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The Creditors of Santander’s Headquarters Caught Up in Another Legal Battle

The conflict affects the distribution of €284 million that was left over after the sale of the Ciudad Financiera to the Reuben brothers once the money had been returned to the creditors of the property, including CaixaBank and ING.

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Banco Santander‘s Ciudad Financiera.

It seemed that the problems surrounding the ownership of Santander’s Ciudad Financiera had ended earlier this year, when the entity bought back its headquarters in Boadilla del Monte (Madrid) from the Reuben brothers, who had, in turn, acquired it from the previous owners following an insolvency process, according to Expansión.

But a legal battle is still on going in London, with one of the campus’s former owners confronting several investors who lent him money to finance the purchase of that real estate asset. Specifically, the conflict affects the distribution of €284 million that was left over after the sale of the Ciudad Financiera to the Reuben brothers, once the money (around €2,000 million) had been returned to the senior creditors of the property, including CaixaBank and ING.

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