Legal tip 474. Martinsa Fadesa "overcoming" unsolvency status
Monday, March 14, 2011 @ 4:59 PM
Judge of Commercial Court in Coruña has passed a decission where he approves the agreement reached by its creditors. This agreement establishes the calendar and conditions for the payment of its debts.
The Company is committed to pay its entire debt within 8 years, starting in 2012. Debt repayments from 2012 to 2014 will be of just 0,25% and 0.50%
Banks will be able to cash debts for shares if they get not paid.
Off plan purchasers?: Best option again, to use action 1.2 against Banks which receiced deposits and did ot secure on the existence of Bank Guarantees. Nothing to be expexted from Creditor´s meeting in favour of off-plan purchasers.
.jpg)
Tarifa by DarkBlade at Flickr.com