A New Legal Obstacle
The European courts continue to undermine the credibility of the Spanish State. It has recently become known that Spain will face a new seizure of assets, which involves a considerable amount of 83.7 million euros. This embargo is the result of the failure to make certain investments in renewable energy, as set out in the Energy Charter Treaty. This episode adds to a previous one, since on July 10, the Belgian authorities had ordered the seizure of a bank account of Enaire, Aena’s main shareholder, valued at 32 million euros.
Seizure Details
It is worth mentioning that Enaire receives monthly payments from Eurocontrol, the entity in charge of managing and coordinating air traffic in Europe. However, Eurocontrol, after complying with the Belgian court decision, reported that the total amount that could be seized was not the one initially mentioned, but was instead at 83.7 million euros. Of this sum, 79.9 million correspond to the payments that Enaire must receive since last June.
The Future of the Enaire Account
The companies that have sued the State indicate that Enaire’s bank account will remain frozen until a solution is found. This implies that future payments scheduled for Enaire will also be blocked until a definitive resolution of the existing dispute between the affected companies and the government. The complainants comment that the decision of the Belgian court to seize the entire deposit is due to the fact that it allows other investors who have also suffered non-payments in Spain to join these legal actions, thus achieving that multiple creditors can claim their debts through this protection mechanism.
Resolution Initiative
Despite the embargoes, it is relevant to highlight that the affected companies have presented the Spanish government with a