Tuesday, July 15, 2008

Spanish property group folds….

Martinsa Fadesa to file for administration

Spanish property group Martinsa Fadesa on Tuesday filed for creditor protection with debts of more than €5bn, adding impetus to a stock market sell-off and forcing banks to announce an initial €350m in writedowns related to the company.

Posted by whostolemyendowment @ 04:39 PM (527 views)
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