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31 May 2012
Frankfurt am Main, Germany
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- Property Debt Breakfast
20 June 2012
London
Spain's Colonial struggles with debt, posts e4bn loss
Spain's struggling property group Inmobiliaria Colonial reported net losses of e3.98bn for 2008, a record for the company and its auditors Deloitte has recorded its doubts about the ability of the company to stay afloat. These results compare with a net profit in 2007 of e74m. In the report sent to Spain's CNMV stock market regulator, Deloitte referred to "uncertainty over ongoing business".