Andorra Notaries Finalize AGA Insolvency Property Transfers
After Tribunal Constitucional rejects owners' challenge, notaries have begun formalizing sales of buildings, flats, and offices from the failed.
Key Points
- Notaries formalizing transfers of AGA-owned properties after constitutional court rejects owners' appeal.
- Court cleared syndic to manage insolvencies, enabling auctions of buildings, flats, offices.
- Delays overcome despite partial win for owners in superior court on claims revision.
- Syndic awaited approval to proceed with stalled and recently auctioned assets.
Notaries in Andorra have begun formalising the transfer of several properties previously owned by Assegurances Generals (AGA), the failed insurer, in recent days, overcoming months of delays.
The process accelerated after the Tribunal Constitucional rejected a challenge from AGA's owners, who had contested the appointment of a syndic to administer the group's insolvencies. Their appeal also questioned the valuation of assets, but the court's decision cleared the way for auctions and subsequent transfers of buildings, flats, offices, and commercial premises linked to AGA or its associated companies, all now in bankruptcy proceedings.
Original Sources
This article was aggregated from the following Catalan-language sources: