G\u00f3mez-Acebo & Pombo has advised the Gri\u00f1\u00f3 Group, a leading business group in environmental services and green energy generation, in the process of approval of the restructuring plan of the Azor Group, followed by the Mercantile Court No. 2 of Murcia.<\/h4>\n\n\n\n

After the approval of the Celsa Group’s Restructuring Plan, which G\u00f3mez-Acebo & Pombo also led, this is the second non-consensual plan approved in court that allows creditors to take control of the debtor by capitalising its claims. In this case, the capitalisation is carried out by an industrial group to which the financial creditors have previously agreed to assign their claims against the debtor. The Court’s validation of this formula broadens the range of possibilities offered by the Spanish pre-bankruptcy system to ensure the maintenance of the productive fabric and distressed M&A operations, confirming Spain as a leading country in the restructuring sector.<\/p>\n\n\n\n

Moreover, this case is the first precedent in which the application of the ordinary regime to an SME that forms part of a group obliged to consolidate is analysed. The judicial validation of the thesis upheld by the Gri\u00f1\u00f3 Group will set a milestone in Spanish pre-bankruptcy law, preventing the future articulation of corporate structures that block the judicial approval of non-consensual restructuring plans.<\/p>\n\n\n\n

The GA_P team consisted of Miguel Lamo de Espinosa Abarca, Antonio Ram\u00edrez D\u00edez and Rafael Espinosa Nieto from the Banking team, Rodrigo L\u00f3pez Gonz\u00e1lez, Jos\u00e9 Antonio G\u00f3mez Calafat, In\u00e9s Puig-Samper Naranjo, Blanca Moreno Herrero, Zuri\u00f1e Sanz Chalezquer and Mar\u00eda V\u00e1zquez De las Cuevas, from the Litigation team, as well as by Miguel \u00c1ngel Melero Bowen, V\u00edctor Villaverde Varela and Marta And\u00eda Jim\u00e9nez from the Corporate team and Javier Gazulla Ascoz from the Tax team.<\/p>\n\n\n\n

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