A U.S. subsidiary of Spanish renewable energy firm Abengoa SA pressed a judge yesterday to approve its plan to exit bankruptcy over objections from a holdout creditor, who said that the plan violated U.S. law by favoring the company's foreign parent, Reuters reported. After more than three hours of testimony and arguments, Bankruptcy Judge Kevin Carey in Wilmington, Del., said he wanted additional written submissions from the parties. He did not say when he would rule. Abeinsa Holding Inc is one of dozens of global Abengoa subsidiaries that filed for chapter 11 and 15 bankruptcy this year while their Seville-based parent thrashed out a debt restructuring deal in Spain to avoid its own bankruptcy. The U.S. subsidiaries, which range from small ethanol plants to construction and engineering firms like Abeinsa, were guarantors of $10 billion of debt held by the parent.
