The business dispute between two of the giants of the Canary Islands tourism and construction sector—the Lopesan Group and the Santana Cazorla Group—entered a new chapter in the courts this Monday. Commercial Court No. 1 of Las Palmas de Gran Canaria has rejected the entry of Lopesan Touristik into the bankruptcy proceedings of Mar Abierto SL, a company belonging to the Santana Cazorla business conglomerate.
In a brief but forceful ruling, the court established that the status of "mere bidder" to acquire assets of the bankrupt company does not constitute a "legitimate interest," as required by Article 512.3 of the consolidated text of the Bankruptcy Law. This effectively halts the Lopesan group's attempt to gain a position in a process in which it had put on the table a binding offer of €88,5 million to acquire a joint production unit of Hermanos Santana Cazorla and Mar Abierto SL.
The court also clarifies that the sale of assets is being processed via auction, under the supervision of the bankruptcy administration—managed by the firm Lener SLP—and that, in any case, Lopesan must await the outcome of said process or any eventual judicial authorization before proceeding with a direct sale. In other words: there is no preferential treatment.
A convoluted process with many eyes on it
The Mar Abierto SL proceeding, which has been in receivership since October 2021, has a long list of creditors, including major names in the financial world and public administrations. From Sareb, Banca March, Banco Santander, and Caixabank to the Mogán City Council, the Tax Agency, and Social Security, as well as suppliers such as Etika Food, Frutas y Verduras Gutiérrez, and Isla Marina. In total, more than a dozen entities and individuals with credits at stake.
Added to this scenario is the necessary tender process for Hermanos Santana Cazorla, which opened in March of the same year, which adds complexity to any attempted operation involving production units from both networks.
Lopesan, which had launched its offensive as a corporate lifeline for part of HSC and Mar Abierto's operations, now sees its attempt to gain prominence in a lawsuit being fought amid balance sheets, judicial auctions, and high-profile corporate tensions frustrated.
Another battle on the Canary Islands tourism board
The dispute extends beyond the halls of the courtroom: it's also played out on the strategic board of Canary Islands tourism, where every square meter of land, every hotel operation, or every administrative permit can tip the course of two groups that shared projects for years and are now trading lawsuits.
Lopesan continues to make a strong investment with liquidity, tourism muscle, and a clear interest. But the Commercial Court drew a clear line this Monday: anyone without a legitimate legal interest is excluded from the courtroom.
The legal, economic, and business battle isn't over. But the game—for now—won't be played by everyone.
