Martinsa Fadesa Estate Agent Gets Bankrupt Leaving 6.9 billion EUR of Debt

27 February 2015
27 February 2015, Comments 0
Martinsa Fadesa bankruptcy is the greater of a real estate company that has ever happened in Spain. In 2007, Promociones y Urbanizaciones Martín, S.A. (Martinsa) merged with Fadesa Inmobiliaria, S.A. (Fadesa) to create Martinsa-Fadesa. The company went in to administration on 15 July 2008 after failing to pay off debts. In 2013, the group lost 652 million euros. The judge may appoint the three who were in charge of competition Martinsa, Angel Martin Torres (KPMG), Antonio Moreno Rodriguez (Bankinter) and lawyer Antonia Magdaleno, two of them or just one.

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