{"id":348833,"date":"2025-05-08T16:19:11","date_gmt":"2025-05-08T14:19:11","guid":{"rendered":"https:\/\/ga-p.com\/?post_type=noticia&#038;p=348833"},"modified":"2026-06-30T18:32:28","modified_gmt":"2026-06-30T16:32:28","slug":"azor-group-restructuring-plan-spain","status":"publish","type":"noticia","link":"https:\/\/ga-p.com\/en\/news\/azor-group-restructuring-plan-spain\/","title":{"rendered":"GA_P advises Gri\u00f1\u00f3 Group on the approval of the Azor Group restructuring plan"},"content":{"rendered":"<div id=\"ColumnaMasSidebar-block_14c6342ed3bf731bebf41da12a953ab2\" class=\"ColumnaMasSidebar v1\">\n    <div class=\"container\">\n                <div class=\"hero-inner-blocks\">\n<div id=\"ColumnaIzquierda-block_027097c69804a1d45f829ba390369552\" class=\"blanco ColumnaIzquierda\">\n    <div class=\"acf-innerblocks-container\">\n\n<h4 class=\"wp-block-heading\">G\u00f3mez-Acebo &amp; Pombo has advised the Gri\u00f1\u00f3 Group on the approval of the Azor Group restructuring plan. Gri\u00f1\u00f3 Group is a leading business group in environmental services and green energy generation. The process was heard by Commercial Court No. 2 of Murcia.<\/h4>\n\n\n\n<h2 class=\"wp-block-heading\"><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Following the approval of the Celsa Group restructuring plan, also led by G\u00f3mez-Acebo &amp; Pombo, this is the second non-consensual plan approved by a Spanish court. It allows creditors to take control of the debtor by capitalising their claims.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In this case, the capitalisation is carried out by an industrial group. The financial creditors had previously agreed to assign their claims against the debtor to that group. The court\u2019s validation of this formula broadens the possibilities offered by the Spanish pre-insolvency system. It also supports the preservation of the productive fabric and distressed M&amp;A transactions. As a result, the Azor Group restructuring plan confirms Spain\u2019s position as a leading jurisdiction in the restructuring sector.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Moreover, this case is the first precedent in which the application of the ordinary regime to an SME forming part of a group required to consolidate has been analysed. The judicial validation of the position defended by the Gri\u00f1\u00f3 Group will set an important milestone in Spanish pre-insolvency law. It may also prevent the future use of corporate structures designed to block the court approval of non-consensual restructuring plans.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">A milestone for Spanish pre-insolvency law<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The GA_P team was made up 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; 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<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Deal Alert | Caso Gri\u00f1\u00f3\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/me3DNEVjx58?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<div id=\"Boton-block_931685ffe5ad50442c71ea2f2c98ed7d\" class=\"Boton\">\n\n            <a class=\"primaryCta scaleFromLeft rotateIcon\" href=\"https:\/\/www.expansion.com\/empresas\/2025\/05\/08\/681b7f8be5fdeaad158b458a.html\" target=\"_blank\"><span>Read more<\/span>\n                        <div class=\"containerImg\"><img decoding=\"async\" alt=\"icon\" src=\"https:\/\/ga-p.com\/wp-content\/themes\/ga-p\/assets\/images\/external-icon.svg\" \/><\/div><\/a>\n            <\/div>\n\n<\/div>\n<\/div>\n\n\n<div id=\"ColumnaSidebar-block_0b18db59a4e29d760084661be5e48cf1\" class=\"blanco ColumnaSidebar\">\n    <div class=\"acf-innerblocks-container\">\n\n\n<div id=\"NoticiaPublicacionInformacion-block_8caa3067d3db94ff3f8f9e60fedbee4d\" class=\"NoticiaPublicacionInformacion\">\n\n    <div class=\"personal_office\">\n        <div class=\"personal\">\n\n            \n                            <div class=\"abogados\">\n                    <div class=\"titleCategoria\">Lawyer mentioned<\/div>\n                    <div class=\"out itemCont\">\n                                                                                    <p class=\"item\">\n                                    <span class=\"rectangleBlu\"> <\/span>\n                                                                        <a href=\"https:\/\/ga-p.com\/en\/person\/miguel-lamo-de-espinosa\/\" class=\"nameAuthor\">Miguel Lamo de Espinosa<\/a>\n                                                                        <span class=\"charge\"> &#8211; Partner<\/span>\n                                <\/p>\n                                                                                                                <p class=\"item\">\n                                    <span class=\"rectangleBlu\"> <\/span>\n                                                                        <a href=\"https:\/\/ga-p.com\/en\/person\/antonio-ramirez\/\" class=\"nameAuthor\">Antonio Rami\u0301rez<\/a>\n                                                                        <span class=\"charge\"> &#8211; Partner<\/span>\n                                <\/p>\n                                                                        <\/div>\n                                            <div class=\"inner itemCont\" style=\"display: none;\">\n                                                                                                <p class=\"item\">\n                                        <span class=\"rectangleBlu\"> <\/span>\n                                                                               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                      <span class=\"rectangleBlu\"> <\/span>\n                                                                                <a href=\"https:\/\/ga-p.com\/en\/person\/jose-antonio-gomez-calafat\/\" class=\"nameAuthor\">Jose\u0301 Antonio Go\u0301mez Calafat<\/a>\n                                                                                <span class=\"charge\"> &#8211; Counsel<\/span>\n                                    <\/p>\n                                                                                                                                <p class=\"item\">\n                                        <span class=\"rectangleBlu\"> <\/span>\n                                                                                <a href=\"https:\/\/ga-p.com\/en\/person\/ines-puig-samper\/\" class=\"nameAuthor\">In\u00e9s Puig-Samper<\/a>\n                                                                                <span class=\"charge\"> &#8211; Senior associate<\/span>\n                                    <\/p>\n                                                                                                                                <p class=\"item\">\n                                        <span class=\"rectangleBlu\"> <\/span>\n                                                                                <a href=\"https:\/\/ga-p.com\/en\/person\/blanca-moreno\/\" class=\"nameAuthor\">Blanca Moreno<\/a>\n                                                                                <span class=\"charge\"> &#8211; Senior associate<\/span>\n                                    <\/p>\n                                                                                                                                <p class=\"item\">\n                                        <span class=\"rectangleBlu\"> <\/span>\n                                                                                <span class=\"nameAuthor text-decoration-none\">Zuri\u00f1e Sanz<\/span>\n                                                                                <span class=\"charge\"> &#8211; Associate<\/span>\n                                    <\/p>\n                                                                                    <\/div>\n                        <div class=\"primaryCta showMoreTrigger\">See all lawyers<img decoding=\"async\" alt=\"icon\" src=\"https:\/\/ga-p.com\/wp-content\/themes\/ga-p\/assets\/images\/arrow-down-flu-color.svg\" \/><\/div>\n                        <div class=\"d-none primaryCta showLessTrigger\">See less lawyers<img decoding=\"async\" alt=\"icon\" src=\"https:\/\/ga-p.com\/wp-content\/themes\/ga-p\/assets\/images\/arrow-down-flu-color.svg\" \/><\/div>\n                                    <\/div>\n            \n                        <div class=\"categorias\">\n                <div class=\"titleCategoria\">Category<\/div>\n                                    <p 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             <p class=\"item\">\n                        <span class=\"rectangleBlu\"> <\/span>\n                        <a href=\"https:\/\/ga-p.com\/en\/area\/corporate-and-m-a\/\" class=\"nameAuthor\">Corporate and M&amp;A<\/a>\n                    <\/p>\n                                        <p class=\"item\">\n                        <span class=\"rectangleBlu\"> <\/span>\n                        <a href=\"https:\/\/ga-p.com\/en\/area\/tax\/\" class=\"nameAuthor\">Tax<\/a>\n                    <\/p>\n                                        <p class=\"item\">\n                        <span class=\"rectangleBlu\"> <\/span>\n                        <a href=\"https:\/\/ga-p.com\/en\/area\/restructuring-and-special-situations\/\" class=\"nameAuthor\">Restructuring and Special Situations<\/a>\n                    <\/p>\n                                                                <\/div>\n                <\/div>\n<\/div>\n\n<\/div>\n<\/div>\n\n<\/div>\n\n    <\/div>\n\n<\/div>\n\n\n<div id=\"ColumnaMasSidebar-block_14c6342ed3bf731bebf41da12a953ab2\" class=\"ColumnaMasSidebar v1\">\n    <div class=\"container\">\n                <div class=\"hero-inner-blocks\">\n<div id=\"ColumnaIzquierda-block_027097c69804a1d45f829ba390369552\" class=\"blanco ColumnaIzquierda\">\n    <div class=\"acf-innerblocks-container\">\n\n<div id=\"AnteriorSiguiente-block_db32d590e2a4346fb4a668b1868e15cb\" class=\"AnteriorSiguiente\">\n\n\n            <div class=\"containerButtons\">\n            <a class=\"primaryCta prev \" href=\"https:\/\/ga-p.com\/en\/news\/ga_p-advises-vgo-on-the-acquisition-of-a-stake-in-homs-rentals\/\" target=\"_self\" title=\"prev post\">See previous                <img decoding=\"async\" alt=\"icon\" src=\"https:\/\/ga-p.com\/wp-content\/themes\/ga-p\/assets\/images\/arrow-left-primary.svg\" \/>\n            <\/a>\n            <a class=\"primaryCta next \" href=\"https:\/\/ga-p.com\/en\/news\/the-litigation-and-arbitration-team-discusses-about-the-appropiate-means-of-dispute-resolution-and-the-new-collective-action-law-el-confidencial\/\" target=\"_self\" title=\"next post\">See next                <img decoding=\"async\" alt=\"icon\" src=\"https:\/\/ga-p.com\/wp-content\/themes\/ga-p\/assets\/images\/arrow-right-primary.svg\" \/>\n            <\/a>\n        <\/div>\n    <\/div>\n<\/div>\n<\/div>\n\n<\/div>\n\n    <\/div>\n\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>G\u00f3mez-Acebo &#038; 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.<\/p>\n","protected":false},"featured_media":0,"template":"","categoria":[117],"class_list":["post-348833","noticia","type-noticia","status-publish","hentry","categoria-deal-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Azor Group restructuring plan<\/title>\n<meta name=\"description\" content=\"GA_P advises Gri\u00f1\u00f3 Group on the Azor Group restructuring plan, Spain\u2019s second non-consensual restructuring approved in court.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ga-p.com\/en\/news\/azor-group-restructuring-plan-spain\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Azor Group restructuring plan\" \/>\n<meta property=\"og:description\" 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