Juan Antonio Acedo: Sareb has in its hands the task of saving Urbas and activating 20,000 homes
The managing director and majority shareholder of the crisis-hit construction company is finalizing another viability plan to adapt to the demands of the bankruptcy administration.
Urbas, a Spanish construction company, is awaiting a court decision on its creditor bankruptcy. The company's management is hopeful that Sareb, a public housing promoter, will change its vote in favor of a viability plan, which would guarantee the plan's approval. Urbas' president, Juan Antonio Acedo, claims that liquidation, proposed by administrators Kepler Karst and Auren, would benefit a vulture fund, Roundshield, which wants to collect triple the debt.
A new viability plan, supervised by Crowe, is being prepared, focusing on direct land sales to ensure immediate liquidity.
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.
