More Costa del Sol Property Woes A Life In Spain: Blog & Forum about living in Spain: "Alanda Homes has become the latest casualty of the property crash in Spain.
The company that promotes and sells properties around Marbella has requested to enter a voluntary process of creditors in a Marbella court.
The move comes beacuse the Irish group MnInerney, owners of Alanda Homes, stopped funding the subsidiary as a result of negative prospects of recovery in the Spanish property market.
“The group has taken the decision not to invest more funds in its Spanish subsidiary of Alanda Homes apartment development,” McInerney said in a statement to stock exchanges in London and Dublin, where listed. “Therefore, Alanda Homes has requested the appointment of an administrator through the Spanish courts"
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