There are a few rumours floating around, again, at Sol Andalusi. I will update you here to the best of my knowledge:
Sol Andalusi SA have filed for voluntary bankruptcy. This was published 26th January in the Boletin Oficial de España (see below) and it means that we, the community, and anyone else, have one month to register any debts owed to them by Sol Andalusi SA .
Sol Andalusi SA have filed for voluntary bankruptcy. This was published 26th January in the Boletin Oficial de España (see below) and it means that we, the community, and anyone else, have one month to register any debts owed to them by Sol Andalusi SA .
This does not mean that Sol Andalusi have gone out of business. It is an acknowledgment that there are cash flow problems but not that they are without assets.
The first thing that happens is a “concurso de creedores”. All payments are frozen and the administrator makes a report (but note this differs from the UK interpretation of calling in the administrators) with regard to the creditors and debtors.
While this is going on Sol will not have to pay the community anything, yet they can continue to operate as usual.
After this stage, which could take years, yes years, there are two different possible outcomes.
- the company could be liquidated
- they could come to a settlement with creditors , deals can be made, and it’s back to business
How much is currently owed by Sol Andalusi to the Community?
ReplyDeleteAre you saying that they can continue with their business activities - weddings etc - using our utilities for ever and a day? Can Pedro do nothing about this for us? It seems absolutely monstrous. No wonder people don't want to pay.