EsuriJohn

Well managed to get a Google translate but non the wiser half of the report seems to say they will be bankrupted on the 31st then the second half mentions Rajoy and it seems that they may re-emerge as a bank run company. Something about it being too risky just in front of the upcoming general election and the need for Rajoy to be re-elected to keep the ship of state afloat.

Paco

in this case was is the best for Costa Esuri ?

EsuriJohn

My view would be that Esuri is best served if Fadesa is made properly bankrupt. Then all things are up for grabs and the assets transferred to the banks could be sold off for the best price but quickly.

The hotel, golf clubhouse and the two golf course can be sold to a proper golf resort operator such as Melia who are reported as showing interest among others.

Of course there are those who say "better the devil you know" but in 7 years MF have done absolutely nothing for Esuri time for a new start is my view.

Paco

Esuri John, I have the same opinion.
Finger cross för the next two days.
Best wishes for the next Year !

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I used Translate
The gist is that 12 of the banks have given Sareb { the state Bad Bank} and La Caixa the authority to vote whether to accept MFs deal. Any creditor with 9% can send then into liquidation. Both of these have the %.

It says Sareb are tending to accept the offer Possibly for political reasons, being set up by the the State. Therefore La Caixa are the one who is theare possibly the one who will make the decision to send MF to where they belong

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Martinsa Challenges Creditor Banks By Going To Court Without Agreement | Aura Real Estate Experts

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Latest News

Deadline For Martinsa: 26 Feb | Aura Real Estate Experts

EsuriJohn

You must be reading my mind I was just going to post " anyone heard how the court reacted ". Let's hope that the big debtors hold their nerve ignore the government and fold Fadesa on the 26th!

MikeJ

Although you'd have to feel sorry for all those who will lose their jobs.

EsuriJohn

Yes I do feel sorry for anyone who loses a genuine job however I don't think MF employ very many directly and certainly not tradesmen anymore. I think there is just one salesperson in Ayamonte and I am sure she will be on a commission only basis theses days!

BILL AND CLAIRE

Just think of all the jobs that are created.

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Another twist of the knife

Martinsa Losses Battle With Jove & Fails To Convince Its Banks | Aura Real Estate Experts

EsuriJohn

Another step maybe the biggest yet to a proper liquidation of the assets of MF. Then perhaps someone with deep pockets will come in for the hotel and both golf courses so that CE can become the proper golf and leisure resort it was always planned to be.

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Martinsa Has Until Thursday To Convince Its Lender Banks | Aura Real Estate Experts

Paco

tic tac tic tac tic tac ... !!!