Isolux's creditors in Brazil approve Judicial Reorganization Plan of the company
Grupo Isolux tem plano de Recuperação Judicial aprovado por credores no Brasil
Intel ID : 268314
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Creditors of the Isolux Group in Brazil (Corsan-Corviam, Isolux Ingenieria do Brasil, Isolux Projetos e Instalações, Isolux Projetos, Investimentos e Participações, and Isolux Corsan do Brasil), one of the main players in the infrastructure sector have approved their plan of Judicial Reorganization. The companies, heavily affected by the crisis in the infrastructure sector, have been in judicial reorganization since July 2017 and the accumulated debt is approximately BRL 550m. The plan was approved by more than 80% of the creditors after several creditors' meetings, which had been suspended since July 2018. The decision of the creditors should be submitted to judicial approval, which should occur soon after the end of the forensic recess in February.
(content in portuguese)
Os credores do Grupo Isolux no Brasil (Corsan-Corviam, Isolux Ingenieria do Brasil, Isolux Projetos e Instalações, Isolux Projetos, Investimentos e Participações e Isolux Corsan do Brasil), um dos principais players do setor de infraestrutura, com origem em Madri, aprovaram seu plano de Recuperação Judicial. As empresas, fortemente atingidas pela crise do setor de infraestrutura, estão em recuperação judicial desde julho de 2017 e a dívida acumulada é de aproximadamente BRL 550m. O plano foi aprovado por mais de 80% dos credores, depois de diversas assembleias de credores, que vinham sendo suspensas desde julho de 2018. A decisão dos credores deverá ser submetida à homologação judicial, o que deverá ocorrer logo após o término do recesso forense, em fevereiro. |
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| Intel ID | 268314 | ||||
| Value | EUR 129,66m | ||||
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Brazilian Real (BRL)
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Financial Data - Isolux Corsán
(31 Dec 2018) |
Revenue: - Net Debt: - People: 874 |
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| Primary Sector (TTRSC) |
35.03.03 Construction & Engineering (Non Residential) 35 Industrials / 35.03 Construction & Engineering |
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| Secondary Sectors (TTRSC) |
35.03.02 Building Contractors 35 Industrials / 35.03 Construction & Engineering 35.03.99 Other Construction & Engineering 35 Industrials / 35.03 Construction & Engineering 35.09.03 Railway Infrastructure 35 Industrials / 35.09 Transport Infrastructure 35.09.05 Toll Bridges, Roads & Highways 35 Industrials / 35.09 Transport Infrastructure |
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35.03.05 Homebuilders (Residential) 35 Industrials / 35.03 Construction & Engineering |
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| Secondary Sectors (TTRSC) |
35.03.02 Building Contractors 35 Industrials / 35.03 Construction & Engineering 35.03.03 Construction & Engineering (Non Residential) 35 Industrials / 35.03 Construction & Engineering 35.03.04 Electrical Infrastructure Construction & Engineering 35 Industrials / 35.03 Construction & Engineering 60.01.03 Telecoms Towers & Infrastructure 60 Telecommunications / 60.01 Telecommunications & Networking Hardware |
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| Primary Sector (TTRSC) |
35.03.03 Construction & Engineering (Non Residential) 35 Industrials / 35.03 Construction & Engineering |
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| Secondary Sectors (TTRSC) |
20.04.07 Renewable Energy Equipment 20 Energy & Utilities / 20.04 Renewable Energy 35.03.05 Homebuilders (Residential) 35 Industrials / 35.03 Construction & Engineering 35.09.05 Toll Bridges, Roads & Highways 35 Industrials / 35.09 Transport Infrastructure |
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| Primary Sector (TTRSC) |
35.03.03 Construction & Engineering (Non Residential) 35 Industrials / 35.03 Construction & Engineering |
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| Secondary Sectors (TTRSC) |
15.05.99 Other Distribution & Retail 15 Consumer Products & Services / 15.05 Distribution & Retail 35.03.04 Electrical Infrastructure Construction & Engineering 35 Industrials / 35.03 Construction & Engineering 35.03.99 Other Construction & Engineering 35 Industrials / 35.03 Construction & Engineering 35.07.09 Lighting, Electrical Equipment & Supplies 35 Industrials / 35.07 Manufacturing |
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| Primary Sector (TTRSC) |
35.03.03 Construction & Engineering (Non Residential) 35 Industrials / 35.03 Construction & Engineering |
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| Secondary Sectors (TTRSC) |
15.05.99 Other Distribution & Retail 15 Consumer Products & Services / 15.05 Distribution & Retail 35.03.02 Building Contractors 35 Industrials / 35.03 Construction & Engineering 35.03.04 Electrical Infrastructure Construction & Engineering 35 Industrials / 35.03 Construction & Engineering 35.03.05 Homebuilders (Residential) 35 Industrials / 35.03 Construction & Engineering 35.07.09 Lighting, Electrical Equipment & Supplies 35 Industrials / 35.07 Manufacturing |
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25.04.99 Other Financial Services 25 Financial Services / 25.04 Other Financial Services |
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Legal Advisory
| Parties | Advisor | Type | Notes from Advisors | |||||
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Legend:
Verified: Confirmed as a party to an active or possible transaction.
Potential: Unconfirmed as a party to an active or possible transaction.
Retained: Confirmed as “Retained” with a general or specific mandate.
Prospect: Advisory “Prospect” in discussions with or pitching services to possible client.
Transactional data is continuously updated by the research team and therefore is subject to change.