Actions Against Lend East

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Dear Community,

This communication serves as a notification that the Goldfinch Foundation has formally issued another Notice of Default and Demand for Repayment to Lend East and Mr. Karan Bhatia.

The ongoing and unremedied defaults by Lend East and Mr. Karan Bhatia has escalated to a critical threshold. As a result, the Goldfinch Foundation is prepared to exercise all rights and remedies available under the applicable agreements and laws to protect the interests of Senior Pool members and Backers.

Let there be no ambiguity: Lend East’s ongoing failure to meet its obligations has left the Goldfinch Foundation with no alternative but to pursue remedial legal action. We are fully committed to utilizing every legal and contractual avenue at our disposal to recover the significant amounts owed by Lend East and Mr. Karan Bhatia.

​​We will pursue these remedies against Lend East and and Mr. Karan Bhatia (and any future defaulted borrower and their respective officers and directors, where applicable) with the utmost rigor, and our available measures include, but are not limited to:

  • Seizing and taking control of any and all collateral securing the loan, without further notice;
  • Appointing a receiver to assume full control of the borrower’s assets and operations;
  • Engaging an advisor or Chief Restructuring Officer to oversee the borrower’s financial recovery;
  • Freezing and seizing all borrower bank accounts to secure the Stakeholders’ claims;
  • Obtaining court orders to seize or attach non-collateral assets, both domestic and international;
  • Publicly disclosing the default to all relevant creditors, suppliers, and the general public, imposing severe financial and reputational consequences on the borrower;
  • Initiating litigation in any appropriate U.S. or international jurisdiction against the borrower, including its officers and directors, to recover outstanding debts and enforce personal liability.

Unless an immediate and satisfactory amendment or forbearance agreement is executed between Lend East and the Goldfinch Foundation, we will proceed with these actions against Lend East and Mr. Karan Bhatia without delay.

Be assured that we are fully prepared to take all necessary actions to ensure the swift and complete recovery of all outstanding obligations.

Goldfinch Foundation

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