Link Securities | Duro Felguera (MDF) reports that the company’s objective is to agree on a restructuring plan with its creditors before 31 July, the date authorised by the judge handling the proceedings, in order to avoid bankruptcy. If a restructuring plan is agreed, MDF will request its judicial approval. The restructuring plan involves a risk for shareholders, as it could affect the company’s financial position.
At the date of this publication, the impact that the plan could have on other stakeholders, such as creditors, is also unknown. Progress has been made in the negotiations and issues relevant to the definition of the restructuring plan and its impact on MDF’s assets are in the process of being resolved. The resolution of the outstanding issues is essential to reach a consensus that will enable the approval of a restructuring plan, the specific terms of which will be disclosed to the market as soon as possible.
MDF will endeavour, within the applicable legal framework and in accordance with the specific circumstances, to minimise the consequences for all those affected by the restructuring plan, although the specific scope for each group is not currently known. For the purposes set out in this communication, MDF will make every effort and take all necessary steps.
