Costa Blanca

The (very suspicious) money abroad of the controversial Torrevieja apartments

The promise of the ideal Mediterranean seaside vacation was the draw that made Torrevieja popular on television throughout the country in the 1980s. But the homes that were listed on Un, Dos, Tres… soon became a nightmare for their owners. Years after the developer abandoned the La Torreta development, there are still problems with the sewage system and paving. The enclave is now a run-down neighbourhood, and some have even voiced their displeasure over squatters occupying mansions and chalets.

The local real estate boom can be attributed to developer Justo Quesada Aniorte, who was the driving force behind Torrevieja’s initial boom. However, one of the construction companies is currently accruing a trail of debts despite having assets and accounts abroad, according to the bankruptcy administrator of Justo y Manoli SL, one of the businesses that is a part of the corporate network of a family that has primarily developed property developments in Murcia and Alicante. Even though they are members of Grupo Masa, his children are gradually distancing themselves from his actions.

In actuality, the company owed the Public Treasury 10.6 million euros, which led the Tax Agency to identify it as a defaulter in 2024. But the liquidated corporation’s problems began far earlier.

A Supreme Court decision states that the business held by Justo y Manoli SL had debts of over 109 million euros in 2015, the year it declared bankruptcy. But it’s important to remember that the aforementioned corporation had 129 million euros in assets and slightly over 107 million in liabilities as of December 31st, 2009.

The Provincial Court of Murcia ruled in 2018 that “the claim that the delay in filing for bankruptcy does not cause aggravation should be rejected, since this delay has not been harmless from the creditors’ perspective.” The court stated that when the bankruptcy petition was filed in May 2015, the assets were estimated to be €41,112,081 and the bankruptcy liabilities totalled €108,969,552.

It has now been demonstrated in court by the bankruptcy administrator that Justo Quesada has funds overseas. Auren Concursal reports on the Tax Agency’s documentation in a July 2024 letter to the Commercial Court number 1 of Murcia.

First, on March 26th, 2024, the businessman filed Form 720 for the declaration of assets and rights abroad with the Tax Agency, revealing that he “holds bank accounts and financial products located abroad” worth around 3.4 million euros. Bank accounts at Credit Suisse (Switzerland), Creand (Andorra), Truist Bank (Florida, United States), Citibank (Florida, United States), and Bank of America (United States) are actually mentioned in the letter to the court.

Furthermore, the assets increased from €6.4 million in the 2019 fiscal year to about €3.2 million in the 2022 fiscal year, as indicated by the Wealth Tax forms for the years 2019, 2020, 2021, and 2022 that were filed with the Treasury. According to the bankruptcy administrator’s brief, “the executed party’s assets have been reduced by €3,224,733.03 from 2019 to 31/11/2022.”

Accordingly, he believes that “the majority of creditors are home buyers” and that “there has been a progressive and multi-million dollar decline in the assets declared by those executed” following the public administrations.

Through the Masa Group, to which their children are now connected, this publication has attempted to get in touch with the family. However, this real estate development company’s sources deny any affiliation with the Justo and Manoli SL firm. These sources emphasise that “this company has nothing to do with Masa,” but they also clarify that Justo Quesada’s business “is a firm in bankruptcy like so many others.”

In any event, Masa’s spokesperson notes that the case is being brought to court because “the bankruptcy administrator is being sued for malpractice.” “His assets have been declared for more than ten years and have been brought to the attention of the court,” the spokesperson continues. “If Justo and Manoli’s assets had been auctioned at market prices, these debts would not only have been paid, but there would have been money left over,” these individuals complain. The bankruptcy administrator has been approached by this newspaper, but he has not responded.

Manoli’s past has been replete with controversy; for instance, he was previously criticised for constructing 3,500 residences in Camposol (Murcia) without a permit. The Mazarrón City Council was forced to handle millions of dollars in damages to the development’s public facilities, and the Segura Hydrographic Confederation even launched action against the construction business for constructing in the bed of a ravine.

A former Justo y Manoli employee who is aware with the company’s financial records claims that “the parents transferred companies to their children, precisely to avoid the father being seized, prior to the bankruptcy.” According to one worker, who spent a number of years as a management at the construction company, the family’s method of surviving the financial crisis is “not paying suppliers.”

“They have survived real estate bubbles by leaving the companies and not returning until the storm had passed,” adds one former employee, who attests to the fact that home buyers who felt defrauded made a lot of complaints and claims. “I have seen suppliers and clients who have lost everything .”

According to this source, many customers who were left with partially constructed homes did not receive their money returned. “The trick has always worked out well for them,” the former employee complains, despite everything.

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Related Topics:Alicante Children Construction Council Court Local Market Money Murcia Public Tax Torrevieja

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Sticky Vicky’s daughter quits mum’s iconic Benidorm show

Adhesive the stage act has been sensationally abandoned by Vicky’s daughter, who has followed in her late mother’s footsteps, thereby leaving behind her family’s Benidorm legacy.

The unexpected decision was made after María Gadea Aragón assumed responsibility for the adult-themed magic performances following the passing of her mother, Victoria María Aragón Gadea, in 2023 at the age of 80.

María, who had been employing her mother’s stage identity in the well-known Spanish resort, has now discontinued her performances after a decade on stage.

María performed frequently at venues including the Palladium, Zodiaco, and Rockerfellers, as well as Benidorm which is a popular destination for British expatriates and vacationers.

Des Bellamy-Wright, an employee at the Benidorm Palladium, verified that María is no longer employed in the lively Spanish city. Des stated, “Sticky Vicky is no longer operational in Benidorm.” The ‘Carmen Snake – Sticky Show’ is a similarly entertaining program that is broadcast every night at 12:45 a.m. “

The official reason for Maria’s retirement was not disclosed, and her final performance was in November 2024.

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Elche’s H&M shop closing

The Swedish retail chain H&M announced in 2024 that it would be reducing the number of stores and employment it has in Spain due to “organisational, productive, and economic” reasons. Around 50 layoffs were the result of the closure of stores in the L’Aljub retail centres in Elche, Ociopía in Orihuela, and Habaneras in Torrevieja, which had consequences for the province of Alicante.

Additionally, these were the sole instances in the Valencian Community that were impacted. The Torrevieja store was the first to shut its doors in May 2024 since that time. The Orihuela store was subsequently closed on September 14th of the same year. Currently, the Elche store has shuttered its doors. The facility was closed to the public on March 14th, following its final day of operation on March 11th. It will be entirely shut down on March 22nd. Approximately 20 employees are being laid off at this Elche store. It is the final establishment in the province of Alicante that will not reopen, and the circumstances of the dismissal were negotiated in October. The employees have departed the company with an agreement as a result of these negotiations, according to Yolanda de la Casa, the general secretary of the CCOO Services Federation in Alicante.

The dismissal terms that were established following the October negotiations were 45 days until 2012 and 33 days until the present. A gratuity of 3,500 euros was granted for the first five years, 4,000 euros for the next ten years, and a maximum of 4,500 euros for the subsequent years.

Furthermore, three relocations have occurred among the 50 individuals who were laid off in the province, spanning Elche, Orihuela, and Torrevieja. Lely Fernández of UGT l’Alacantí-La Marina informed this newspaper that these were part-time employees from the Habaneras shopping centre in Torrevieja who were transferred to the La Zenia shopping centre, which continues to operate and is accessible.

H&M initiated 2024 by announcing the closure of 28 stores and approximately 588 collective redundancies. The figure was reduced to 521 reductions in a subsequent revision.

The Torrevieja store closed its doors to the public on May 17th, 2024, and the lease expired on May 24th, never to be reopened. Nevertheless, numerous employees at this establishment were granted the opportunity to relocate to other nearby stores that were still operational. In September 2024, Ociopía followed suit, and Elche followed suit in March 2025.

The H&M group operates over 100 stores and employs nearly 4,000 individuals in the country. This decision was made by the Scandinavian company in order to “adapt and perfect” its stores in a “changing” shopping environment for its consumers. Additionally, Spain would be responsible for 17% of the brand’s global closures, as indicated by the data that the company disclosed months ago when it presented its 2023 financial year.

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Man stole fire extinguishers to sell as scrap metal

A 20-year-old male is currently under investigation by the Guardia Civil for the purported theft of ten fire extinguishers. The fire extinguishers were discovered by Seprona officers during an inspection of a scrap metal establishment in Torrevieja. The store manager and the criminal are both the subject of an investigation.

The fire extinguishers, which were in near-new condition and completely charged, were discovered by the Servicio de Protección a la Naturaleza (Seprona) officers during the inspection. The investigation was initiated due to the fact that this material is “uncommon” in this form of business, as explained by sources from the Armed Forces.

Upon discovering the fire extinguishers, the officers enquired about the scrapyard manager’s documentation regarding the extinguishers’ arrival. The manager responded that he did not possess any proof of ownership. Additionally, he disclosed that a woman and her son had abandoned them there without his permission.

The company responsible for maintaining the fire extinguishers was identified by Seprona officers after they analysed the evidence and proof acquired. This verified that the extinguishers were located in a building in Torrevieja. The missing equipment was reported by the property manager of this community of proprietors shortly thereafter.

Fire extinguishers were recovered

Officers were permitted to confiscate the fire extinguishers and transport them to the Torrevieja Civil Guard barracks as a result of the formal complaint. Upon verification of their origin, they were returned to their legitimate owners.

The individuals implicated have been identified as a result of the operation. The 20-year-old man who is supposed to have stolen the fire extinguishers is being investigated for theft, while the 23-year-old proprietor of the scrap yard is being investigated for receiving stolen goods.

The Guardia Civil emphasises the necessity of reporting these types of incidents and reminds all individuals of the significance of doing so. In order to prevent the acquisition of stolen material, scrap metal dealers must establish rigorous controls, such as document checks on sellers and items received.