Valencia “Facades with alucobond type aluminium, hardly flammable or non-flammable” and a building of “the highest quality in construction materials with modern installations, finishes and equipment”. This is what the real estate developer of Catalan origin, Fbex, boasted about the property burned down on Thursday in the Campanar district of Valencia, which has left at least 4 dead and 14 missing. Originally founded in Barcelona in 1918, the company expanded its business in the Mediterranean area with buildings in the Balearic Islands, Murcia and the Valencian Country, reaching a workforce of up to 229 employees in 2007 and intending to raise up to to 10,000 homes throughout the State. In 2010, however, it entered bankruptcy.
In its promotional videos, which have been rescued from the newspaper archive nearly two decades later, the company described the buildings now consumed by flames as “cutting-edge and unique” and “united by a spectacular panoramic elevator”, with the “maximum quality” in construction materials and modern facilities. In addition, it boasted of applying “rigorous quality controls throughout the building process”. It did so by relying on regulations that allowed the use of polyurethane and that did not change until the tragic fire at London’s Grenfell Tower on June 14, 2017, in which 72 people died.
Promotional video of the incinerated building in Valencia
To raise his building, and as he has advanced the Diario.es, the promoter had the financial support of Banesto. But it was not enough and, due to the bankruptcy of the real estate sector between the years 2005 and 2008, the company entered bankruptcy. Thus, the insolvency of the company would have caused it to leave a debt of 27.7 million with the public administrations and of around 1,100 million euros with various financial entities that subsequently refinanced it. He also applied an Employment Regulation File that affected 82 workers (only eight remained in the workforce). Finally, in 2010, and with a debt of 671 million euros, it entered bankruptcy. The competition ended in 2017 due to non-existence of goods.
Origin in Sant Cugat
The company’s shareholding was mostly controlled by the sole administrator Juan Parada Henares, who directly owned 49.07% in addition to 23.28% through Gestió i Tramitació d’Habitatges SL and a 9 .69% with the firm JP Sica SL. The rest, with 17.96% of the shares, were other partners who do not detail the balance sheet. Juan Parada Henares is currently listed as CEO of Catalana Internacional de Valoracions SA, sole administrator of Nunda Project SL and Juanpar II SL.
The businessman testified before judge Pablo Ruz in the case that investigated the alleged money laundering of Jordi Pujol Ferrusola, the first-born of the former president of the Generalitat de Catalunya. The promoter, from Sant Cugat del Vallès, denied knowing the Pujols.
2024-02-23 12:17:18
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