Justice once more helps Iberdrola and confirms the conviction of ACS for unfair competitors | EUROtoday

The Provincial Court of Madrid has rejected the attraction ACS in opposition to conviction for unfair competitors contra Iberdrola imposed final 12 months in one of many pulses of each firms by the Villarejo case.

The occasions date again to February 2021, when, just a few days after the power firm revealed its monetary outcomes, the development firm introduced by way of a media outlet that ready a requirement for two.6 billion euros in opposition to the electrical firm if it was lastly charged for its alleged relationship with the previous commissioner.

The Provincial Court supported the criterion of Commercial Court quantity 4 of Madrid, which in April 2022 had dominated that it was a “denigrating act” in opposition to Iberdrola with the intention of harming the corporate.

Iberdrola contributed an skilled opinion to the case by which it indicated that the quantity was equal to 72% of the corporate's internet revenue, which was of ample magnitude to “generate uncertainty in the market”. Furthermore, the corporate chaired by Ignacio Sánchez Galón argued that the information had leaked in days of larger scrutiny on power because of the immediacy of the presentation of the monetary outcomes with the intention of harming the value, which, in reality, fell that day.

Along the identical strains, the courtroom additionally dismissed the attraction, contemplating that ACS's assertion assuring that it was not engaged on the lawsuit couldn’t be equated to a denial on the a part of the development firm.

STRONG RIVALRY

Both firms keep a protracted battle between them, personified within the figures of their presidents: Sánchez Galn himself and Florentino Pérez. In the context of the case Tandem, The president of Iberdrola and the renewables subsidiary have been charged with alleged espionage in opposition to enterprise rivals equivalent to Prez himself, however the case was archived after the statute of limitations had expired.

After this file, Iberdrola filed a lawsuit to assert nearly 73 million euros in damages from Pérez for the damages derived from this accusation.