In July 2025, one of Maclear’s financed companies — Vibroedil S.R.L. — entered bankruptcy proceedings in Italy.
This was the first default case in our platform’s history. Yet, despite the legal and financial turbulence, every investor who participated in funding Vibroedil’s project received back 100% of their principal. Importantly, no funds were taken from the Provision Fund.
This outcome was the result of Maclear’s structured approach to risk, active borrower communication, and disciplined recovery strategy.
How the situation unfolded
The Vibroedil project had been financed on Maclear in three stages, each of €50,000, totaling €150,000. The loan was secured by solid collateral, providing strong protection from the start.
To illustrate how such situations are managed:
A company in Spain, for example, takes a €50,000 loan to purchase equipment, providing real estate and a personal guarantee from the owner as collateral. Before approval, the application undergoes financial and legal review by Maclear, including assessment of financial statements, debt load, and asset documentation.
A few months later, the business loses a major client, and revenue begins to decline. If a payment is missed, Maclear immediately contacts the borrower to understand the cause and try to resolve the issue amicably.
If repayment is delayed beyond 30 days, soft collection begins — a gentle recovery process. At this stage, the Provision Fund temporarily covers interest payments, so investors experience no delay in returns.
If the debt remains unpaid after 60 days, the case moves to legal recovery: assets are seized, collateral is sold, and proceeds are used to return principal to investors. In most cases, investors recover 100% of the principal, though accrued interest during the delay may not be included.
When Vibroedil entered bankruptcy, the situation followed a similar path. The company continued making interest payments for several weeks. Maclear chose to communicate with investors only after confirming the borrower’s legal status — a decision rooted in our internal policy that prioritizes accuracy over speculation.
Communication and recovery
Throughout the process, the Maclear team maintained transparent communication with both the borrower and investors.
- Updates were issued after each repayment stage.
- The support team personally addressed investor questions.
- Once financial distress was confirmed, our risk and legal teams initiated direct negotiations with Vibroedil’s representatives.
Instead of pursuing a lengthy and uncertain bankruptcy claim, Maclear reached a private repayment agreement. This approach allowed Vibroedil to complete its repayments within a controlled timeframe, without the need for taking funds from the Provision Fund.
This decision followed our core operational logic:
- Recover what can be recovered efficiently;
- Maintain repayment continuity;
- Avoid unnecessary legal delays when cooperation is possible.
The result: investors received their full principal amounts, and the case was closed without losses.
Why the settlement was the smarter choice
In traditional bankruptcy proceedings, creditors often wait years for partial recoveries, if any. By acting directly and pragmatically, Maclear avoided that risk and ensured investors were repaid faster and in full.
This outcome reinforced one of Maclear’s guiding principles: we focus on practical solutions that protect investor capital and maintain trust, even in challenging circumstances.
What Maclear learned
Every default, even a successful one, is a learning opportunity.
Following the Vibroedil case, we implemented several internal improvements:
- Faster investor communication: updates are now issued immediately after confirmation of major financial or legal events.
- Clearer creditor procedures: internal processes for registering creditor claims were refined when collateral is involved.
- Greater forecast transparency: borrower forecasts now include explicit context and disclaimers.
Protection mechanisms in action
Maclear’s layered protection model proved its effectiveness in this case.
It includes:
- Collateralized loans — every project is backed by tangible assets.
- The Provision Fund — used to cover repayment delays when necessary.
- Rigorous screening — each borrower undergoes detailed financial and legal assessment before approval.
Thanks to these mechanisms, even the first default in our history resulted in zero investor losses.
A realistic perspective on risk
While Maclear’s multi-layer protection greatly reduces risk, defaults can still happen. Business environments change, markets shift, and not every borrower can anticipate those challenges.
What matters is how a platform responds — and in Vibroedil’s case, Maclear’s swift, structured response ensured investors remained protected.
Pro tips for investors
Even with robust platform protection, investors play a crucial role in managing their own portfolio risk.
Here’s how to stay resilient:
- Diversify. Spread your investments across multiple projects rather than concentrating on one borrower. It’s the single most effective way to reduce potential losses.
- Check risk grades. Higher returns usually mean higher risk — balance your portfolio between safer (A–B) and mid-risk (C–D) loans.
- Stay informed. Review borrower details, loan purposes, and platform updates to make data-driven decisions.
- Think long-term. Temporary fluctuations or isolated defaults don’t define portfolio performance, consistency does.
Final thoughts
The Vibroedil case was a milestone moment for Maclear — a real-life test of our risk management philosophy. It proved that with solid collateral, responsible communication, and proactive recovery strategies, investor capital can remain safe even in the face of bankruptcy.
While we can’t eliminate risk entirely, we can turn challenges into stronger protection for our investors.
