15 November 2018 – Preferente
On Thursday, the judge of the Court of First Instance number 51 of Madrid rejected the provisional measure requested by Grupo Baraka against Riu Hotels regarding Edificio España, where the hotel chain is finalising the construction of the largest hotel in the centre of the Spanish capital.
The judge sided with Riu and ruled that Grupo Baraka must pay the legal costs. Baraka sought to record in the Property Registry that an open litigation case existed regarding the ownership of the building, but that claim has been rejected by the court.
Riu considers that the legal ruling clearly shows “the lack of basis imposed by Mr Casanova and his business group, which represents an important step for clarifying that Riu is the sole owner of the property”.
The hotel chain led by the siblings Carmen and Lui Riu expects to open its new hotel in Madrid, the jewel in the crown of the Riu group, next spring.
Original story: Preferente (by R. P.)
Translation: Carmel Drake