Cosmani has become the latest property player in Spain to show signs of distress due to tighter credit conditions and the cooling of the Spanish market after years of growth fuelled by a booming residential demand. Newspaper El Mundo reported on Wednesday that Cosmani, is seeking protection from its creditors as some of the unlisted proeprty company's units are not bringing in enough income to cover monthly payments on the group's debt of EUR 350mln.
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