The Commercial Court of Seville announced an order this Friday, ordering the opening of the court. liquidation phase of the parent company of the group According to forensic sources, Abengoa has not offered any settlement proposals before the deadline.
Creditors of Abengoa SA had until Thursday to submit their settlement offer, When the bankruptcy suspension ordered due to the Covid-19 crisis endsdespite requesting a postponement from the judge who decided the liquidation phase this Friday.
This assumes termination of businessbankruptcy and dismissal of existing managers and replacement by bankruptcy administration.
Legal sources tell Efe that the president of Abengoa, Clement Fernandezwill appeal the decision adopted by the presiding judge.
This process In line with the pre-bankruptcy situation of creditors, the board of directors of Abenewco 1, the operating subsidiary of AbengoaApplied for 27 companies, including Abenewco 1 itself, the €249m bailout request was rejected by the Solvency Support Fund for Strategic Companies managed by the State Industry Participation Company (Sepi).
Before bankruptcy gives these companies the opportunity to spend four months without guarantees to find ways to prevent them from going bankrupt eventually.
Source: Informacion
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