Renta Corporación Finally Overcomes the Insolvency

14/07/2014 – Cinco Dias

The Mercantile Court Number 9 in Barcelona has given a postive verdict on putting an end to the bankruptcy status of the Catalonian real estate company.

Renta Corporación has managed to come to agreements with its lenders, establishing a viability and repayment plan. By the deed, the firm directed by Luis Hernández, regained the full powers of management and decision-making, after almost one and a half year of being declared a bankrupt.

On the new path, Renta Corporación explores possibility of welcoming international funds in its holding, without losing the control, though. The company is going to carry on with its two business models: purchase, refurbishment and real estate sales and the advisory services, however since now it will tighten the belt to €10 million.

Also, Renta is considering return to the Spanish stock market in July-September.

 

Original article: Cinco Días (after: EFE)

Translation: AURA REE

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