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Dismissed the demand of the financing funds of radials 3 and 5 of Madrid against Abertis, Sacyr and ACS

To those who requested a joint payment of more than 700 million euros.

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Dismissed the demand of the financing funds of radials 3 and 5 of Madrid against Abertis, Sacyr and ACS

To those who requested a joint payment of more than 700 million euros

MADRID, 14 Nov. (EUROPA PRESS) -

The Court of First Instance number 13 of Madrid has dismissed in its entirety the lawsuit filed by Kommunalkdredit Austria, AG and other funds that make up the syndicate that finances radio stations 3 and 5 in Madrid (Concessionaire Accesos de Madrid) against Abertis, Sacyr and ACS to whom he requested a joint payment of more than 700 million euros.

The plaintiffs alleged a breach of the fund commitments to Alazor Inversiones provided for in clauses 2.3 and 2.9 of the support contract.

Following the line of other judgments, the judge of First Instance considers that the support contract is not a guarantee contract, but a commitment of the shareholders under certain very specific contingencies and that clause 2, in general, is not considered as a simple obligation of unilateral payment by the shareholders, according to the text of the sentence, to which Europa Press had access.

In this sense, on the one hand, it considers that clause 2.3 provided that the possibility of an increase in liquidity during the term of the concession is incompatible with the bankruptcy situation of Alazor Inversiones and, therefore, the request for payment.

On the other hand, it considers that the enforceability of clause 2.9 regarding the contingency of expropriations does not apply either, taking into account that the resolution of the concession has led to the existence of an administrative dispute in order to declare the patrimonial responsibility of the Administration (RPA ) against the concessionaires for underestimating the cost of the expropriations.

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