The Kirchner family real estate company has a favorable balance in its bank accounts of just over 300,000 pesos.
Since Lázaro Báez and Cristóbal López are no longer the main tenants of the firm,
it accumulates debts, usurped apartments, and an almost non-existent line of business.
The latest report from the judicial overseers indicates that the main asset of the Los Sauces company are the Puerto Madero properties: one of them has not been able to rent for six years and the other has debts with a foreclosure order: one of more than 4
million pesos and another for more than 500,000 dollars.
Los Sauces SA was the first company established by Néstor, Cristina and Máximo Kirchner.
It is a real estate company that managed to obtain properties after the former presidents carried out
various real estate purchase and sale operations with Lázaro Báez
, who in turn later became one of the main tenants.
The federal justice held that
the company was used "to channel funds simulating rentals"
and that allowed the entry of about 30 million pesos into the family's assets.
Under this accusation,
the Kirchner family was sent to trial, together with Lázaro Báez, Cristóbal López, Fabián De Sousa, Osvaldo Sanfelice and Romina Mercado
, among others.
In a controversial resolution of the Federal Oral Court 5 all were dismissed without the debate being held, but now the Federal Chamber of Criminal Cassation is reviewing the case to determine if the case, unified with its twin file in which the other was investigated Kirchner family firm,
Hotesur
, reopens or not.
Although all the defendants were prosecuted for money laundering through "fictitious rentals", and Los Sauces was seized by justice, in 2021 the administration of the company was returned to the Kirchner family.
Since then, it has had informant observers before the courts who analyze the accounting movements of the firm, whether there are corporate modifications, acquisition of assets, contracts entered into or concluded, among other circumstances.
The financial problem of Los Sauces was exposed when it stopped receiving the money that its main tenants guaranteed for years.
For example,
during 2019 "no rental income was recorded
, expense expenses and taxes must be met with the existing funds at the beginning of the year", detailed the report of the judicial intervention at that time.
In the last report of the veedores, as of December 31, 2022, the situation did not change in general terms.
Only in the last month of last year, for the rent of eight apartments located on Alvear street in Río Gallegos,
the company received 180,616 pesos.
The numbers show that in the bank account at the end of said period,
Los Sauces SA had a favorable balance of 331,958 pesos
.
Far from the 18,600,000 pesos that two Cristóbal López companies guaranteed as rent between 2009 and 2017, and the 7 million pesos that in the same period, Lázaro Báez paid with two other companies from his holding.
This real estate company has a set of properties that has not increased since its constitution: it always maintained the same properties.
An official report, held in 2020 that all the properties that Los Sauces SA has have a value of 973,009,971 pesos.
These assets are distributed in the share value owned by Máximo (55%) and Florencia Kirchner (45%).
The most valuable assets are the two apartments located in Puerto Madero
, which were rented by López's companies, Inversora M&S and Alcalis de la Patagonia.
At the market value of 2020, these properties cost 600 million pesos.
When the owner of Grupo Indalo was evicted by federal judge Claudio Bonadio, who was in charge of the investigation into Los Sauces for alleged money laundering, the duplex valued at 344.4 million pesos was never rented again
.
It was marketed by two important real estate companies in the Federal Capital, but they never managed to rent it and
it has remained empty for six years.
It only generates expenses in terms of the payment of expenses and the maintenance of the services of the real estate.
The department with debts
The biggest problem lies in the second property located in Madero Center, which was awarded a price of 255.7 million pesos.
This apartment, unit 4L of the Dique Building, accumulated
several eviction requests
by judicial intervention, which never materialized.
$7,500 a month had been paid
for the rental of that property
until Los Sauces was intervened.
As stated in successive reports,
the rent was not paid for years, accumulating a debt of more than 22 million pesos.
The latest report details that this property
is "in legal dispute occupied by Mrs. Rafaela Rubin", ex-wife of Fabián De Sousa,
partner of Cristóbal López.
Faced with this situation, the person appointed by the Kirchners to manage the real estate company made a presentation in Civil Court 46 asking for the execution of the million-dollar debt.
The alleged credit is made up as follows: "448,554.87 dollars and 2,523,030.78 pesos as principal, plus 80,000 dollars and 1,500,000 pesos that are provisionally budgeted to respond to interest and fines."
The civil justice proceeded to order the payment of the debt, which includes, in addition to the detailed numbers, "the recognition of a liability of 2,039,878.67 pesos for ABL."
The harsh report continues to specify: "Likewise, the aforementioned tenant accumulates a debt for the periods after the Agreement of $97,500.00 plus interest as of December 2022."
intruded departments
It is not the only debt of the Kirchner real estate company.
According to the latest report
there are three intruded apartments that have not paid rent for more than two years.
Despite sending a Document Letter to regularize the situation, the report details that the problem continues.
Finally, the overseers point out that they had to reiterate on several occasions the request for the delivery of the accounting information to the administrator, who did not provide it in a timely manner: "it is essential to have updated accounting documentation to complete the entrusted work," they said. they wrote to Sánchez, appointed by Máximo Kirchner to manage the company.
The observers indicated that despite the requests made "the administrator continues to provide only Purchase and Sale forms", which makes it difficult to know in detail the total numbers of Los Sauces SA.
Real estate without employees
The Kirchner family real estate company has another peculiarity:
it does not have any employees.
There are only three people who provide maintenance services for the Casa Patagónica Los Sauces boutique hotel, which was built on real estate land.
But these
three people "have Máximo Kirchner as their employer
," the report details.
As it was the national deputy who faced the salaries of these three employees, the real estate company refunded the money for "salaries, social charges and bonuses paid."
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