Lateral Inversiones Al’Ándalus reaches an agreement with its creditors with the advisory services of PradaGayoso

The company Lateral Inversiones Al’Ándalus managed to conclude –with the consultancy services of PradaGayoso– an agreement with its creditors in the framework of its bankruptcy proceedings.

In February, Commercial Court number 4 of Madrid approved the proposed agreement submitted by the company, which was supported by creditors representing 72% of ordinary liabilities. Thus, Lateral Inversiones Al’Ándalus, located in Madrid, can continue its company line of business as a real-estate developer.

The current administrator, José Ignacio Pastor, and his predecessor, Ignacio Barco, believe that the ‘meeting of creditors would not have concluded so satisfactorily if not for the specialised support received from PradaGayoso throughout the entire process.’

For his part, Javier Marquina, a lawyer, economist and partner at the firm PradaGayoso, points out that the case of Lateral Inversiones Al’Ándalus ‘is a clear example that a meeting of creditors can conclude with an agreement if there is true interest by the bankrupt company and creditors to move forward.’