On Closer Inspection, Debt of Bankrupt Spanish Construction Firm Grows Four-Fold

On Closer Inspection, Debt of Bankrupt Spanish Construction Firm Grows Four-Fold by Don Quijones • Feb 17, 2018 • 26 Comments What happens if cases like this prove to be the rule rather than the exception? By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. ---------------------------------------------------------------------------------------------------- On Closer Inspection, Debt of Bankrupt Spanish Construction Firm Grows Four-Fold by Don Quijones • Feb 17, 2018 • 26 Comments What happens if cases like this prove to be the rule rather than the exception? By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. Spain appears to have a brand-new Abengoa — the imploded energy giant whose fabulous accounting tricks pushed creditors into a black hole — on its hands: Isolux was until recently a fairly large privately owned infrastructure company with operations spanning the globe. When the group declared bankruptcy last July, its cash flow in Spain was barely enough to cover a month’s operating costs. The group had a a total workforce of 3,884 and 119 infrastructure projects under development of which 39 were still operational and the remaining 90 had been halted.---------READ more:https://wolfstreet.com/2018/02/17/on-closer-inspection-debt-of-bankrupt-spanish-construction-firm-grows-four-fold/