Spanish developer Nozar forced into bankruptcy proceedings by creditor
The Spanish developer Nozar has been forced into administration proceedings by a creditor, reports the Spanish press. This is a step in Spanish commercial law that can lead to administration and bankruptcy.
Tourist bookings in the Balearics falls by most in 20 years
Tourist bookings in the Balearics are down by between 10% and 20%, according to Aurelio Vázquez, President of the Association of Hotel Chains. This is the biggest fall that the Balearic tourism sector has suffered in 20 years.
“Without demolitions, the rule of law is meaningless”
In a recent press interview, Ángel Núñez, coordinator of Andalucia’s environmental public prosecutors, gave an insight into how the environmental authorities would like to approach the widespread problem of illegally-built homes in Andalucia. Here is a translation of the Q&A he did with the Spanish daily ‘Publico’.
Cases of property corruption scandals up 40% in 2008
A night out on the tiles with escorts is enough of a bribe for some public officials. The Spanish police investigated 164 property corruption scandals in 2008, up 40% from 117 cases in 2007, according to figures from the Ministry of the Interior. The number of related arrests rose from 134 in 2007 to 207 [...]
Spanish mortgage lenders offering alternatives to repossession
Some mortgage lenders in Spain are starting to offer clients struggling to pay the mortgage an alternative to repossession, reports the Spanish daily ‘El Pais’.
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