**Inparsa**, a family-owned company **that owns** the **Beatriz Hoteles chain in Lanzarote**, has filed a **complaint with the General Council of the Judiciary** (CGPJ) against the presiding judge of the Mercantile Court No. 3 of Las Palmas de Gran Canaria, responsible for approving the restructuring plan promoted by the Blantyre Capital fund (Meru), Beatriz Hoteles reports in a note to the media.
This judicial resolution implied the change of ownership of a company "valuing its shares at 12 million euros, instead of its real value of more than 73 million euros, since the company's hotel assets are currently valued at around 127 million euros, compared to an incomplete and obsolete valuation, since it was carried out in January 2024, which valued the assets at 66 million."
All of this, explain sources from Beatriz Hoteles, "despite its proven solvency, its history of growth, and the approved financing that guaranteed the full payment of its debt."
The complaint being studied by the CGPJ maintains that "the process suffered an undue delay of one year and that the judge contradicted his own previous ruling, ignored essential financial evidence, and issued a judgment without full competence, causing millionaire financial damage and violating fundamental constitutional rights, such as property and effective judicial protection. All of this leaving Inparsa without a defense."
The legal action is part of Inparsa's "commitment to defending the principle of legal certainty and seeks to raise awareness about the precedent that this case could set in the application of the Insolvency Law in Spain."
---Story developing, more to come---
