The administrators who took over the accounts of the firm Aifos last july have released a preliminary report. In this they name some 6,234 creditors who are owed debts that amount to more than 884 million euros.
More..
As it is already well known, since 23rd of July the AIFOS Bankruptcy has initiated a new chapter in this creepy story. The situation was foreseeable as the reputation of this company was well known. Aifos commercialized developments at very competitive prices and had very good marketing strategies. They did not have building licenses, sometimes they were not even owners of the land, and in the majority of the occasions they did not grant the bank guarantees ordered by law nor did they deposit the monies received in a special bank account as established by law. How could they keep this behavior for years should be a matter of a deep and serious study. The financial crisis and the sudden end of the property market boom provoked this predictable end.
More..
According to the Spanish newspaper ‘El Pais’ the Spanish developer Aifos has been forced into administration proceedings by creditors.
