Judicial credit right of €677,629.44

Sold at auction, with judicial authorization, the credit right held by the insolvent company (in the liquidation phase) against its former corporate administrator. The administrator was ordered to pay as a person affected by the wrongful classification of the insolvency.

- Amount of the credit

• Principal and outstanding interest: €677,629.44 (€677,778.84 recognized in enforcement, minus €149.40 already collected).
• In addition, €203,333 has been provisionally budgeted for interest and enforcement costs.
• The sale includes the credit with all its accessories: the interest and costs that are liquidated pass to the buyer.

- Current situation

• The credit is in judicial enforcement, with a general enforcement order issued.
• The debtor's asset investigation and the garnishment of the balances in their bank accounts have been agreed.
• According to the cadastral query, 3 urban properties in San Cristóbal de La Laguna (Tenerife) and 15 rural plots in El Hierro, with 30,827 m² in total, could belong to the debtor. This information is indicative only: it does not prove ownership and no attachment is recorded on those properties.

- To be taken into account

• Minimum price: 30% of the credit value (€203,289).
• The insolvent company is liable only for the existence and legitimacy of the credit, not for the debtor's solvency or the outcome of the enforcement.
• Requesting procedural succession in the enforcement and notifying the assignment to the debtor is the buyer's responsibility, at their expense.
• The judicial documentation is provided to registered interested parties once the NDA is signed.