Ezentis presents pre-insolvency proceedings

The Board of Administrators of the Ezentis telecommunications group has agreed to current pre-bankruptcy as a result of treasury tensions that the corporate has been struggling in latest months.

As reported by Ezentis in a press release, the Ezentis Board of Administrators has indicated that it has discovered this Thursday that the corporate “is in an imminent insolvency state of affairs, which might turn out to be present within the coming weeks.”

The Board of Administrators has agreed to current pre-insolvency proceedings with collectors, as the corporate has communicated to the Nationwide Securities Market Fee (CNMV), informing the competent court docket of the opening of negotiations with collectors to acquire accessions to an early proposal settlement or to achieve a refinancing settlement that meets the necessities established within the Chapter Regulation.

The choice to current the aforementioned communication has been adopted after acquiring exterior recommendation and with the purpose of defending the pursuits of the collectors and shareholders of the corporate, permitting further time to achieve the mandatory agreements with the collectors of Ezentis.

Additionally right now, the identical determination has been adopted by the executive physique of the nationwide subsidiaries of the Firm and it has been reported that the subsidiary of the corporate in Germany has filed a declaration of insolvency with the corresponding physique.

“However the truth that the Board has been working in latest months on a viability plan that may make sure the continuity of the Firm and its subsidiaries, in addition to their financial steadiness, and having obtained help from each its fundamental buyer and monetary establishments, the mandatory premises for the viability of the Firm and particularly the money influx, so far haven’t been assured”, in line with Ezentis, who added that the Board “will proceed to work tirelessly to make sure the continuity of the Firm and its subsidiaries”.

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