Maclear / Investing / Provision Fund / Has there ever been a default on Maclear? The Vibroedil case explained

Has there ever been a default on Maclear? The Vibroedil case explained

2026/06/03

3分

In July 2025, Vibroedil S.R.L. — a Maclear-financed company operating in Italy — entered bankruptcy proceedings. This was the first and only default in Maclear's history. Every investor who participated in the project received 100% of their principal back. The Provision Fund was not used. The case was resolved through a private settlement agreement.

How the situation unfolded

The Vibroedil project was funded on Maclear in three stages, each of €50,000, for a total of €150,000. The loan was collateralised, providing a baseline of protection from the outset.

In July 2025, Vibroedil S.R.L. entered bankruptcy proceedings in Italy. The company continued making interest payments to investors for several weeks after bankruptcy was confirmed. Maclear's policy is to communicate with investors only after confirming the borrower's legal status — updates were issued once the situation was verified, not based on early speculation.

Resolution: settlement over bankruptcy proceedings

Rather than following the standard path of registering as a creditor in Italian bankruptcy proceedings — a process that can take years and often results in partial recoveries — Maclear's risk and legal team entered direct negotiations with Vibroedil's representatives.

A private repayment agreement was reached. This approach allowed the borrower to complete repayments within a controlled timeframe, without the drawn-out uncertainty of formal insolvency proceedings. The result was a faster, full recovery for investors.

Outcome for investors

  • 100% of principal returned to all participating investors

  • Provision Fund not activated

  • Case closed without investor losses

What Maclear changed after Vibroedil

The case led to several internal process improvements:

  • Investor updates are now issued immediately upon confirmation of major financial or legal events

  • Internal creditor claim procedures were refined for situations involving collateral

  • Borrower financial forecasts now include explicit context and disclaimers

Did investors lose any money in the Vibroedil case?

No. All investors who participated in the Vibroedil project received 100% of their principal back. The case was resolved through a private settlement agreement. The Provision Fund was not used.

Why did Maclear choose a settlement instead of pursuing the bankruptcy claim?

In standard bankruptcy proceedings, creditors often wait years for partial recovery, if any. By entering direct negotiations with Vibroedil's representatives, Maclear was able to secure full principal repayment faster and without the risk of a drawn-out, uncertain legal process. The decision followed Maclear's operational principle of pursuing practical recovery over procedural formality when the outcome for investors is better.

Has Maclear had any other defaults or cases of significant payment disruption?

No. As of the time of publication, Vibroedil is the only default case in Maclear's history. All other funded projects have met their scheduled payment obligations. The Provision Fund has not been activated to date.

What does the Vibroedil case tell us about Maclear's risk framework?

It demonstrated that the framework functions as designed: collateralised loans, active borrower engagement, and a pragmatic recovery strategy allowed investor capital to be protected even in a bankruptcy scenario. It also identified areas for improvement — investor communication speed and creditor claim processes — which have since been updated.


Risk disclosure: Crowdlending involves risk, including the possible loss of capital. Past performance is not a guarantee of future returns. Invest only what you can afford to lose.

Regulatory disclosure: Maclear AG, registered in Switzerland, member of PolyReg SRO, a self-regulatory organization supervised by FINMA.


関連記事

What happens if multiple Maclear borrowers default at the same time?

If multiple Maclear borrowers default at once, the recovery framework runs in parallel for each project — legal action, collateral enforcement, and Provision Fund cover for interest. There is no cross-project pooling of losses; investors in non-defaulting projects are unaffected. The fund covers interest while reserves are sufficient; principal recovery relies on collateral.

Are Maclear investors protected if a borrower defaults on payments?

If a Maclear borrower defaults, a multi-layer framework activates: collateral and guarantees are enforced by Maclear as Collateral Agent, the Provision Fund covers investor interest from day 3, and the Claim Assignment Agreement allows Maclear to act collectively for all investors from day 60. Protection significantly reduces capital-loss risk but cannot guarantee full recovery.

What happens when a Maclear borrower delays payments: step-by-step response

When a Maclear borrower misses a payment, a four-step response activates. Day 3: the Provision Fund covers investor interest with no schedule interruption. Day 30: soft debt collection begins. Day 60: legal proceedings and collateral enforcement start, with Maclear acting as Collateral Agent and Collection Agent under each investor's Claim Assignment Agreement.

How does Maclear protect investor money: financial security measures explained

Maclear's investor protection runs four layers: borrower due diligence with risk scoring; collateral and guarantees on every funded loan, with Maclear as Collateral Agent; the Provision Fund covering investor interest during delays from day 3; and active monitoring with escalation at 3, 30, and 60 days. Protection reduces but cannot eliminate the risk of capital loss.