Arturo Fernández negotiates with Avalmadrid the payment of outstanding loans and ensures that there are sufficient guarantees

The businessman and former president of CEIM and the Chamber of Commerce of Madrid, Arturo Fernandez, has assured that he is in talks with the Reciprocal Guarantee Company Avalmadrid to set a payment schedule in order to liquidate the loans still pending and trusts that it will not be It is necessary to execute the guarantees presented, a home of yours and a hotel that have a value between 7 and 8 million euros.

This has been indicated in statements to Europa Press after knowing the information published by the newspaper ‘The World’ which pointed out the possibility that the businessman lost his home in San Sebastian de los Reyes having failed to return the totality of several loans granted by Avalmadrid, with an amount close to 1.7 million euros.

Fernandez has indicated that, like “many companies,” he requested Avalmadrid a series of loans that were granted him in a “legal” and “transparent” manner, to emphasize that he is in talks with the reciprocal guarantee society to settle the debt and proceed to lift the embargo, negotiations that take about eight months.

The businessman ensures that the negotiation with Avalmadrid is being carried out “correctly” and without “any problem” to liquidate these loans, stressing that they are also “sufficiently guaranteed” with the assets presented and represent a lot of value of the outstanding debt, encrypted still in 800,000 euros.

“I have been working with Avalmadrid practically since it was founded and I have returned all the guarantees, I have been an entrepreneur with about 2,500 workers and religiously repaid the loans granted in a legal manner,” the businessman stressed.

In addition, Fernandez has detailed that “has nothing to do” that loans were granted in the times of Esperanza Aguirre and Ignacio Gonzalez at the head of the Community of Madrid and criticizes the “persecution” that is against him, which “does not make sense ”

In this aspect, he does not understand that it is news that an entrepreneur has a loan that he must return and stresses that this situation “harms” him. “Are you going to take out all the entrepreneurs who have a loan with Avalmadrid or who have a debt with a bank?”, The former president of CEIM and the Chamber of Commerce asked.

On the other hand, Fernandez has stressed that after the difficulties generated by the economic crisis has returned “enough” of outstanding obligations and stresses that the Community of Madrid, as its president Cristina Cifuentes has said, “has no problem” because there is a “very broad” guarantee if an agreement on the payment schedule of outstanding loans is not reached.

“There are real guarantees in case of not being able to pay the loans. What more do you want?”, Arturo Fernández has said, pointing out that he considers it “outrageous” to be in the news for not yet paying a loan and believes that a “multinational does not They ride this chicken. ”

However, he explains that he is “calm” and that the outstanding amounts will be paid in a consensual manner with Avalmadrid. “I would say it is on the way to be resolved,” he added.


For its part, Avalmadrid sources have told Europa Press that the financial institution is regulated by the Bank of Spain, which establishes that entities have the organization, procedures, and tools “most appropriate to ensure the proper management and administration of assets ”

In the specific case, the following actions are put in place for the management of total or partial defaults of the loans granted by this body.

Thus, in the first place, the participating partner is contacted to understand the “reasons for non-payment and an attempt to reach an agreement” for payment, trying to resolve the situation. Subsequently, a follow-up of the payment schedule or agreement reached is maintained.

In the event that there is a “repeated breach, the procedures for preparing the judicial file are initiated, verifying the assets of those obligated to pay, together with the solvency and equity data of the holders and guarantors.

Likewise, the same sources stress that “the possibility of reaching a payment agreement is always left open, throughout the entire process”. In the event that this agreement is not reached, direct legal actions are initiated against the participating partner and the guarantors if any.

Finally, they indicate that, if the participating partners present or are immersed in insolvency proceeding due to provisional or definitive insolvency situation, Avalmadrid is a person in the procedures to enforce their rights.