Successful recovery results in October

We’re pleased to share that in October we fully recovered 2 projects! Total amount recovered in October: 527 930,25 EUR. These results confirm that Profitus’s legal processes and investor-protection measures are effective, delivering tangible financial outcomes. Please find details for each project below:

Project “Tvenkinio namas”
In October, 96 949,83 EUR was successfully recovered and distributed to Investors. This was the final portion of the project’s debt, so the process has been completed in full. The project was secured by a first-rank mortgage, ensuring Investors’ interests were maximally protected throughout.

Project “Butas Svajonių g., Vilnius”
The developer breached the loan agreement by failing to register the mortgage within the specified term; therefore, the loan funds were not disbursed. In accordance with the loan agreement, Profitus applied to the court to recover the contractual three months’ interest due to Investors. The court ruled in favor of Profitus, and the total amount recovered was 32 980,42 EUR. Distribution of funds to Investors is planned for this week.

Project “Butas A. Mackevičiaus g., Kaunas”
During recovery, the borrower’s assets were realized, and the amount recovered totaled 380 000 EUR. This enabled full settlement with Investors who had invested with a first-rank mortgage pledge (306 164,05 EUR). For Investors with a second-rank mortgage pledge, the amount recovered was 73 835,95 EUR. For Investors secured with a second-rank mortgage, an uncovered balance of 3 303,69 EUR remains; recovery continues in line with debt-collection procedures.

Project “Nauji namai Baltuose”
In October, an additional 18 000 EUR was recovered, on top of the 186 000 EUR recovered at the end of September. The total amount recovered in this project currently stands at 466 976 EUR. The remaining debt is 78 744,19 EUR, with recovery continuing under bankruptcy proceedings.