Alejandro Sanz is facing a financial storm that threatens to overshadow his illustrious musical career. On the eve of his 55th birthday, the acclaimed singer has been declared in default by the courts due to a million-dollar debt that he owes to his properties in Miami.
As El Mundo's La Otra Crónica has pointed out, the focus is on a significant debt of three million euros that has led the courts to declare him delinquent. This unfavorable economic situation has been triggered by a series of loans that the artist acquired to buy luxurious properties in Miami, operations that were channeled through his companies, Alkazul S.L., Gazul Producciones S.L.U. and Music on Wheels. However, the non-payment has precipitated a chain of judicial events that now threaten the seizure of his assets.
The origin of the problem lies in the acquisition of two opulent properties in Miami for a total of seven million dollars. To finance this purchase, Sanz resorted to loans granted by Total Bank of Florida. However, the singer's financial peace began to falter in 2019, when he defaulted on payments, prompting the bank to initiate foreclosure proceedings.
The artist, who tried to sell the properties for a significantly higher amount than the initial amount, found himself trapped in a legal spiral when the American justice system confirmed the debt of almost 12 million dollars in his name in 2020. The sale of the properties by the SHEDDF2 investment fund was unable to cover the entire debt, leaving an outstanding balance of three million euros. The Miami Court ruled on the payment of this sum, and now the Spanish justice system seeks to execute this sentence.
The complexities of the case have reached Spain, where the Court of First Instance number 47 of Madrid has taken charge of the claim for this debt. The impossibility of notifying Sanz of the judicial resolution due to lack of location has worsened the situation, to the point of declaring him in default.
The Spanish justice system now seeks to execute the sentence handed down by the Miami Court, which involves a payment of three million euros, to compensate for the difference between the original debt and the amount obtained from the sale of the properties, which finally led to out the SHEDDF2 investment fund.
