GA_P advises the ad hoc group of creditors in the restructuring of Grupo Codere

Gómez-Acebo & Pombo has advised on Spanish law matters to the ad hoc group of creditors in the restructuring of the Grupo Codere.

The restructuring, advised by Gómez-Acebo & Pombo’s Restructuring and Special Situations Team, has had the majority support of the creditors, has been structured through a recapitalisation that has allowed the reduction of the Group’s existing debt by more than €1.2 billion and the issuance of new instruments with which to provide the Group with additional financing.

It has also included the judicial approval of a restructuring plan presented by the Group, which has provided the restructuring with the protections provided for in the Insolvency Law.

The GA_P team was formed by Ferran Foix, Álvaro Sáinz and Irene Media for Finance and Capital Markets, Rodrigo González and Julio Jiménez for Insolvency and Litigation, and Mariana Diaz-Moro for Tax.