The Hard Felguera shares experienced a significant increase this Thursday, exceeding 10% intradic, to close with advances of 5.65%. This increase occurred after the courts of Gijón, in Asturias, approved the company’s application to extend their preocconduct of creditors until July 31.
Specifically, the titles of the Engineering Company rose 10.65% in the continuous, Intradía market, where they contribute, reaching a unit value of 0.2545 euros.
Extension of the pre -conclusion of creditors
The extension granted can be challenged through a appeal for replacement, which must be presented within five days of the notification of the car, before the Commercial Court number 3 of Oviedo, based in Gijón.
Duro Felguera had requested this extraordinary extension on June 11, with the aim of expanding the deadline for its pre -conclusion of creditors, which won on June 12, and thus access a second extension.
According to the SEPI and support of the creditors
This decision is based on a recent agreement between Duro Felguera and the State Society of Industrial Participations (SEPI) for the financial restructuring of the company’s debt. This agreement implies the reduction of interest rates and the extension of deadlines, measures that have been supported by more than 50% of the creditors affected by the restructuring plan, in accordance with the bankruptcy law.
According to the judicial order, the concession of the extension until July 31, 2025 is considered reasonable and in line with the principles of flexibility to facilitate the restructuring of viable debtors, with the aim of favoring the viability of Hard Felguera, the preservation of employment and the satisfaction of the medium -term credits.
Restructuring expert appointment
In addition to the extension, the application of Duro Felguera has been approved to designate a restructuring expert, being the company Lexaudit bankruptcy the selected to prepare the restructuring plan of the ten companies belonging to the Asturian company.
It should be noted that against this designation there is also the possibility of filing a appeal for replacement within five days, in which any alleged infraction committed in the resolution must be argued.
In summary, the extension of the preoccons of creditors of Duro Felguera, together with the support of the SEPI and the key creditors, as well as the appointment of a restructuring expert, mark a significant step in the company’s restructuring process to guarantee its long -term viability.