Portal de Murcia

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The City will invest in infrastructure over 7 million of the guarantee of works that were not implemented (22/06/2015)

The City Council allocated to new infrastructure over 7.5 million euros entered the endorsement of works that failed to execute in El Esparragal.

This was announced today the Councillor for Finance and Trade, Eduardo Martínez-Oliva, who has said that that amount corresponds to the amount already paid by the Bank as guarantor Gallego Martin Fadesa, who later filed bankruptcy and failed to develop the project.

The appeal submitted at the time the bank has been met with a favorable Municipality issued by the Board of Administrative Litigation of the Supreme Court ruling.

The final amount paid by Banco Gallego amounted to 10.3 million euros, increasing the initial amount of the guarantee with interest and penalties.

The judgment confirms "the soundness rigor with which the City Council takes its decisions, guided at all times by a sufficient guarantee," said Martínez-Oliva.

Source: Ayuntamiento de Murcia

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