Uría Menéndez secures the first ever court decision that extends the creditor perimeter during the term of a court-approved restructuring plan
January 29, 2025Our cross-disciplinary restructuring team has secured a decision from Madrid Commercial Court 14 to extend the scope of the restructuring plan so as to include claims that the party that proposed the plan involuntarily omitted because it did not know about them when defining the plan’s initial scope based on the information available to it at the time.
This innovative decision addresses a significant problem that has recently arisen with restructuring plans, as the law does not provide a specific mechanism to extend the scope of a restructuring plan once the court has formally approved it.
The Uría Menéndez team in the case was led by José Félix Zaldívar (partner, Finance), José María Blanco Saralegui (counsel, Litigation) and Linda Guerra Henríquez (managing associate, Litigation).