February 27, 2021

The president of Integral Security does not see the company at risk of bankruptcy – The Province

The president of Integral Security does not see the company at risk of bankruptcy - The Province


The president of Integral Security Canaria (SIC), Hector de Armas, denied outright that the firm, which was once the flagship of the business heritage of the president of the Sports Union Las Palmas, Miguel Angel Ramirez, is hopelessly doomed to bankruptcy . De Armas thus went to the passage of the content of a report of the insolvency administration that concludes thatthe difference between the debts contracted by SIC and its assets is such – more than 30 million euros-that makesimpossible the viability of the company.

De Armas himself acknowledged before the microphones of the Being that if he were not linked to SIC and therefore did not know what the situation really is, he would also see Canarian Integral Security condemned to close down. However, the president of the companyHe said that the report of the insolvency administration does not attend to an "important nuance".Which? The one of a debt of Synergies of Surveillance and Security in favor of SIC, according to assured. A debt that almost exactly matches the amount of that imbalance between the debit and the security of Canaria Integral Security, so that its collection would allow SIC to wipe out that imbalance.

De Armas delved into the situation andHe said that at the time a contract for the assignment of assets between SIC and Security and Surveillance Synergies was signed.for a value of 37 million euros. And it happens, he added, that the latter company "has not paid", with which the president of SIC announced that they will set in motion the "legal mechanisms" at their disposal to resolve the contract. The businessman explained that the agreement between the two security companies includes a clause under which, and in the event of default – as has been the case – SIC reserves two remedies: on the one hand, the to demand payment plus the corresponding interest and, on the other, to "request the refund of the entire portfolio of clients", which would thus return to be direct borrowers of SIC services.

In this line, De Armas said he was "absolutely convinced" of the viability of the company in the short, medium and long term and emphasized that the company is paying its workers -about half a thousand- not already between days 1 and 5 of the following month, but even "day 28 of the current month". "Our goal is to continue fulfilling our workers, public bodies and our suppliers," said De Armas, who said that SIC is already up to date with the Public Treasury and Social Security.

Viability plan

The president of Integral Security Canaria also took the opportunity to clarify that despite the information that has transpired in this regard,the company does not yet have a feasibility plan,Basically, he went deep, because it is now a month and a half when he has to present it within the framework of the bankruptcy procedure. "The plan has to be presented in a month and a half," said the representative of SIC.

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