Fergo Aisa Goes Bankrupt

30/05/2014 – Inmodiario

The Catalonian real estate firm chaired by Carlos Fernandez ended up in insolvency after six years of unsuccessful arrangements with its lenders.

Now it´s a fact. The Mercantile Court number 5 of Barcelona pronounced liquidation due to Fergo Aisa´s €300 million indebtness and said the firm “is a goner”.

In spite of all evidence, the president assured that the company was still operating and was at the verge of closing several projects. However, Fergo Aisa´s latest sales were registered in 2010, corresponding to swapping its debt for real estate assets with lenders.

The firm eventually was declared bankrupt last year, bringing down its branches, such as Intelinaken or Gazkue. Moreover, the managing board of Fergo Aisa owes €116 million, half of which debt belongs to Mr. Fernandez. After numerous attempts to lift it up, none of alleged contracts was signed and it became obvious there was no other way than to liquidate the real estate firm.

 

Original article: Inmodiario

Translation: AURA REE

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