Defaults

• Munkhbaatar

  Was in our office on 23rd dec. Met with E. Officer and Mandakh. Suggestion for him to transfer the proeprty and give him 6 months
  
  Pros and cons of property transfer
  
  Advantages
  - It  seems on paper, we could get an agreement now, and therefore have no more delays, i.e. no more court cases etc
  
  Disadvantages
  On the structure:
  - Holding property as security for financing arrangements is not legal. It could be disputed.
  - If it is disputed, and a court rules its not legal, the collateral will be transfered back to munkhbaatar, then we are at risk of losing the collateral
  - If he disputes it, it could take more years in court
  
  Eviction:
  - If  he doesnt pay within 6 months, we still have to evict, and he can dispute at court = more years in court
  
  Summary
  - We are at the end of the enforcement process now. I assume he has no ability to continue to dispute it in court. Therefore the enforcement office can finish this case in 2-3 months
  - If munkhbaatar wanted to make a special arrangement, he should have done it within the first year of this process, not within the last 2-3 months
  - The goal is to resolve this 1) safely 2) as soon as possible. 
  - For the record, I have NO sympathy for Munkhbaatar, he has already had approximately 40 months and it is still not resolved. He is delaying because its interest free, if there was interest, even at a reduced rate, he would have already found a way to pay.

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  аар Oliver Thirlwall - 03:32 - 13 12-р сар 2021

• Tsetsgee

  She has filed a court case because the valuation of the final auction was in 2019, the valuation was more than 6 months. So this can go round and round forever. We need to get the buyer to complain and demand the property be transferred to him. And we need to get more of our money

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  аар Oliver Thirlwall - 03:30 - 13 12-р сар 2021