Automatically translated from Basque, translation may contain errors. More information here. Elhuyarren itzultzaile automatikoaren logoa

The Cerberus vulture fund takes care of the housing of the elderly couple of Irun who has received the eviction order

  • Solvia, the real estate company working for the bank Sabadell, informed her partner that they had to leave their home on 24 January. The property of the house, however, has become the property of Promontoria Coliseum, a subsidiary of the vulture Cerberus fund, to whom Sabadell has sold the house.

21 January 2021 - 13:12
Stop Kaleratzeak, Alokairu Benta Berrik eta Inquilinos Azorak egindako agerraldia (Argazkia: Kaleratzeak Stop Donostia)

At the beginning of January we learned that a 75-78 year old couple from Irun was at risk of eviction by the complaint filed by the Stop Evictions Gipuzkoa platform. Ángel Miguel Medrano and María Oliva Corvo placed their house paid in full as an endorsement of the loan requested to the bank by their son. The son asked for the loan at Banco Sabadell, after the company took care of his parents, but the business did not thrive and the bank stayed with the house. Subsequently, the two parties signed a social rental without a three-year extension, which expired on 24 January. On 1 September, the real estate agency Solvia, in charge of managing the homes acquired by the Banco Sabadell through foreclosures that are dictated by the default of the mortgage, informed the couple that on 24 January they were going to leave the house, that is, they would be evicted houses.

In recent days, however, the case has undergone a change of direction. In a statement sent this Thursday by Stop Evictions, Aloku Benta Berri and Tenants Azora, the property is reported to be owned by Promontoria Coliseum, a subsidiary of the vulture fund Cerberus. The note explains that the new owner has sent a bureaucrat to Mendrano and Oliva, informing them that he is going to extend his current social charter contract for a year. The affected couple and the signatories of the communication consider it a "mockery", arguing that this measure "is by no means sufficient" and that the new owner should make a new seven-year contract, with the possibility of extending it by three more. The note clarifies that the mayor of Irun has also joined the reading.

Stop Evictions, Aloku Benta Berri and tenants Azora have made it clear that they will continue the mobilizations until a seven-year rental contract is signed which provides for the possibility of a three-year extension. In addition, they have warned of the need to deal with the "vulture funds" in Spain.


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