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HomeLatest NewsEzentis asks to extend the negotiation of the restructuring with the creditors

Ezentis asks to extend the negotiation of the restructuring with the creditors

Date: March 22, 2023 Time: 23:00:47

Ezentis has presented this Tuesday before the Mercantile Court of Seville a request for an extension for a period of three months in the negotiations with creditors to reach a restructuring plan, in which it has been immersed since last November, in the framework of the pre-bankruptcy in which it has been since September.

As reported by the company to the National Securities and Markets Commission (CNMV), the decision to present this extension request has been adopted after obtaining the appropriate external advice and the “favorable” report from the restructuring expert, at the same time as the agreement of the majority of creditors affected by the plan has been included. In this way, in order to “protect” the interests of Ezentis’ creditors and shareholders, the company hopes to gain “additional time” to reach the necessary agreements.

Two internal financing contracts for 16 million

Recently, as part of the preparation of this restructuring plan, Ezentis has signed two interim financing contracts for a combined amount of 16 million euros. The purpose of these contracts was to “satisfy certain circulation and operational needs” of the company, until said restructuring plan is approved and becomes “effective”.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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