpaid interest. In 2016 may, the company had defaulted on coupon payment. is it maybe possible to somehow collect the debt? A: you may file an accountancy case against the company in order to get the real financial situation of the company…

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Claiming the bonds stake value and unpaid interest from a company

Hello!

My name is Denis.

Can you help with debt issue?

There is a company in India. I have bonds $200K stake and $59K unpaid interest. In 2016 may, the company had defaulted on coupon payment.

I was reaching the Trustee for this issue, and they told me that I need to have a minimum of 25% of this issue to make any legal action.

So, they suggested me to join the group of bondholders, and now, I joined the group to negotiate the debt restructuring.

The company hired an advisor. In February 2018, the company and group of bondholders signed RSA agreement and approved restructuring plan.

But in April 2018, this RSA was terminated because the company fouled this agreement and did not transfer money (approx. $20 mill) to escrow account till 20 April. Today is total silence.

In prospectus the company have a branch in the UAE, is it may be possible to somehow collect the debt?

Thank you for your help.

Aws M. Younis

AWS Legal Consultancy

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5 Jul 2018, 18:47

I hope you are doing well.

With regard to your question, I believe we need to meet and discuss this matter face to face and to review the available documents and facts.

Usually, you may file an accountancy case against the company in order to get the real financial situation of the company, and accordingly, either you would file a criminal case if the accountant report reveals a fraud or breach of trust actions or you may file a civil case and obtain your rights.

Please, if you feel it would be better to discuss further the matter then do not hesitate to contact me directly on my mobile number 0559230221.

Best regards

Aws M Younis

5 Jul 2018, 18:55

Thanks, for your response!

Unfortunately, I am in Russia, Moscow. I can come to the UAE if it will be needed for the case.

I can provide any details you need by email, or conference by Skype, but my English is not that good.

Thanks a lot.

Denis

5 Jul 2018, 18:59

Dear Denis,

Unfortunately, my russian colleagues Ms Anastasia and Ms Nargiza both are outside the country, but you may send me the trade license and the proof of your AED 200,000 plus the interest.

In addition, you can send a copy of RSA Agreement and any further details that you feel it is important and relevant to the matter.

Best Regards

Aws

5 Jul 2018, 19:04

Yes, for sure.

Can you give me your email address?

My amount is 200 000 US dollars, and 59000 US dollars unpaid interest

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