PradaGayoso helps the company Cijolber reach an agreement with its creditors

The financial restructuring firm PradaGayoso has advised the company Cijolber, belonging to the real-estate sector, to reach an agreement with its creditors.

Commercial Court number 3 of Madrid just approved the proposed agreement, which was supported by over 55% of ordinary liabilities. The agreement involves debt relief of 50% and a five-year grace period.

Compliance with the agreement shall entail the end of the bankruptcy proceedings voluntarily requested by Cijolber, a company founded in 1998 that is located in the Madrilenian municipality of Humanes de Madrid.

Javier Marquina, a lawyer, economist and partner at PradaGayoso, points out that ‘the case of Cijolber proves that companies that enjoyed the real-estate boom can have a second life if they channel their restructuring correctly and commit to reaching an agreement with their creditors.’