Izar (Seville)

IZAR CONSTRUCCIONES NAVALES, S.A. SME EN LIQUIDACIÓN is a state-owned enterprise entirely owned by the Sociedad Estatal de Participaciones Industriales (SEPI). Acting under the powers granted by Article 70 of the then-active Corporate Statutes and according to the Royal Legislative Decree 1564/1989 of December 22, which approves the consolidated text of the Corporations Law, the dissolution of the company was decreed on April 1, 2005, by the sole shareholder with prior authorization from the Council of Ministers. Consequently, the company has been in the process of liquidation since that date and has been known as “IZAR CONSTRUCCIONES NAVALES, SA SME, EN LIQUIDACIÓN”.

As of 2014, the state corporation COFIVACASA SA SME, identified by tax identification number A28074342, has been appointed to preside over the Liquidation Commission. This entity plays a pivotal role in the final liquidation efforts of the company.

The selection of the liquidator adheres to the stipulations set out in article 114.2 of Law 40/2015, dated October 1, on the Legal Regime of the Public Sector. This law specifies that the liquidation process of a state-owned commercial entity shall be managed by either a body of the General State Administration or an entity within the state institutional public sector.

The shareholder is committed to ensuring that the liquidation process is conducted in an orderly fashion. This involves the fulfillment of all ongoing contracts, addressing contracts pending initiation, settling liabilities, and collecting payments owed to the company as part of its assets.