Urbas asks the judge to approve its payment plan with creditors' support
The construction company asks the judge to approve the agreement after adding support that represents 61% of the ordinary debt of 89 million euros.
Urbas, a construction company, has asked a Madrid court to approve a debt agreement after securing support from creditors representing 61% of its €89 million ordinary debt. The company, led by Juan Antonio Acedo, has obtained backing from creditors including Oak Hill and Attijariwafa Bank, and plans to pay off its debt over three years without a haircut.
Some creditors, such as Asefa, Sareb, BBVA, Abanca, and CaixaBank, have opposed the agreement, but Urbas believes part of their debt is contingent rather than ordinary. The court will decide on the matter in the coming days.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
