Urbas Disputes Insolvency Administrator’s Finding of Insufficient Support for Restructuring Plan
Bitget2026/10/27 17:36- Urbas will challenge its insolvency administrator’s finding that the proposed creditor agreement failed to secure the required majorities.
- The administrator counted EUR 20.33 million in supporting claims, excluding EUR 37.2 million over recognition, classification and filing issues.
- Reported supporting claims exceeded EUR 57.33 million; the company estimates more than EUR 60 million, sufficient for acceptance.
- Opposing claims totaled approximately EUR 34.12 million, including EUR 12.42 million owed to Attijariwafa Bank.
- The company disputes counting the bank’s vote as opposition, citing the creditor’s expressed intention to reconsider its position.
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