Anfi Sales and Anfi Resorts Declared Bankrupt with a €56m Debt They Cannot Pay

The Commerce Court number 1 in Las Palmas de Gran Canaria agreed this week to declare necessary bankruptcy for tourism companies Anfi Sales SL and Anfi Resorts, The Canary News reported. There will be an appeal against that judgement heard before the Provincial Court, although it will not be suspensive; that is to say, it will not impede the judgement. Judge Alberto López Villarrubia accepted the request made last year by the company Isla Marina SL to declare the companies bankrupt. The debtors — part of the Anfi group under the control of the Santana Cazorla Group — have been suspended of their powers of administration and disposition of assets, meaning they are no longer free to make decisions pertaining to those two companies, nor can they dispose of any assets belonging to those companies. The powers have now been assumed by the administrators, Par Conditio SLP. During the procedure, three expert reports were provided on the financial and business situation of Anfi Sales and Anfi Resorts, made by José Manuel Arias, Sergio Roque and Addvante Forense & Concursal SLP. In summary, handing down his judgement, the magistrate endorsed the latter, which highlighted the lack of liquidity and solvency within the companies. He also referred to the fact that already in 2019 the Anfi Group had requested additional financing from the bank to refinance the syndicated loan contract that it signed at the time, a request that resulted in a negative response. Read more.