Spain's Top Court Dismisses Appeals Against Ohla Over Motorway Case
Obrascón Huarte Lain (OHLA.MC), or Ohla, said Thursday that Spain's Supreme Court fully dismissed appeals brought by several securitization funds over cost overruns on the construction of the M-12 motorway leading to Adolfo Suárez Madrid-Barajas airport. The complainants sought a court declaration that the Spanish infrastructure group had breached its contractual obligations, along with a payment of 212 million euros to Aeropistas plus 71 million euros in default interest. The Provincial Court of Madrid had already dismissed the claims at first and second instance. Following the decision, the securitization funds were ordered to cover the procedural costs of the appeals, while Ohla is not required to make any payment.
Obrascón Huarte Lain (OHLA.MC), or Ohla, said Thursday that Spain's Supreme Court fully dismissed appeals brought by several securitization funds over cost overruns on the construction of the M-12 motorway leading to Adolfo Suárez Madrid-Barajas airport.
The complainants sought a court declaration that the Spanish infrastructure group had breached its contractual obligations, along with a payment of 212 million euros to Aeropistas plus 71 million euros in default interest.
The Provincial Court of Madrid had already dismissed the claims at first and second instance.
Following the decision, the securitization funds were ordered to cover the procedural costs of the appeals, while Ohla is not required to make any payment.