Thursday, August 14, 2014

Aifos´s Bankruptcy. We are next to the end

August 8th. 2014 We are close to know about Aifos´s destiny. The Court appointed the Creditor´s meeting on October 31st. In that meeting all creditor will decide about: Option 1.- To pass the Aifos´s proposal about the way to pay the credits (Convenio). Option 2.- To select Creditor´s proposal about Aifos´s future, to be presented before September 4th. Option 3.- To go to liquidation. Option 3 will definitly close the company. All the assest will be sold and just a few of the creditors will receive the money. (Mass credits, Pivileged credits... maybe no money for ordinary credits). Option 1 has been propossed by the company. But... Do you trust on them? Would you be ready to receive only 50% of your money and wait 9 years until getting just 20%, and 10 years to get the rest? Will the company exists in ten years if current managers continue to rule Aifos? We are working from several months to propose a new and different way. (Option 2) where the creditors would have the chance to convert part of his credit into a New Aifos shares, and to recover the rest in cash in a few years. Most relevant credits belongs to banks, so they should lead this way, as they represent more than 20% of the credits. Here are some links to news about the work we have been done. http://www.elmundo.es/andalucia/2014/06/30/53b1a92e268e3e1f1c8b459f.html http://www.europapress.es/andalucia/malaga-00356/noticia-acreedores-aifos-reunen-ver-propuesta-convenio-empresa-otras-alternativas-20140628113444.html http://www.diariosur.es/20140504/local/malaga/acreedores-aifos-convocan-reunion-201405041319.html http://www.ley57.com/pt4/es/categories/item/203-aifos-los-acreedores-no-conf%C3%ADan-en-el-plan-presentado-y-proponen-alternativas.html http://www.cadenaser.com/espana/articulo/aifos-quiere-pagar-acreedores-mitad-debe-dentro-anos/csrcsrpor/20140602csrcsrnac_47/Tes Yo can also see relevant information about the Creditors´s meeting in www.administradorconcursoaifos.com ¿What will be your choice? We are ready to represent you into the creditor´s meeting if you don´t have a lawyer to do that. Do you want to join to option 2?

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