Search:     Go  
The Spanish Lawyer Online
The Spanish Lawyer Online

Spanish Law Tribune

Keeping up-to-date with Spanish Law
Home > Litigation > Aifos’ Second Forced Administration Procedure Accepted

Aifos’ Second Forced Administration Procedure Accepted

January 21st, 2009

Mercantile Judge number one of Málaga has accepted the second proposal (http://www NULL.marbella-lawyers NULL.com/wordpress/aifos-faces-its-second-forced-administration-procedure) for a forced administration procedure for the developer Aifos, as stated by Diario Sur (http://www NULL.diariosur NULL.es/20090119/local/marbellaestepona/admitido-tramite-concurso-acreedores-200901191922 NULL.html).

In a resolution from 8th of January the magistrate considers that Aifos now meets the necessary criteria to be declared under administration. Formerly the first forced administration proposal was rejected because the magistrate was of the opinion that its insolvency had not been substantiated enough in the petition. This second proposal has proved satisfactorily that Aifos owes, at least, 7.9 million Euros to different creditors.

Aifos will now be given a formal opportunity to object to the forced administration procedure proposed by one of its numerous creditors.

Litigation , , , , , , ,

  1. No comments yet.