Project update

Terrassa IN project

Please be advised that Inveslar is presently encountering technical difficulties that are impeding the updating of project payment data. Subsequent to the discovery of this issue, our team has awaited a resolution by Inveslar. Regrettably, as the issue persists unresolved, official legal notice and claim were issued to Inveslar by our legal representatives earlier this week. We are currently engaged in legal proceedings aimed at expediting the resolution of the aforementioned technical issue. Rest assured, we will provide updates on the progress of this matter in due course.

Update from the originator:

The originator is waiting for news on the development of this project. As soon as the originator has news, the news will be shared with investors.

Update from the originator: The originator is stating that they are still waiting on the auctioneers in order for the process to continue. As soon as there is news, the originator will inform investors.

Update from the originator: The originator is involved in the process but the judge has not yet ruled anything. As soon as the originator has additional information another update will be posted.

Update from the originator:

Next week the originator will appear with a lawyer and solicitor to see exactly at what point the process of the project is.

Another update should be posted soon.

The originator is stating that there will be an update next week for this project.

Update from the originator:

The court hearing is supposed to be on the 24th of January. The borrower has proposed another option where they would offer another property in Badia that would repay this current debt but the originator did not accept this offer. The originator also has the option to open a new case with the borrower as there is a contract in place where the borrower has a personal guarantee for this investment.

The originator will update investors as soon as they have news.

Update from the originator:

The borrower is still waiting for the court resolution. The official who handles the case says that the delay is because the clerk of that court has been changed three times. 

The document has been added to the documents section.

Update from the originator:

All the paperwork was done at the court in September in order to initiate the process of putting the property in the originator's name.

The originator estimates it will take 2-3 months to receive the docs to proceed to do that.