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Albacete could file bankruptcy
Spain - 26 February, 2007
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Spanish Albacete will tell shareholders it has a debt of EUR 13 million and that it is looking for ways to avoid filing bankruptcy when it meets on 13 March, according to news agency EFE.
The debts are for the period ending 30 June 2006 but have increased since that time into the current season.
That amount does not take into account a loan from the Professional Football League, which was recorded as income rather than debt, of over EUR 1 million after the club was relegated to the Segunda Division.
The debts are for the period ending 30 June 2006 but have increased since that time into the current season.
That amount does not take into account a loan from the Professional Football League, which was recorded as income rather than debt, of over EUR 1 million after the club was relegated to the Segunda Division.
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