Indemo’s Fifteen Flow Stage Updates
As part of our monthly portfolio updates, we are sharing the latest developments in legal proceedings across selected debts within the Indemo portfolio. This month’s update includes 17 total updates across the portfolio, counting 13 opportunities with legal Flow stage changes plus 4 opportunities completing Debt Purchase Registration.
These updates highlight key procedural movements and reinforce our ongoing commitment to transparency throughout the entire recovery lifecycle.
Quick Overview – Flow 2.0 Legal Process Matrix
🏡 J046 – House in Torrevieja
Previous Status: Claim Filing (Step 2)
Current Status: CARGO CERTIFICATE COLLECTION (Step 4)
What this means: The Court requests from the Property Registry a certificate that includes every lien on the property to make sure the mortgage exists and the amount that it covers.
🏡 J051 – House in Aznalcázar
Previous Status: Claim Filing (Step 2)
Current Status: CLAIM ACCEPTANCE (Step 3)
What this means: The court initiates the claim and begins its attempts to notify the debtor.
🏢 J063 – Apartment in Torrejón de Ardoz
Previous Status: Claim Filing (Step 2)
Current Status: CARGO CERTIFICATE COLLECTION (Step 4)
What this means: The Court requests from the Property Registry a certificate that includes every lien on the property to make sure the mortgage exists and the amount that it covers.
🏢 J067 – Apartment on Calle Guadalajara
Previous Status: Claim Filing (Step 2)
Current Status: CLAIM ACCEPTANCE (Step 3)
What this means: The court initiates the claim and begins its attempts to notify the debtor.
🏢 J069 – Apartments in Alicante and Almeria
Previous Status: Claim Acceptance (Step 3)
Current Status: DEBTOR PAYMENT NOTIFICATION (Step 5)
What this means: The debtor has been notified by the Court and has been requested to pay or file an opposition to the claim.
🏢 J076 – Apartment and Land in Madrid
Previous Status: Claim Filing (Step 2)
Current Status: CLAIM ACCEPTANCE (Step 3)
What this means: The court initiates the claim and begins its attempts to notify the debtor.
🏡 R018 – House at Carrer Serra
Previous Status: Claim Acceptance (Step 3)
Current Status: CARGO CERTIFICATE COLLECTION (Step 4)
What this means: The Court requests from the Property Registry a certificate that includes every lien on the property to make sure the mortgage exists and the amount that it covers.
🏡 R019 – House at Carrer Cingles
Previous Status: Auction Preparation (Step 10)
Current Status: AUCTION EDICT (Step 11)
What this means: The Court notifies the auction edict with all the necessary details that need to be known by the possible bidders.
🏡 R087 – House in St. Quirze Valles
Previous Status: Claim Filing (Step 2)
Current Status: DEBTOR PAYMENT NOTIFICATION (Step 5)
What this means: The debtor has been notified by the Court and has been requested to pay or file an opposition to the claim.
🏢 R102 – Apartment on Carrer de l'Harmonia
Previous Status: Debtor Payment Notification (Step 5)
Current Status: AUCTION PREPARATION (Step 10)
What this means: Creditor, debtor, or third party possessor ask the Court for the initiation of the auction.
🏡 R175 – House in Barcelona
Previous Status: Opposition Filing (Step 6)
Current Status: AUCTION PREPARATION (Step 10)
What this means: Creditor, debtor, or third party possessor ask the Court for the initiation of the auction.
🏡 R209 – House with Terrace in Sevilla
Previous Status: Debtor Payment Notification (Step 5)
Current Status: COURT DECISION ON OPPOSITION (Step 8)
What this means: The court makes a decision regarding the opposition and informs the parties accordingly.
🏠 R211 – Terraced House in Madrid
Previous Status: Claim Filing (Step 2)
Current Status: CARGO CERTIFICATE COLLECTION (Step 4)
What this means: The Court requests from the Property Registry a certificate that includes every lien on the property to make sure the mortgage exists and the amount that it covers.
Important Note on the Flow Stages
It is important to note that these Flow Updates reflect legal stage changes only, which represent just one of three potential exit scenarios available to our partners. While court-driven recoveries are a visible and structured pathway, many successful outcomes occur outside of formal legal progression, including out-of-court settlements or sale on the debt secondary market.
As such, an absence of visible legal movement should not be interpreted as inactivity. Discounted, mortgage-backed debts are a long-duration asset class, and significant value creation often happens behind the scenes through legal, servicing, and negotiation work that is not immediately reflected in stage changes.
Moreover, time frequently works in the creditor’s favor. As claims accrue default interest and recoverable costs, the creditor’s position typically strengthens, improving leverage in negotiations and supporting stronger outcomes at auction or through alternative exits.
Success in discounted debt investing is not measured by how frequently legal stages change, but by achieving a profitable and well-structured resolution. Strong outcomes are often driven by disciplined acquisition at the right discount and risk profile, and may result from alternative exit routes such as out-of-court settlements, secondary market transactions, or direct property sales rather than a linear court process.
Special Notice – Debt Purchase Registration Completed
Four opportunities have successfully cleared the Debt Purchase Registration interim step, an important procedural milestone for recently listed debts. This step often caused cases to appear stagnant, but now investors can see this interim stage in their Flow. Once cleared by the servicing company, the icon is removed, and the debt resumes its standard progression along the Flow, confirming that these positions are officially on the full recovery track.
The following opportunities have now completed this step:
🏡 R175 – House in Barcelona
Status: Debt Purchase Registration Completed.
🏢 R177 – House and Apartment in Barcelona
Status: Debt Purchase Registration Completed.
🏠 R184 – Terraced House in Alicante and Detached House in Madrid
Status: Debt Purchase Registration Completed.
🏠 R211 – Terraced House in Madrid
Status: Debt Purchase Registration Completed.
Stay Tuned!
We will continue to monitor all ongoing cases closely and provide regular monthly updates on their progress. Our commitment to transparency ensures that investors remain fully informed about each stage of the debt recovery process, from initial legal action through to final resolution.
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This content is a marketing communication. It shall not be treated as investment advice, independent research or offer, recommendation or invitation to invest in the investment opportunities referred to herein. The content is not aimed at promoting services or products to persons based in jurisdictions where the distribution of said information would be illegal.
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