A court in Seville initiates the liquidation process of Abengoa

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

Popular

More from author

Armenia banned Vladimir Solovyov’s programs from being broadcast on its territory 09:48

Armenia has banned journalist Vladimir Solovyov's original programs from being broadcast in the country, citing "violations" recorded by the Armenian Television and Radio Commission....

Japan allows foreigners to work in four more fields 09:56

The Japanese government allowed the use of experts from other countries in four more areas of the economy. Foreigners can now work in...

A woman in the Tyumen region was fined for leaving offensive writings on the ballot paper 09:58

A resident of the Tula region was fined for discrediting the Russian Armed Forces. In this respect reports Press service of the courts...

LPR reports an increase in the variety of drones used by the Armed Forces of Ukraine 09:58

The diversity of unmanned aerial vehicles and ground-based unmanned aerial vehicles used by the Armed Forces of Ukraine (AFU) has increased in the Svatovsk-Kremensky...