Abengoa Mexico advances in its viability plan
Abengoa received a new approval allowing the company to continue with the implementation of its business plan, so it continues to progress in in Mexico.
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Mexico: Abengoa, the international company that applies innovative technology solutions for sustainability in the infrastructure, energy and water sectors, continues to progress in its viability plan in Mexico.
After the recent announcement of its debt restructuring, Abengoa Mexico has received a new court approval that allows the company to continue with the implementation of its business plan.
The company has received a favorable verdict to several appeals presented by some creditors against a ruling resulting in the insolvency process of the company (Judgement of Recognition, Graduation and Priority of Credits issued on April 2017).
In addition to the court approval for the debt restructuring, this new legal decision allows the company to bring proceedings in order to ensure liquidity to meet its short and mid-term commitments.
After more than three years of litigation with some creditors, this resolution marks a new milestone in the recovery of the company in Mexico and the implementation of its business plan.
Abengoa has been present in in the country for almost 40 years, developing projects in several sectors: renewable and conventional power, electricity transmission and distribution, oil & gas, water and singular construction.
Source: Abengoa