Majorca Property News

Hunting on the fincas of the insolvent

Scene Mallorca lawyers and special investigators felt after villas, luxury cars and boats that Pleitiers before the creditors want to save.
This kind of reception itself Urs on Mallorca Pelizzoni not yet experienced: Just in time he could with two officers of the Guardia Civil, the Spanish police over the fence of the site of the luxury villa in front of a wildly become Doberman rescue.
The Swiss Business Bankruptcy Pelizzoni lives than money hunters sometimes dangerous. He studied at the Balearic island after villas, cars, boats or other goods, which Pleitiers hide and the insolvent vorbeimogeln want. The creditors then went empty-handed. And the feeling of Mallorca bankrupts remain untarnished.
In the case of the villa owner with the aggressive Doberman Pelizzoni still had no success: He found the Pleitier not. But the Swiss will not be stopped: he knows only too well how to catch prey and not letting go. On behalf of German creditors Pelizzoni hunt together with three colleagues after assets of German and federal Pleitiers on the holiday island of Mallorca.
Trappings of power just hide
The crisis also reaches the islands. Many of the troubled economy Laute entrepreneurs and privatization do not leave anything unturned, the trappings of their wealth to their creditors at home to hide. It's a race against time: The Spürtrupp is the financial jugglers on the heels - and in turn, hiding, or rely on legal tricks.
"Recently," Pelizzoni told investigators, "have the people in one night and fog action, the entire inventory of their villa for 300,000 euros hinausgeschafft. When we arrived the next day, was no longer tap on the wall. "
Rescue, to save what is, is the motto. A favorite trick is, the villa became a symbol to a friend price for rent - Spanish tenancy the property must not be seized before the five-year contract expires. But some damp finca-owner does not know that Pelizzoni by the creditor attorney with the property can do whatever he wants. The main thing is that the property brings as much money.
And Pelizzoni also tried the Spanish law: then the owner of a luxury property to rent to a multiple increase. The trick with the long-term tenant is failed, the eviction action is just around the corner.
Pelizzoni and his colleagues have no appetite for this cat-and-mouse game. Ideally, they secure the property of Pleitiers, which now belongs to the creditors, in time with a "lock tenant", ie an employee who is constantly on the grounds of the villa resides. So it may make the former owner of stupidities hold.
The German debtor in the fight to try their fortunes also Korrumptives to get through. "It happens time and again that one tried to Barem to win, so we have the sports car out of the garage can be," says Pelizzoni.
The Swiss and the other three employees of the insolvent company Europe SL can this year before contracts hardly save. Dringend examines the firm from Palma de Mallorca employees, the land, and understand something of forced sales.
50 property of your bankruptcy last year came under the hammer this year registered the insolvency Europe SL already more than 300 mainly German and British failures in Mallorca.
Many people from the target Europe insolvency had believed their finca in Spain was also in the case of Pleite safe from German authorities. But since a few years use EU regulations, you authorized the Spanish authorities, investigators assistance in the enforcement of creditors' claims to be German. Prerequisite: The bankruptcy of a German court confirmed.
Some have it with this innovation caught cold. Others, however, have prepared. Hans von Rotenhan, German lawyer from Palma, has a hit list of most popular tricks Obfuscating zusammengestellt.
Easy to write about the wife
At the top is the transfer of the property to the wife, so Rotenhan. Trick number two: "It brings the property into a Spanish company and sold the shares then to an offshore company." And then there are the strategy, the house in a company to hide its CEO a trusted third party. The nice effect: The bankrupt will remain on his farm because he did not officially belong.
German lawyers have long since with the approval of Spanish insolvency business for themselves. Also they can professionally in land registry and cadastre offices browse - and neighbors seemingly innocuous questions.
Only two weeks ago reported Stiff Manuel, also German lawyer with offices in Palma, a double success. Two German neighbors in Mallorca were broke, and both had their villas in the insolvency estate passed to smuggle. Unfortunately, that couples with its German banking consultants like chatted about their villas - and the Bank consultant again like Stiff talked with a lawyer.
Ever: "The Germans and the Swiss properly documented and are eager for information," says administrator Pelizzoni. "From the evidence to get quick access to the evidence, which are in the folders ready filed."
Langer need breathing
Sometimes however, the executor need a long breath. Rotenhan is currently for a German client on the look. In order to cash in front of his creditors to hide, has a German debt to the widow of a recently deceased millionaire known a finca in Mallorca bought. The calculus is simple: Under Spanish law the new owner must not be entered in the land. Sun looks to the creditors in the tube and the debtor lives on his new farm.
On the question of what the lawyer will now undertake, Rotenhan answered: "I wait until he has a carelessness as the true owner outet."
Then only the Doberman respected.