OHLA - comment

The Spanish Supreme Court’s ruling in favour of OHLA on the M12 highway leading to Madrid’s airport is a major win for the company. Far from the biggest litigation it is facing, it is nonetheless a €283m contingent liability that OHLA has been exonerated of. The €212m claim (plus accrued interest) related to a support agreement signed in 2003 (old sin) in favour of Aeropistas. Following the insolvency of the highway, Aeropistas argued that OHLA should shoulder its cost overruns in the original construction. OHL still has many more and significantly larger claims outstanding, notably the Sidra claim from the Qatar Foundation.