New Delaware Chapter 15 Filing – Abengoa, S.A.
Christopher Morris, the foreign representative of Abengoa, S.A. (Nasdaq: ABGB), a debtor in a foreign proceeding pending in Spain, and 24 affiliates have filed a chapter 15 petitions before the United States Bankruptcy Court for the District of Delaware (Case No. 16-10754). The cases have been assigned to the Honorable Kevin J. Carey. The company is a leading engineering and clean technology company with operations in more than 50 countries worldwide. The company and its affiliates filed a communication with Commercial Court No. 2 in Seville, Spain for protection under article 5 bis under the Spanish Insolvency Law on November 25, 2015. The company recently announced that it has obtained the necessary approval from certain creditors to restructure its debt and that the chapter 15 filing will be in furtherance of that restructuring. The chapter 15 petition for Abengoa, S.A., the petition for recognition, and an emergency motion for provisional relief are provided. Other documents are available through the Bankruptcy Court’s docket.
Contact Norman L. Pernick, Nicholas J. Brannick, or David W. Giattino for more information.
As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.
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