Auren y Kepler Karst dejan a Urbas sin mayorías para que prospere el concurso

Kepler Karst and Auren ended Urbas's competition without sufficient majorities for it to prosper. The concursal administration, led by Kepler Karst and Auren, rejected the company's version of the agreement and informed the judge that the proposed payment plan did not meet the legal majority required by Article 376.1 of the Reforged Concursal Law (TRLC).

Urbas then sent a letter to the CNMV rejecting the computation conducted by the concursal administration and claiming that they will challenge the exclusion of the excluded creditor group from the calculations that, in their opinion, support their viability plan. According to the letter from Auren and Kepler, the ordinary debt listed and with voting rights in the competition amounts to 74.9 million euros.

For Urbas's proposal, which included paying 100% of the credit without claims but with a three-year wait, to succeed, a simple majority comparison was required, with the number of approvals exceeding the number of oppositions. The final count filed before the judge paints a largely unfavorable picture, with approvals amounting to 20.3 million (27.12% of the ordinary debt), compared to 34.1 million (45.52% in opposition).

The rejection of Urbas's viability plan is led by Sareb, Asefa Seguros, BBVA, Abanca, Sabadell, and the Tax Agency. The concursal administration also counts the debt of Attijariwafa Bank as opposition. However, Urbas considers the Moroccan bank's change of opinion from opposition to support of the improved proposal a turn for the worse.

Auren and Kepler also characterize as a turn for the worse the change of stance of funds Oak Hill (12.77 million), RE-ESP Murias (2.8 million), and Debt Resolution (three million) and do not accept their support for the improved proposal.