The Valencia Institute of Finance (IVF), represented by the Generalitat’s counsel, challenged the Alicante Provincial Court’s ruling in the appeal heard by the Court of Appeals Law Department. The case focused on procedural breaches and ultimately affirmed the underlying commercial decision. Elche CF secured approval for a creditor settlement within its voluntary bankruptcy proceeding, a development reported by the TSJ Communications Office today. Earlier, the Attorney General of the European Union indicated that Elche might not owe the full 3.7 million in aid received from IVF, nor the guarantees supplied through IVF, in a separate ongoing legal matter. The related credit application remained part of the record in this broader dispute.
