Project Sun RockRecovery record

Commercial traceability · insolvency · restructuring · control change

CLUB SEI → FTI → INSOLVENCY → PRE-INSOLVENCY → BLUESEA

Meeting Point does not appear once in the Sun Park record. It appears in the documented Club Sei Lanzarote commercialisation layer; inside the FTI/Meeting Point perimeter that entered insolvency in Germany; in a €31 million SEPI/FASEE support operation; in a joint three-debtor Spanish restructuring/pre-insolvency proceeding; and in the later CNMC-authorised Portobello/BLUESEA control acquisition.

Recovery update, 27 AUG 2026: the FTI Touristik proceeding remains open; almost EUR 980m of filed claims, more than 73,000 creditors and an expected “very low” quota support a strong inference of ordinary-creditor deficiency, not a final figure. Estate-cost sufficiency does not mean ordinary creditors will be paid in full. Open the FTI/DRSF/WSF/SEPI matrix and criminal-first chain →
AssetSUN PARK
C/ Janubio 3
CAM projectLAVA VERDE
279 rooms
Brand / marketCLUB SEI
Meeting Point / FTI
Germany · 2024FTI + Meeting Point
INSOLVENCIES
Las Palmas3 DEBTORS · 357/2024
ARTS. 583+
2025–26PORTOBELLO
BLUESEA
The question is no longer whether Meeting Point appears in the record. It appears documentarily in several distinct layers. The finite question is what contracts, inventory, bookings, communications, invoices, flows and compliance files existed and where they went at each handover of custody and control.

Three legal perimeters. One documentary problem.

The companies must not be merged. The chain must not be fragmented either.

FTI Touristik GmbH, Meeting Point International GmbH, Meeting Point Hotelmanagement Holding GmbH and Meeting Point Spain S.L.U. are distinct legal persons. That boundary is mandatory. The public documents and direct correspondence nevertheless require investigation of commercial and record-custody continuity across the perimeter.

Commercial addressC/ Janubio 3 · Sun Park / Lava Verde / Club Sei
FTI complianceReference 2024-94 · review and investigation route documented
Spanish proceedingThree joint debtors · 357/2024 · arts. 583 et seq.
AcquisitionCNMC C/1549/25 · Portobello / BLUESEA → MPS
Evidential boundary: this chain does not itself establish crime, concealment, record destruction, a completed paid booking, common debt across companies or automatic succession of liability. It does identify a concrete route of documents, institutional knowledge, investigation, restructuring and later control change capable of primary verification.

Before insolvency

The commercial footprint starts at Janubio 3.

Verified
CAM · public project

Hotel Lava Verde

Acosta Matos places Hotel Lava Verde at C/ Janubio 3, describes a four-star tourist-complex rehabilitation, identifies CAM as “Owner” and states 279 rooms. The “Operated by” field is blank.

Corporate source →

Verified
Meeting Point / FTI · brand

Club Sei Lanzarote

In 2019 Meeting Point Hotels, within FTI Group, announced Club Sei Lanzarote as one of the first launches of its new Club Sei brand. Travel Weekly also reported a UK-agent sales route through Youtravel, itself within the FTI ecosystem.

Trade source →

Controlled archive
Joining point

Club Sei at the Sun Park address

The project correction register controls archived evidence of a 27 JAN 2020 sonnenklar.TV capture offering Club Sei Lanzarote at C/ Janubio 3. This is the direct bridge between the Club Sei commercial identity and the Sun Park/Lava Verde location.

Open full Lava Verde → Club Sei dossier →

Adverse control evidence: FTI postponed implementation of the Club Sei concept in October 2020 because of the pandemic. This page therefore does not claim that Club Sei Lanzarote ultimately opened under that brand or that a booking completed or generated revenue without the corresponding transaction record.

Germany · 2024

FTI enters insolvency. Two German Meeting Point companies do too.

The Munich Local Court orders separate each debtor precisely while also showing names and advisers recurring across the perimeter.

Court order
1500 IN 1758/24

FTI Touristik GmbH

Application: 3 JUN 2024.
Opening: 1 SEP 2024.
Administrator: Axel W. Bierbach.
Directors in order: Lars Creutzmann and Karl Markgraf.
Procedural counsel: FINKENHOF Rechtsanwälte.

Official order →

Court order
1500 IN 10126/24

Meeting Point International GmbH

Application received: 21 JUN 2024.
Opening: 1 SEP 2024.
Administrator: Oliver Schartl.
Directors in order: Lars Creutzmann and Karl Markgraf.
Procedural counsel: FINKENHOF Rechtsanwälte.

Official order →

Court order
1500 IN 10107/24

Meeting Point Hotelmanagement Holding GmbH

Provisional process announced: 24 JUN 2024.
Opening: 26 SEP 2024.
Administrator: Oliver Schartl.
Directors in order: Sabine Dorn and Lars Creutzmann.
Procedural counsel: FINKENHOF Rechtsanwälte.

Official order →

The same executive name appears in the FTI Touristik order and both German Meeting Point orders: Lars Creutzmann. That does not establish personal knowledge of every Sun Park fact. It makes the traceability of communications received, capacity held and records requiring preservation materially investigable once the Spanish issue had been raised with the FTI/insolvency perimeter.

Official FTI insolvency portal → MHBK releases →

The evidence-level change

This was not merely a one-way notice. A review and investigation route is documented.

Native correspondence from FTI, MHBK and Rödl fixes an institutional-knowledge chain before the later Spanish 357/2024 restructuring milestones.

FTI Compliance

Acknowledges the report, says it will review the information and requests detail for verification.

2024-94

FTI assigns the compliance reference and holds a video call.

FTI → administrators

Says it reviewed, involved the Chief Governance & Compliance Officer and shared the report with insolvency administrators.

Bierbach → Abegg

Bierbach writes that Georg Abegg was appointed by him to clarify issues concerning Spanish entities.

Rödl · Madrid

Meeting held; ownership material requested so the investigation could continue.

Verified record

What the emails say

  • FTI logged the matter as 2024-94.
  • FTI said it shared the report with its insolvency administrators.
  • FTI said it began discussion with a Spanish law firm commissioned by the administrator.
  • Bierbach personally identified Georg Abegg as a lawyer appointed by him for Spanish-entity clarification.
  • Rödl recorded the 18 July meeting and requested documents to continue the investigation.
Not concluded

What those emails do not say

  • They do not declare the reporting party's criminal allegations substantiated.
  • They do not yet identify the Sun Park ↔ Meeting Point contract.
  • They do not establish exactly which documents each administrator received.
  • They do not establish later destruction, concealment or omission.
  • They do not replace the investigation file or report that still needs to be located.
Law-firm distinction: FINKENHOF is named as procedural counsel for the German debtors in the Munich court orders. Rödl/Georg Abegg/Patricia Ayala appears in the direct correspondence as the Spanish clarification/investigation route identified by FTI compliance and Bierbach. They are different firms and different evidenced roles.

3 JAN 2025 · targeted preservation

The records demand reached the named executive contact point directly.

The native email record preserves an urgent 3 January 2025 message to Lars Creutzmann, copied to Axel Bierbach, FTI compliance, Munich prosecutors and Munich Police K71. Its attachment demanded preservation and production of defined categories concerning Meeting Point in Spain.

01

Financial records

Accounting, payments, invoices, commissions and settlements linked to any Sun Park/Club Sei commercialisation.

02

Operational data

Inventory, allotments, PMS/CRS, channel manager, availability and operational communications.

03

Commercial agreements

Contract, proposal, mandate or instructions between CAM/Sun Park perimeter and the exact Meeting Point/FTI entity.

04

Las Palmas restructuring

Communications and material concerning the Spanish process and preservation of claims and contingencies.

Precision: the email proves transmission, recipient/copy perimeter and the preservation demand. The current search did not locate a substantive incoming MHBK reply specifically to the 3 January notice. Receipt is not published as examination or acceptance.

Las Palmas · distinct proceeding

357/2024: a joint three-debtor negotiation, not the German insolvencies.

Signed Auto 97/2025 identifies Meeting Point Hotelmanagement (Canaries), S.L.U.; Meeting Point Spain, S.L.U.; and Meeting Point Investment, S.L.U. as the three joint applicants/debtors under articles 583 et seq. of the Spanish insolvency law. The Spanish proceeding is a restructuring and potential records-custody node distinct from the German debtors.

  1. 23 JUL 2024

    Joint filing

    Auto 97/2025 records that all three debtors filed the communication of negotiations on this date.

  2. 31 JUL 2024

    Communication deemed made

    The same signed order records a diligence deeming the communication made. The 18 September decree is therefore a later procedural event, not the beginning of 357/2024.

  3. 24 OCT 2024

    Extension of effects

    The Public Insolvency Register attributes the act to Magistrate-Judge Alberto López Villarrubia in the then Commercial Court No. 3. Register attribution does not by itself establish who personally signed the original or prove allocation or substitution.

  4. 23 JAN 2025

    Auren requested

    The same three debtors requested appointment of AUREN REESTRUCTURACIONES SLP as restructuring expert.

  5. 18 FEB 2025

    Auren appointed

    Electronically signed Auto 97/2025, issued by Guillermo Fernández García, appoints Auren for all three debtors.

What did proceeding 357/2024 receive about Sun Park / Lava Verde / Club Sei contracts, litigation, contingencies or records?

Open 357/2024 judicial-traceability dossier →

No transfer of culpability: 357/2024 may be a production and custody route. It is not proof of concealment, restructuring fraud or judicial impropriety. Auto 97/2025 closes the initial-date and Auren-signature gaps; the signed 24 October original and any allocation/substitution explanation remain open.

Public support · separate financing question

SEPI authorised €31 million for the Meeting Point operation—not €56 million.

SEPI's 27 June 2022 release announces €31 million for the group-level Meeting Point operation: a €20.7 million participating loan and a €10.3 million ordinary loan. SEPI's 2023 annual accounts supply the entity allocation: €10.7 million participating to Meeting Point Hotelmanagement (Canaries), €10 million participating to Meeting Point Spain and €10.3 million ordinary to Hotelmanagement. The often-repeated €56 million is the arithmetic total of two separate authorisations—Meeting Point €31 million plus BLUESEA €25 million—not one Meeting Point instrument.

Meeting Point · authorised

€31 million

Annual-account allocation: Hotelmanagement €21 million (€10.7m participating + €10.3m ordinary); Meeting Point Spain €10 million participating.

Partial repayments reported

€3.09m + €5.3m

SEPI later reported partial repayments in 2022 and 2023. Their subtraction from €31 million is not a certified current balance because interest and later movements remain unreconciled.

Separate operation

BLUESEA · €25 million

BLUESEA's separate authorised support was later renounced. It must not be presented as drawn Meeting Point finance or merged into one €56 million Meeting Point loan.

What Sun Park / Club Sei risks, contracts, claims or contingencies—if any—were disclosed in the SEPI, 357/2024, Auren and later transaction files?

Evidence boundary: no present record traces FASEE money into Sun Park or establishes concealment, misuse of public funds or creditor detriment. Source-and-use, conditions, security, repayments, interest, current exposure, monitoring and disclosure remain production questions.

2025–26 · control change

The chain does not end at pre-insolvency. Meeting Point Spain enters the Portobello / BLUESEA transaction.

The CNMC supplies the institutional anchor: case C/1549/25, exclusive-control acquisition. A later buyer-side source closes the general question whether the Labranda/Meeting Point Hotels transaction ultimately completed.

4 APR 2025 · CNMC

Concentration notified

The CNMC records a transaction consisting of the acquisition by Portobello Capital, S.L., through Gestora Blue Sea Partner, S.A., of exclusive control of Meeting Point Spain S.L.U. and its subsidiaries.

23 APR 2025 · CNMC

First-phase authorisation

C/1549/25 is authorised. The report identifies MPS as managing 15 hotel establishments in the Canary Islands.

14 JAN 2026 · buyer

Closing acknowledged

Portobello/BLUESEA states that the Labranda / Meeting Point Hotels transaction had recently closed and added 15 properties in the Canary Islands.

CNMC C/1549/25 → BLUESEA closing acknowledgement →

Closing date: counsel's 25 April 2025 email recorded information suggesting a 9 March LBO closing, but expressly added that official confirmation had not been found. This page therefore does not publish 9 March as a verified legal closing date. It relies on the CNMC record and the later buyer acknowledgement.

Finite documentary pressure

No speculation is required. These records can be produced.

Each category can confirm, reject or narrow the connection. Non-production is not published as destruction; it remains a testable open question.

CAM ↔ Meeting Point/FTI contractContracts, term sheets, side letters, proposals, mandates and approvals.
Club Sei Lanzarote inventoryRoom-unit-finca map, allotments and loaded periods.
PMS / CRS / channel managerAvailability, bookings, cancellations, OTA and tour-operator feeds.
Renders and marketingSource files, approvals, rates, loading instructions and responsible persons.
MoneyInvoices, commissions, settlements, statements, ledgers and revenue recognition.
FTI compliance 2024-94Intake, triage, document index, mandate, interviews, status, findings and closure/transfer.
MHBK / insolvencyData-room, requests, receipt, preservation and transfer of Spanish-entity material.
Rödl / Spanish investigationMandate, requests, notes, status and traceability, subject to applicable privilege/confidentiality.
357/2024 / AurenAnnexes, contingencies, litigation, data requests, report and workpaper index.
SEPI / FASEELoan agreements, conditions, source-and-use, security, monitoring, repayments, interest, current exposure and treatment of Sun Park/Club Sei risks or claims.
Portobello / BLUESEADue-diligence index and historic-record handover relevant to MPS and Club Sei/Lanzarote.
Retention and migrationBackups, migration logs, retention and any documented deletions across handovers.
Exact contracting entityWhich Meeting Point/FTI company, if any, acted opposite CAM/project and in what capacity.

What it proves / what it does not

Maximum pressure requires maximum precision.

Documented
  • Lava Verde, CAM and 279 rooms at Janubio 3.
  • Club Sei Lanzarote inside the Meeting Point/FTI brand launch.
  • Archived commercial presentation of Club Sei at the Sun Park address.
  • FTI Touristik and two German Meeting Point companies in insolvency, with administrators, directors and procedural counsel identified by court.
  • Compliance 2024-94 and a Spanish investigation route expressly described by FTI/Bierbach/Rödl.
  • The 3 January 2025 preservation notice.
  • Three joint debtors, the 23/31 July start and Auren's signed appointment in 357/2024.
  • Meeting Point's €31 million SEPI operation, separately from BLUESEA's €25 million authorisation.
  • CNMC: Portobello/BLUESEA exclusive control of MPS and subsidiaries; later buyer-side acknowledgement of closing.
Still open
  • Who signed the Sun Park/Club Sei contract.
  • Which units could lawfully be offered.
  • Whether bookings completed and revenue arose.
  • What the 2024-94 investigation received and concluded.
  • What records were preserved in each insolvency/restructuring process.
  • What Auren received.
  • SEPI source-and-use, current exposure and any Sun Park/Club Sei disclosure.
  • What entered the Portobello/BLUESEA data room.
  • Whether any record loss, exclusion or omission occurred and, if so, when and by whom.

Control sources

Primary sources first. Inferences separate.

The controlled repository additionally preserves the native FTI compliance / MHBK / Rödl correspondence from June–December 2024, the 2024-94 compliance email chain, the 3 January 2025 notice to Lars Creutzmann and the archived Sun Park / Lava Verde / Club Sei commercial evidence. Allegations contained inside those notices remain allegations unless independently corroborated.

Back to commercial dossier → Go to 357/2024 → Go to 7 JUN 2018 material control →