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Spanish motorway creditors call off liquidation meeting
July 18, 2014 / 5:38 PM / 3 years ago

Spanish motorway creditors call off liquidation meeting

MADRID, July 18 (Reuters) - Creditors of a bankrupt Spanish motorway business delayed a meeting to decide whether to liquidate it on Friday, two sources close to negotiations said, after a request put forward by state lawyers.

“The judge has put off the meeting until the 19th of September,” one of the sources said. The request was made by the counsel for the state, a legal body which represents the interests of the state, the sources said.

The cancellation of the meeting, which could have ended with the government having to stump up around 500 million euros ($676 million) in debt payments, gives Spain more time to find a way to prevent billions of euros of debt from nine failed toll road companies ending up on its books. ($1 = 0.7396 Euros) (Reporting By Sonya Dowsett; Editing by Julien Toyer)

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