Banc Sabadell | The Supreme Court has rejected Santa Bárbara’s request for interim measures to freeze €3 billion in government loans at 0% interest to pre-finance the wheeled and tracked artillery programmes awarded to two joint ventures (JVs) established by Indra (IDR) and EM&E.
Santa Bárbara filed an administrative appeal against this state pre-financing at the end of last year. Despite the rejection of the interim measures, the proceedings before the Supreme Court will continue, given that the court has not ruled on the merits of the case and has not prejudged the appeal.
We recall that last week, the Ministry of Defence dismissed the appeal lodged by Santa Bárbara against the award of the artillery programmes. Santa Bárbara has already confirmed that, once the administrative remedies against the award of the two contracts have been exhausted, it intends to take its claims to the National High Court.
Assessment: Positive news. However, the process remains open despite the limited impact this news is having on the stock market.
