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    Spanish property giant collapses

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    euronews (in English)

    by euronews (in English)

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    The bursting of Spain's property bubble has claimed another victim with developer Reyal Urbis filing for insolvency.

    That comes after it failed to renegotiate its more than three and a half billion euros of debt with its creditors. They include Santander, BBVA, Bankia and Banco Popula.

    The insolvency petition now goes to court and a judge will decide its fate.

    ...
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