Spain

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Abengoa Reaches Creditor Agreement in Bid to Fend Off Insolvency

Abengoa SA won agreement from major creditors for a rescue plan, potentially averting Spain’s largest corporate insolvency, Bloomberg News reported. Investors including Elliott Management Corp., Centerbridge Partners LP and Varde Partners LP will provide ...

Daily Headline - global.abi.org - 08/11/2016 - 21:45 - 0 comments

Eurozone Sets Out New Fiscal Targets for Spain and Portugal

agreed with the European Commission’s arguments about dropping the fines, which, at 0.2% of gross ... amounting to 0.25% of GDP this year, with all windfall gains from one-off measures used to accelerate ...

Daily Headline - global.abi.org - 08/09/2016 - 22:35 - 0 comments

Isolux Creditors Agree $2.2 Billion Debt-Restructuring Deal

Grupo Isolux Corsan SA won creditor approval for a 2 billion-euro ($2.2 billion) debt-restructuring plan, paving the way for a Spanish court to authorize the program, Bloomberg News reported. The engineering company received backing from almost 90 percen ...

Daily Headline - global.abi.org - 07/28/2016 - 23:06 - 0 comments

Santander Profit Down on Restructuring and Bank Fund Charges

Banco Santander of Spain said on Wednesday that its profit declined by nearly half in the second quarter on restructuring charges and a contribution to a fund to help finance bank “bail-ins” in Europe, the International New York Times reported. For t ...

Daily Headline - global.abi.org - 07/27/2016 - 22:04 - 0 comments

Europe Decides Against Fines for Spain and Portugal

European Union officials, facing the rise of populist movements across the region, opted against hitting Spain and Portugal with sanctions on Wednesday for breaking the bloc’s rules on government spending, the International New York Times reported. T ...

Daily Headline - global.abi.org - 07/27/2016 - 22:06 - 0 comments

Spain Set For Corporate Tax Rise As Madrid Tackles Deficit

The private sector in Spain is set to shoulder most of the burden as the government moves to bring its wayward deficit into line, after the economy minister unveiled plans to raise an extra €6bn in corporate taxes next year, the Financial Times repor ...

Daily Headline - global.abi.org - 07/12/2016 - 23:34 - 0 comments

Eurozone Slams Spain, Portugal On Excessive Deficits

Eurozone finance ministers agreed on Monday (Jul 11) to officially declare Spain and Portugal in breach of the EU public spending rules, a key step to possibly imposing unprecedented penalties against members of the currency bloc, Channel News Asia repor ...

Daily Headline - global.abi.org - 07/11/2016 - 21:12 - 0 comments

EU Executive Rules Spain, Portugal Didn’t Do Enough to Curb Budget Deficits

The European Commission said Thursday that Spain and Portugal didn’t take sufficient measures to bring their 2015 budget deficits within European Union limits, triggering a process which could eventually lead to financial sanctions, The Wall Street Jou ...

Daily Headline - global.abi.org - 07/07/2016 - 23:05 - 0 comments

Brussels Set To Fine Spain And Portugal For Deficit Breaches

Spain and Portugal are on course to become the first ever eurozone countries to be sanctioned for breaching EU fiscal rules, in a move set to inflame political tensions over how dogmatic Brussels should be in policing national budgets, the Financial Ti ...

Daily Headline - global.abi.org - 07/05/2016 - 23:03 - 0 comments

Court Approval of Refinancing Agreements in Spain

The 4th Additional Provision of Law 22/2003 of July 9, on Spanish Insolvency (the “Insolvency Law”) regulates one of the main pre- insolvency instruments existing in Spanish law: court approval of refinancing agreements between a debtor company and its c ...

Resource Article - twallace@abiwor... - 06/28/2016 - 16:38 - 0 comments - 1 attachment

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