CORPORATE RESTRUCTURING

Since coming into effect of the transposition of the European Insolvency Directive (EU 2019-1023), restructuring mechanisms are articulated in Spain aimed at allowing companies in insolvency to restructure not only their payable liabilities, but also their productive structure from income generation to cost structures, production units and financial environment.

For this we have economists and lawyers specialized in the world of insolvency with years of experience both in the preparation of insolvency proceedings and assisting debtors as insolvency administrators. This, added to our extensive experience as business advisers, provides us with a 360º vision that allows us to address any insolvency situation by identifying and attacking the source of the problem.

DEBT REFINANCING

On the debtor’s side, RD Asesores can assist in determining the most optimal type of refinancing (syndicated; bilateral; with an independent expert; with or without judicial approval), analyze the
types of debt affected and define the objectives of the process, adapting to the motivations of the protagonists (financial entities, funds, investors, companies, suppliers, workers, public administrations). When we advise the company to refinance, our team of experts can intervene in the negotiation of stand/still agreements, in the search for new financing, in the sale of assets and
in the swap of debt for assets or capital instruments (debt -to-equity swap).

When our team of lawyers advises investors, funds or financial entities, they can analyze the type of refinancing proposed and study the package of guarantees. We can also prepare resistance tests
of the guarantees in case of insolvency and suggest other possibilities, intervene in the negotiation of stand/still agreements and agreements between creditors, including the request for judicial
approval of the agreement reached by the majority of financial entities, which may include the forced extension of the effects of the agreement to the dissenting creditors (“Spanish schemes of
arrangement”) or the defense of these dissenting creditors against a forced extension of effects that implies a disproportionate sacrifice of their position or an absence of majorities relevant.