20/11/2014 – Cinco Dias
The Mercantile Court nº 1 in Madrid has run an insolvency lawsuit for Arturo Hoteles, a hotel chain belonging to CEIM (Madrid’s Entrepreneur Confederation) chaired by Arturo Fernandez. The company has been pulled into bankruptcy by the entire Grupo Arturo Cantoblanco.
Data Legal lawyers office became the official receiver, having experience in managing such large bankruptcy proceedings like the ones of Seop or Detinsa, owing more than €300 million each.
According to the firm’s web site, Arturo Hoteles manages three establishments: four-star Arturo Norte in Madrid located nearby the Barajas airport (pictured on the right), the Hotel Miranda & Suizo in San Lorenzo del Escorial and the Hotel Monasterio de Rueda in Aragon.
At the end of 2013, the Cantoblanco announced sale of 51% of Arturo Hoteles to Real Investment Holding. However, as the head of the latter said the transfer did not materialized as the company of Arturo Fernandez provided it with ‘inaccurate accounting and financial balance picture, concealing the insolvent situation of the group’.
Original article: Cinco Días (by Alberto Ortín Ramón)
Translation: AURA REE
Source: AURA Real Estate Experts