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GA_P advises creditors in the successful court case on Celsa’s restructuring plan
6 of September, 2023
Gómez-Acebo & Pombo has advised and assumed the legal representation of the creditors during the restructuring process of the steel group Celsa.
Following the recent publication of the Judgment handed down by Barcelona Commercial Court 2, which rejects the objections raised by the Group’s shareholders and Kutxabank and approves the restructuring plan, the creditors will be able to capitalise a value of 2,800 million euros of the debt they hold in exchange for 100% of the capital of the Celsa Group.
The importance of the matter is paramount as it is the first non-consensual restructuring process (between creditors and debtor-members) to be successfully processed under the recently reformed Insolvency Law, and it will surely set the path for future restructurings.
The GA_P team that has advised and continues to advise on the process was formed by Miguel Lamo de Espinosa, Rodrigo López, Ferrán Foix, Antonio Ramírez, Álvaro Sáiz, Fernando Artiach, Cecilia Herreros, Ruth Ereño, José Antonio Gómez, Inés Puig, Julio Jiménez, Blanca Moreno, Zuriñe Sanz, Miguel Ángel Melero, Patricia Pérez, Carolina Orri, Irene Fernández Puyol, Juan Ignacio Romero, Miguel Troncoso and Mariana Díaz-Moro.
Following the recent publication of the Judgment handed down by Barcelona Commercial Court 2, which rejects the objections raised by the Group’s shareholders and Kutxabank and approves the restructuring plan, the creditors will be able to capitalise a value of 2,800 million euros of the debt they hold in exchange for 100% of the capital of the Celsa Group.
The importance of the matter is paramount as it is the first non-consensual restructuring process (between creditors and debtor-members) to be successfully processed under the recently reformed Insolvency Law, and it will surely set the path for future restructurings.
The GA_P team that has advised and continues to advise on the process was formed by Miguel Lamo de Espinosa, Rodrigo López, Ferrán Foix, Antonio Ramírez, Álvaro Sáiz, Fernando Artiach, Cecilia Herreros, Ruth Ereño, José Antonio Gómez, Inés Puig, Julio Jiménez, Blanca Moreno, Zuriñe Sanz, Miguel Ángel Melero, Patricia Pérez, Carolina Orri, Irene Fernández Puyol, Juan Ignacio Romero, Miguel Troncoso and Mariana Díaz-Moro.
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Miguel Lamo de Espinosa – Partner
Rodrigo López – Partner
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