{"investor_group_id":"1","date_received":"2025-12-20","question_original":"Upon enforcement, would bondholders become direct owners of the land, or would ownership pass through a local SPV or fiduciary structure?","internal_owner_id":"1","draft_answer":"Upon enforcement, the intention is that the pledged parcels will be transferred either (i) directly to the security agent or a dedicated enforcement SPV, to be realised for the benefit of bondholders, or (ii) directly to bondholders on a pro\u2011rata basis if a more efficient structure under Costa Rican law is confirmed. The final path will be recommended by local counsel so as to balance simplicity, speed of execution and tax efficiency for investors.","final_answer":"","status":"In progress","priority":"Medium","version":"V1 2025\u201112\u201122","update_date":"2025-12-23","linked_faq_id":"3","notes":"ok","updated_at":"2025-12-23 12:27:30"}