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Martinsa Fadesa

Martinsa Fadesa

Old Nov 17th 2014, 3:07 pm
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Default Martinsa Fadesa

I have just seen this news about MF

Martinsa Fadesa Tackles 37% of Its Debt | Aura Real Estate Experts
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Old Nov 18th 2014, 8:48 am
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Default Re: Martinsa Fadesa

Originally Posted by guesswork View Post
However, the real estate firm reminds it is not bound to go bankrupt thanks to the latest law passed by the Government, stating that property managing companies whose difficult situation derives from their asset depreciation are exempt from forced insolvency proceedings. - See more at: Martinsa Fadesa Tackles 37% of Its Debt | Aura Real Estate Experts


Saved by the bell!.. and perhaps hedging their bets for the next payment perhaps???

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Old Nov 19th 2014, 8:57 am
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Default Re: Martinsa Fadesa

Originally Posted by Jon-Bxl View Post
However, the real estate firm reminds it is not bound to go bankrupt thanks to the latest law passed by the Government, stating that property managing companies whose difficult situation derives from their asset depreciation are exempt from forced insolvency proceedings. - See more at: Martinsa Fadesa Tackles 37% of Its Debt | Aura Real Estate Experts


Saved by the bell!.. and perhaps hedging their bets for the next payment perhaps???

Jon
Is this good news or bad news for CE?

Rumour has it that there are investors/developers waiting in the background for MF to go formally bankrupt so that they can pick up the assets at fire-sale prices and without the debt burden and then develop the Hotel(s) and Golf Course. MF and the administrators obviously would be holding out for the best price and to sell off their debts whereas the banks/creditors will just want the best they can get.
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Old Nov 19th 2014, 9:48 am
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Default Re: Martinsa Fadesa

Originally Posted by MikeJ View Post
Is this good news or bad news for CE?

Rumour has it that there are investors/developers waiting in the background for MF to go formally bankrupt so that they can pick up the assets at fire-sale prices and without the debt burden and then develop the Hotel(s) and Golf Course. MF and the administrators obviously would be holding out for the best price and to sell off their debts whereas the banks/creditors will just want the best they can get.
Good question: Part of me says get rid of 'em and 'better the devil you don't know' ......

The other part says beware asset strippers..... they would only go for financial gain... but we would need to consider the status of the potential buyers.

But then again, maybe e.g a good/healthy/reputed golf business would snap up the GC x 2 and ensure years of quality service. Currently I don't see any cast-iron guarantees. Which is why a quarterly golf membership payment is good. I would never pay the 1year social membership... and if I even wanted to be a social member I personally would pay the 'extra' 10eur a year and go quarterly.

I don't think anyone would snap up the hotel for a song and not then finish the project, but that doesn't necessarily mean it would be 4 star.. but I wouldn't mind a decent 3star either.

Not sure about the big CC - but who would buy that? Unless they got permission to change it for 'something else' .. that could be bad news... or perhaps better than what it is now ( a total mess that should be bulldozed)

Of course this is just looking solely at CE, MF have a lot of employees that could have their lives ruined if they failed fully. Perhaps one of the reasons why the government is holding their heads above water.

Oh for a crystal balls! But for CE - without having ANY knowledge of the market, and maybe its emotion talking but I would say 55/45 positive... just to chuck a number out there. Only because its hard to envision a worst set-up than e.g the current skeletal (and useless) buildings in CE.

Jon

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Old Nov 25th 2014, 5:04 pm
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Default Re: Martinsa Fadesa

More News

Not so much Saved by the Bell More like for Whom the Bell Tolls

Martinsa's One Foot In Liquidation | Aura Real Estate Experts
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Old Dec 18th 2014, 9:35 am
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Default Re: Martinsa Fadesa

The latest news
http://www.auraree.com/real-estate-n...idation-looms/
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Old Dec 19th 2014, 1:39 pm
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Smile Re: Martinsa Fadesa

MF is like an old dog whose time has come it should be put out of its pain then we can all get on with our lives for better or worse. Martins himself has been trousering a fortune throughout this whole sorry saga and he will be alright whatever happens. Meanwhile CE has deteriorated from the day MF went into liquidation the first time around MF have not spent a penny on Esuri. They even tried to get out of the bank guarantees for as long as possible. Which has all resulted in EUC carrying all the costs with no financial help from the town hall despite many hundreds of thousands being payed by ESURI residents in IBI payments so if they go------- will it be any worse?
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Old Dec 20th 2014, 8:11 am
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Default Re: Martinsa Fadesa

Originally Posted by EsuriJohn View Post
MF is like an old dog whose time has come it should be put out of its pain then we can all get on with our lives for better or worse. Martins himself has been trousering a fortune throughout this whole sorry saga and he will be alright whatever happens. Meanwhile CE has deteriorated from the day MF went into liquidation the first time around MF have not spent a penny on Esuri. They even tried to get out of the bank guarantees for as long as possible. Which has all resulted in EUC carrying all the costs with no financial help from the town hall despite many hundreds of thousands being payed by ESURI residents in IBI payments so if they go------- will it be any worse?
Well, maybe it will. If the EUC class action is successful (see another thread) then CE will no longer get the current levels of maintenance and will deteriorate further (as will property values). For evidence look at the number of part completed developments which have fallen into disrepair across Spain/Portugal, have not had no EUC or similar, and now have unsellable properties. Of course, the council will continue to provide the basic services but who will provide the gardeners, irrigation, clear-up services etc etc? But hey! A few people will be a few euros per year better off!
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Old Dec 20th 2014, 9:20 am
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Smile Re: Martinsa Fadesa

Originally Posted by MikeJ View Post
Well, maybe it will. If the EUC class action is successful (see another thread) then CE will no longer get the current levels of maintenance and will deteriorate further (as will property values). For evidence look at the number of part completed developments which have fallen into disrepair across Spain/Portugal, have not had no EUC or similar, and now have unsellable properties. Of course, the council will continue to provide the basic services but who will provide the gardeners, irrigation, clear-up services etc etc? But hey! A few people will be a few euros per year better off!
The EUC class action will not affect or be effected by any change in the MF status. Yes if they are successful it may reduce the ongoing daily maintenance however I firmly believe that the Ayuntamiento have obligations which they are not fulfilling to Esuri but they still take the money which in our case is about SIX times the cost of the EUC charge for what?
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Old Dec 20th 2014, 1:30 pm
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Default Re: Martinsa Fadesa

Originally Posted by EsuriJohn View Post
The EUC class action will not affect or be effected by any change in the MF status. Yes if they are successful it may reduce the ongoing daily maintenance however I firmly believe that the Ayuntamiento have obligations which they are not fulfilling to Esuri but they still take the money which in our case is about SIX times the cost of the EUC charge for what?


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Old Dec 20th 2014, 4:13 pm
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Default Re: Martinsa Fadesa

Originally Posted by EsuriJohn View Post
The EUC class action will not affect or be effected by any change in the MF status. Yes if they are successful it may reduce the ongoing daily maintenance however I firmly believe that the Ayuntamiento have obligations which they are not fulfilling to Esuri but they still take the money which in our case is about SIX times the cost of the EUC charge for what?

more 'trousering'?

Jon
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Old Dec 22nd 2014, 2:06 pm
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Martinsa And Reyal Face Liquidation With €7.5 Billion In Debt | Aura Real Estate Experts
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Old Dec 23rd 2014, 2:37 pm
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Martinsa Fadesa Offers Banks 70% Of The Company | Aura Real Estate Experts
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Old Dec 29th 2014, 2:20 pm
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Martinsa, límite 48 horas: Sareb y La Caixa giran el pulgar de 14 bancos sin piedad - Noticias de Empresas
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Old Dec 29th 2014, 5:06 pm
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Smile Re: Martinsa Fadesa

The link as given does not appear to work any clues as to what it says?
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