A federal bankruptcy court judge in Wilmington, Del. granted Abengoa, S.A., the troubled Spanish renewable energy contractor and engineer, protection under U.S. bankruptcy law from its U.S. creditors, making it less likely that sureties will be able to enforce their own claims against the company for funds spent to complete unfinished projects that may total $200 million.
The April 27 ruling makes it less likely the sureties can easily collect under the indemnity agreements associated with the bonds.