company which manages Jerez racing track, Cirjesa, has decided to apply for bankruptcy protection
The managing company has debts from the redesign of the track nine years ago
The company which manages Jerez racing track, Cirjesa, has decided to apply for bankruptcy protection as a way of gaining time for the re-negotiation of their debt which has been put at 18 million €.
Most of the money is owed to FCC and Serviobras, the companies which carried out a new design of the track nine years ago. It comes after Cirjesa failed to pay the annual payment for 2010 of 2.5 million € agreed with Jerez Ayuntamiento and the Junta de Andalucía.
The law allows three months for the talks and then a further month to liquidate if no agreement is reached.
It comes just a week ahead of the Spanish Motorbike GP which is to be held at the track next weekend.
Share story
0 comments:
Post a Comment