The Catalan company SolarProfit has obtained approval for its restructuring plan for its subsidiary Solar Profit Energy Services. This is the second attempt following a challenge from banks in January 2026.
The Catalan company SolarProfit has received approval for the restructuring plan of its subsidiary Solar Profit Energy Services from the Barcelona Court of First Instance. The approval comes after a first failed attempt that was challenged by several banking entities in January of this year, according to expansion.com.
The new plan has been presented individually for each of the group's companies, unlike the previous attempt which was joint and covered five companies. This division aims to facilitate the viability of the restructuring plans, which have been necessary following the judicial setback suffered last January by the Provincial Court of Barcelona.
In December 2024, the court had approved a plan that involved write-offs of between 86% and 100% on a total liability of 206.7 million euros. However, the challenge from eight financial entities, including Bankinter, BBVA, Banco Santander, and CaixaBank, led the court to consider that the classification of creditors was poorly structured.
The last approved plan affects 112 of the 115.5 million euros of liabilities of Solar Profit Energy Services, with a provisional write-off of 96% for ordinary creditors. Despite this approval, it is anticipated that the plan could be challenged again by the creditor banks, following the pattern of the first restructuring attempt.
For its legal advice, SolarProfit has relied on the firm Perelló & Biosca & Cabrera, while the creditor banks were advised by Garrigues and KPMG Abogados.
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