Madrid: Highway nationalization halted

The Provincial Court of Madrid has just issued a ruling annulling the liquidation dictated on the motorway of Circunvalación de Alicante.

The Ministry of Public Works will no longer have to rescue and keep the eight highways in bankruptcy, or at least not all of them, against the initial plans, which even forced it to assume the first three routes before next July.

The Department that Íñigo de la Serna runs avoided being left with the roads thanks, on the one hand, to judgments of the courts and, on the other, to the fact that the project of new public highway society due to deficit problems has been ruled out.

Thus, on the one hand, the Provincial Court of Madrid has just issued a ruling annulling the liquidation dictated on the motorway of Circunvalación de Alicante, one of which Fomento had to rescue before July, as revealed on Thursday the employers Seopan builders.

It is expected that the same can happen with the other two routes that Fomento should rescue in summer, Madrid radios R-3 and R-5, which are pending an “imminent” similar ruling of the Madrid Court, as indicated to Europe Press in legal sources.

This court is thus pronounced before the appeals filed by the concessionaire company of the motorways (owned by Abertis, ACS and Globalvía) against the liquidation issued by the Commercial Court number 6 of Madrid, which gave Fomento Until July to assume the routes, a term that is now in the air.

However, in addition to the judicial decisions, the government has ruled out the rescue plan it designed in 2014 to rescue the eight failed highways, which contemplated assuming the roads by integrating them into a public society. This plan has been invalidated by “the problems of lace that presented with the objective of deficit,” said also the president of Seopan, Julián Núñez.

Thus, at present, plans to solve the situation of the eight failed highways are to seek “individual solutions” for each of them, through a pact of the concessionaires with the creditors, in 80% ‘vulture funds’ that Bought the debt to the banks. “The increase of traffic that they are registering can help to obtain it”, underlined Núñez.

In this case, Fomento would only have to stay with those routes for which, in the end, a feasibility solution was not agreed.

By Europactual

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