19/05/2014 – La Informacion
Lenders of Renta Corporación, a real estate firm declared insolvent over a year ago, have filed for allocation of mortgage-backed assets as guarantees for syndicated loan. According to the CNMV (Spain´s Stock Exchange Market Commission), agent bank asked for positive decision of awarding the guarantees to all lenders of the bankrupt company.
Renta voluntarily issued a bankruptcy application in March last year facing a €185 million debt and difficulties in coming to an agreement with the lenders to refinance it. The Mercantile Court number 9 of Barcelona accepted its insolvency at the end of the aforementioned month.
Original article: La Información
Translation: AURA REE