Luis Herrera luxury assets to be auctioned in Rosario

Judicial authorities in Rosario, Argentina, have ordered the auction of luxury assets seized from financier Luis Herrera to repay creditors following his bankruptcy. The auction, overseen by Judge Nicolás Avellaneda of the 4th Civil and Commercial District Court, is intended to benefit nearly 700 recognized creditors.

The auction lot includes six high-end vehicles and a recreational vessel. The primary items include a 1996 Porsche 911 Turbo 993 with a base price of USD 300,000, a 1995 Oceanis 321 sailboat with a base of USD 85,000, and a 2018 Audi RS3 Sportback valued at USD 70,000. Other vehicles up for sale include a Jaguar XJR8, a Nissan 370Z, a Volvo XC60, and a BMW 120 D.

If all items sell at their base prices, the bankruptcy estate will collect approximately 811.5 million pesos. This process is part of the bankruptcy proceedings and is distinct from the ongoing criminal investigation regarding alleged mass fraud. Herrera remains in preventive detention alongside his two sons.