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Reyal Urbis €3.8 billion insolvency

1/11/2016
Insolvency proceedings
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€ 3.8 billion

$ 4.018 billion

Announced

1/11/2016

Overview:

  • Reyal Urbis €3.8 billion insolvency.
  • The Spanish real estate company filed for insolvency in 2013, after three refinancings, with around €3.8 billion of debt.
  • In 2015 the company was given a deadline by the Madrid Commercial Court of March 13 to find a solution with its creditors or face liquidation.
  • After a proposal was rejected in September 2016, in November 2016 the company undertook an appeal to the Madrid Provincial Court.
  • SAREB, the Spanish bad bank, is one of the company's major creditors, along with Banco Santander, Barclays and RBS.

Sam Duke - Editor

Jurisdiction:

Spain

Deal type:

Insolvency proceedings

Practice area:

Restructuring and insolvency

Governing law:

Spain

Industry sector:

Real estate

Firms:
Allen & Overy

Party: SAREB (Creditor)

Ashurst

Party: Barclays (Creditor)

Party: Centrebridge Partners (Creditor)

Lawyer: Jorge Vázquez

Cuatrecasas

Party: Caixa - Banco de Investimento (Creditor)

Lawyer: Fedra Valencia

Freshfields Bruckhaus Deringer

Party: Reyal Urbis (Debtor, Insolvent entity)

Lawyer: Iñaki Gabilondo

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