Judgment that will determine your future celsa And if it’s still under family control Rubiralta or it expires this Friday for your creditors to receive it. At the expense of the final results, which will be held at the hearing scheduled for this Tuesday. Experts from the funds, who attended the final oral hearing this Friday, warned that the current property will not be able to meet the next debt maturity in five years and the industry’s turnover volume will shrink. In the near term, it will further complicate the steel group’s ability to improve its financial position.
The trial has passed between versions crossover so far. The current management tried to portray their creditors as disinterested and unaware of the company’s day-to-day, which would have led to “disaster” if they took over. He also tried to discredit the reports of experts commissioned by the funds, who evaluated Celsa’s present value below the contractual debt. It’s a key element in resolving the lawsuit, because if the fine determines Celsa’s debt is less valuable than her debt, it will fall into the hands of her creditors.
The current management of the company and the Government have agreed on a loan of 550 million euros with favorable interest in return for the recovery of the funds. However, this resignation was not accepted by those who forced the trial. Specialist hired by the financial institution kutxabank He said the restructuring plan—the only creditor who opposed the restructuring proposed by the rest—was “neither in his head”. “We are confident that it will not be possible to continue paying in the fifth year,” he said.
The expert made the current assessment of the steel group employed. 10,000 people directly in Catalonia, Euskadi and Cantabria – in the range of 1,000 to 1,600 million euros; clearly below current debt levels. The Rubiralta family owes approximately 2 billion 700 million euros in two different types of loans to funds such as: sculptor, Senior Vice President, golden tree, transoceanic And JP Morgan.
they try to force it. law of agreementFor Rubiralta to transfer 100% of Celsa’s property to them to collect the debt they said they couldn’t pay. In this sense, the Deloitte expert hired by the funds to fire Rubiraltas lowered expectations for Celsa’s ability to improve their business in the future, adding to the story that Rubiraltas cannot borrow more tomorrow than it does today. .
Unknown about ‘green steel’
In this regard, Deloitte emphasized that the steel industry is strongly affected by economic cycles and predicts approximate decreases in the coming years. 15% on billingmore specifically in 2024 and 2025.
It also increased the uncertainty aboutgreen steel’Introduced as one of Celsa’s future-oriented products. Deliotte questions the precise definition of the term at the legal level and points out that Celsa is not the only player in this market. He also insisted that there was excess production capacity in Europe that was putting pressure on the industry and undermining Celsa’s profitability potential.
The results and “punishment opinion” to be given by the judge of Barcelona’s No. 2 ad next Tuesday, Alvaro Lobato. The future and ownership of the main Catalan industrial company and the largest steelworks in all of Spain depend on it. It is a giant, which moves between 500 and 600 million euros every month in its payments to suppliers and with a total turnover of 6.084 million euros in 2022.