Martinsa-Fadesa Romanian project still unaffected - Azi

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Spanish construction and real estate development group Martinsa-Fadesa, which operates on the Romanian market, has become the first Spanish publicly listed company forced to seek bankruptcy protection after failing to get a loan to refinance debt.

The firm has an ongoing one billion-euro project in Stefanestii de Jos, close to Bucharest. So the question is: what will happen next? The group was unable to get a 150 million-euro loan, which it needed for cash and the continued normal development...

Read the whole story in: Ziarul Financiar