The fallen giants of the real estate bubble continue to lead the list of defaulters with the Treasury

The fallen giants of the real estate bubble continue to lead the list of defaulters with the Treasury

bruno perezMadrid Updated: 06/30/2022 17:51h

The consequences of the bursting of the Spanish real estate bubble continue to drag on almost three decades later. If there is something that perfectly exemplifies it, it is the list of defaulters with the Public Treasury that in the middle of 2022 still points year after year to the fallen real estate giants as the largest debtors for non-payment of taxes with the public coffers. The list released this Thursday by the Tax Agency places the real estate company Reyal Urbis from La Mancha as the largest debtor with the Treasury, with pending payments worth more than 310 million euros; followed in that list of shame by another of the emblematic brands of the bubble rattles, Polaris World, which accumulates more than 243 million euros in tax debts in half a dozen different companies.

Three other companies that built their fortune during the years of the brick appear among the largest debtors with the Treasury. the Arenal 2000 Group, owned by the controversial Cordovan businessman Rafael Gómez, known as 'Sandokán', which still pays 150 million to the Treasury; the Prasa Group, owned by Cordovan businessman José Romero (more than 94 million in tax debts); the Madrid-based Servicios Esquerdo (97 million euros) and the real estate company Aifos, which owes more than 91 million euros.

The hole that the bursting of the real estate bubble made to the public coffers has barely been staunched in the last fifteen years, despite the fact that a handful of brick and mortar companies that since the beginning of the publication of the list appeared among the largest defaulters have left and to appear either because they have been liquidated or because they have reached an agreement to pay their debts with the Treasury, as is the case of Isolux Corsán, Martinsa Fadesa or Nozar.

The Abengoa Group also appears in the top 10 of the most delinquent, including the parent company and the subsidiaries, which owes more than 94 million euros to the Ministry of Finance, a charge that has perhaps conditioned Sepi's decision to
not rescuing the Andalusian energy company

The new economic pattern of the Spanish economy, less focused on construction and real estate, has brought a new profile of delinquent companies. Among the ten with the most debts with the Treasury appears a handful of semi-unknown companies such as Palemad Reciclaje, which despite its name is dedicated to brokering the import of goods of all kinds, and which has accumulated debts of more than 127 million euros with Tax authorities; the service station management company Marillion SLU, which owes 123 million euros; or the firm Vittone 1842, which is dedicated to the storage of imported alcoholic beverages, and which accumulates debts of 11 million euros.

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