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Spanish court freezes assets of two former Abengoa executives
January 20, 2016 / 5:11 PM / 2 years ago

Spanish court freezes assets of two former Abengoa executives

MADRID, Jan 20 (Reuters) - Spain’s High Court on Wednesday ordered assets belonging to two former high-level managers at troubled engineering and power company Abengoa to be frozen, after they failed to deposit millions of euros in bonds with the court.

The High Court is investigating allegations of mismanagement against ex-Chairman Felipe Benjumea and former Chief Executive Manuel Sanchez, and had demanded they deposit a total of 16 million euros between them to cover possible liabilities.

According to court rulings seen by Reuters, the High Court has banned Benjumea and Sanchez from selling several luxury cars and properties listed as belonging to them, and ordered several bank accounts in their name to be blocked. (Reporting by Sarah White, Editing by Emma Pinedo)

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