The Catalan company, whose vice presidence is in charge of Carlos Gila Lorenzo, it has reached a business agreement with food company Leche Pascual. This alliance will allow La Seda to increase revenues by 15 million euros.
The senior advisor Carlos Gila Lorenzo, representative of the company Inverland Dulce S.R.L., has given the position of Vice President of the international company specialized in processing and recycling of chemical products.
The Portuguese bank Caixa Geral have supported the restructuration of La Seda by giving a loan of 371 million euros. This credit has been approved in 2008 but the catalan company’s status paused the loan until today.
La Seda’s Scheme of Arrangement process kicked-off today; single lender class meeting on 21 MayAn open court hearing for La Seda de Barcelona’s Scheme of Arrangement took place this morning (30 April) at the English High Court. Presiding Judge Justice Newey gave his endorsement to implement a debt restructuring via a UK Scheme of Arrangement, subject to approval from 75% of lenders, after that the company’s counsel, instructed by Freshfields – legal representatives to the Spanish petrochemicals derivatives group – briefly outlined the plan.