Regional news: Spain

Two new European partners for White & Case

White & Case has bolstered its debt finance and restructuring offerings with new recruits from Herbert Smith Freehills in Madrid and Schalast in Hamburg.

13 September 2022

Kepler-Karst adds partner in Madrid

Spanish insolvency boutique Kepler-Karst has hired a former partner from Martínez-Sanz Abogados, who tells GRR that she expects “great changes” ahead as a result of recent amendments to the Spanish restructuring law.

02 September 2022

Global construction group completes “landmark” pre-pack in Spain

In one of the fastest pre-pack sales since the concept was introduced in Spain two years ago, global construction group Urbas has secured court approval to acquire the production unit of Spanish architecture group Ingeser.

23 August 2022

Angelo Gordon acquires insolvent Spanish hotel chain in pre-pack deal

A Spanish hotel chain founded by a three-time Olympic equestrian has been acquired by US-headquartered investor Angelo Gordon and Canadian hotel manager Westmont Hospitality Group after entering a pre-pack reorganisation in Madrid.

04 August 2022

Abengoa companies enter pre-insolvency after state aid refused

Spanish engineering conglomerate Abengoa has placed a slew of its companies – including the holding entities for the operating parts of the group – into pre-insolvency proceedings, after a failed bid for state aid scuppered its restructuring plan with an American fund.

05 July 2022

Latham, A&O, HSF and Willkie Farr advise on Mediapro refinancing

Advisers from the UK, Spain and Hong Kong have helped Barcelona-headquartered media company Mediapro agree a refinancing deal with a shareholder to strike €500 million from its €900 million debt pile.

21 June 2022

Spanish asset manager wins English scheme sanction

UPDATED: A Madrid-based asset manager linked to US private equity group Cerberus Capital Management has secured sanction of its English scheme of arrangement, with a pre-insolvency process set to follow in Spain to complete its restructuring.

09 June 2022

Spanish asset manager permitted to hold single creditor meeting for English scheme

Madrid-based asset manager Haya Real Estate has received court permission to hold a single class meeting on an English scheme of arrangement, just a month after its noteholders agreed to change an indenture’s New York governing law to English law.

09 May 2022

Latham & Watkins and Linklaters close Spanish ferry operator’s restructuring

Teams from Latham & Watkins, Linklaters and Spanish firm Garrigues have completed the year-long restructuring of Mediterranean ferry group Naviera Armas, implemented by a Spanish scheme in the Canary Islands that was turned around in three weeks.

20 January 2022

New Weil study on corporate distress finds liquidity pressures rising

UK corporates experienced the highest levels of relative distress in Europe during the pandemic, a new study from Weil Gotshal & Manges has found, with liquidity pressures now rising as governments roll back financial stimulus measures.

16 December 2021

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