Excessive debt, a prolonged crisis and an ailing financial sector have pushed many Spanish companies to their breaking point, and vulture funds are circling. Their main strategy is to buy corporate debt from the banks, including the Sareb tool.
These funds want to maximize profits, but they need the banks that own corporate debt to cooperate. The issue is that companies have weak leadership and cannot decide on their future. Codere, Panrico and La Seda have been eaten up by vulture funds, and while this is happening through a legal process, the effects on our industrial economy are devastating.
