Just nine months after declaring the insolvency the creditor’s composition agreement has been endorsed by the creditors and in December 22nd it has been forwarded to the Judge. The designated bankruptcy administrator has been Abad & Asociados Lawyers and Economists.
The company is the owner and manager of TCH Hotel, located in Lorquí’s industrial park, which provides businesses in the area with 60 rooms, restaurant, and conference room, creating more than 10 direct jobs.
Just nine months after declaring the insolvency the creditor’s composition agreement has been endorsed by the creditors and in December 22nd it has been forwarded to the Judge. As soon as it is approved, the company will exit the bankruptcy.
The proposal has been supported by more than 60% of ordinary creditors. The Constructions GGG’s TCH Hotel is the main place of lodging in the area. The main problem of the company has been the high mortgage burden on its facilities and the dip in hotel occupancy resulting from the decrease in the activity of the Polygon where it is located.
The assets of the company exceed 4,500,000 euros, and during the time Construcciones GGG, S.L. has remained in bankruptcy the company has been able to pay all the credits against the estate, due to its good economic performance.
The designated bankruptcy administrator has been Abad & Asociados Lawyers and Economists, SRL, through its partner Isaac Garrido Abad.
