Newsletter Insolvency and Special Situations
July 2026
In this issue we address Judgment No. 437/2026 of the Barcelona Court of Appeal (Provincial Court, 15th Section), of 24 April, handed down in the matter of Cablematic Dos Mil, S.L., joining the body of rulings that are shaping the true scope of the restructuring plan regime introduced by Law 16/2022.
The significance of the ruling lies not solely in the declaration of ineffectiveness of the sanctioned plan, but, above all, in the fact that it was handed down in open disagreement with the position maintained by the 28th Section of the Madrid Court of Appeal.
The judgment rules on three disputed issues:
CABLEMATIC RESTRUCTURING PLAN
Classes in favour
28.74% of liabilities
Dissenting classes
71.26%
| A1 | Public Claim (sole creditor: IFC) |
| B1 | Trade Creditors |
| B2 | Strategic Creditor (SEUR) |
| C | Lease Creditor |
A2 Financial Creditors
A3 ICO Financing
D Disputed Claim
(*) The plan was not accompanied by the Restructuring Expert's Report
Download the full briefing note to review the background, the structure of the plan, and the key issues raised by this judgment.
