Abencys, a law firm specialising in restructuring and insolvency, has advised on the bankruptcy of Cricursa, which has finally been acquired by the company TVitec.
The firm was declared bankrupt in December 2021 for having a debt of €60 million and from then until now has managed to maintain its activity not only thanks to the protection granted by the bankruptcy, but also to the cooperation of clients, suppliers and other agents involved.
Abencys partner, Luis Martín (pictured), has been in charge of the bankruptcy administration of the catalan firm Cricursa. “Insolvency can and should serve to restructure a company. It should not be understood as the liquidation and the end of the business, but rather it aims to preserve as much of the business fabric as possible,” says Martín.
Cricursa thus joins the leonese company, TVitec, to form a large expert group in bent glass, retaining most of its workforce, as well as its activity.