The already distressed players building the I-69 highway P3 project in Indiana were scrambling in late March to reduce their exposure to the possible insolvency of Spanish concessionaire Grupo Isolux Corsán SA after its last-ditch bank loan fell apart in Madrid. Isolux now is 94.5% owned by its banks. Under Spanish law they have four months to reach an agreement with creditors to avoid a full-blown insolvency process. There is concern that the banks might win a stay of Isolux’s U.S. claims until larger issues are settled.
Download Sample Issue
PWF Subscription Options
- Public Works Financing - Enterprise-wide Corporate Subscription From: $450.00 / month with 1 month free trial
- Public Works Financing - Individual Corporate Subscription From: $120.00 / month with 1 month free trial
- Public Works Financing - Government or Non-profit Subscription $60.00 / month with 1 month free trial