The president of the Cabildo of Lanzarote, Manuela Armas, has convened an ordinary session of the board of directors of the island water company, Inalsa, to approve the presentation of the voluntary bankruptcy of the public company.
The session will be held at the Punta de los Vientos headquarters on Friday, April 24 at nine in the morning, after the extraordinary session convened for last Friday had to be suspended because the members of the PIL did not receive the notification.
The first item on the agenda will be to report on "the judgment of the Provincial Court of Las Palmas on the arbitration award and its effects and economic effects". Inalsa must pay the UTE Edam Janubio almost 13 million euros.
The second point is the approval of the bankruptcy proceedings to submit the company to judicial intervention. The third matter planned refers to the ratification, acceptance and taking of possession, if applicable, of dismissals and appointments of the board of directors.
According to the Cabildo, "presumably, the assembly of the Water Consortium of Lanzarote will be convened throughout Tuesday for its celebration that same Friday, after the meeting of the council." The Consortium is made up of the seven town councils and the Cabildo, which are the owners of the public company.
Debt
The water company has reached a critical situation, with a debt that could exceed 30 million euros. The two government partners in the Cabildo differ in their way out of this situation. While the PSOE is in favor of the bankruptcy proceedings, the PIL still hopes to be able to close agreements with the main creditors (FCC, Unelco-Endesa and Aguas Filtradas) so as not to reach that situation.
The main opposition party, CC, has announced its support for the measure of reaching a bankruptcy proceedings. On the other hand, some sources indicate that the possibility of increasing capital within the public company is being considered within the pact so that private capital enters, something that has a wide social rejection.
ACN Press
