Eurofinsa seeks seizure of Gabon payments held by BNY Mellon to enforce arbitration award

Spanish construction firm Eurofinsa, bankrupt with liabilities over €300M, is attempting to enforce an arbitration award against Gabon for breach of a stadium construction contract by requesting seizure of Gabon's payments held by BNY Mellon. This marks a legal escalation in a sovereign debt dispute, potentially setting a precedent for creditors seeking to attach state assets held by financial intermediaries. The outcome is uncertain and could impact Gabon's financial operations and international borrowing.

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