Uría Menéndez has advised Iberian Resources Spain

June 27, 2024

Uría Menéndez has advised Iberian Resources Spain on the court approval of and subsequent challenge by some dissenting creditors against its debt restructuring plan for a total of over EUR 190 million, which culminated in the Provincial Court of Appeal of Cáceres dismissing the challenge in what was this court’s first ever judgment on restructuring plans.

The restructuring plan includes many novel restructuring measures, such as the approval of an accordion feature to increase its credit line and be assigned interim financing, as well as the capitalisation of the debt held by the creditors affected by the plan who had agreed to participate in the interim financing, to whom different rules applied depending on whether they had participated in the interim financing and the new credit line.

Our team for this matter was led by Carlos de Cárdenas (partner, Corporate) and Javier Yáñez (partner, Litigation), who were assisted by Andrea Andérez (associate, Litigation) and María Noguera (trainee lawyer, Corporate).