Cortefiel looks to courts to crack A&E target

In what some believe could be a sign of things to come in tough amend and extend discussions, Spanish retailer Cortefiel is set to launch a scheme of arrangement through the UK courts in order to secure its extension target of 90%.

  • 21 Sep 2012

This week, Cortefiel received support from 75% of its lenders to proceed with the scheme, which would allow the courts to decide whether the amend and extend is the best option for the company. If the courts agree, the dissenting lenders would be forced to extend.

"It’s a very ...

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