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Sareb collaborates in the search for the best solution for Renta Corporación
19/03/2013

The Management Company for Assets Arising from the Banking Sector Reorganisation (Sareb) today expressed its willingness to continue working with Renta Corporación in finding the best solution for the company following its decision to file for bankruptcy.

Sareb and the creditor banks worked up until the last minute to avoid this outcome, which primarily came about due to the complex situation in the real estate market.

In recent months, the creditor banks had agreed to a restructuring of debt on two seperate occasions, although this was not enough to prevent the company from declaring insolvency.

Sareb will continue to work with the rest of the company's creditors and the company itself in the analysis of all possible alternatives.

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