Vértice 360 ​​Group requests voluntary competition for several of its companies

The group companies that have requested the voluntary competition are: Vértice SERVICIOS, Vértice 360º Inmuebles, Vértice Sales Agent, Vértice Live, Vértice Cine, Telespan 2000 and Vértice Films.

Grupo Vértice 360 ​​has requested voluntary bankruptcy due to the current insolvency of some of its companies. Specifically, the group companies that have requested the voluntary competition, as communicated to the CNMV, are: Vértice SERVICIOS, Vértice 360º Inmuebles, Vértice Sales Agent, Vértice Live, Vértice Cine, Telespan 2000 and Vértice Films.

The aforementioned companies all have the status of direct dependents and belong to the Vértice 360 ​​Grados Group, whose parent company, Vértice Tres Hundred Sixty Grados, has been declared in voluntary bankruptcy by the Commercial Court no. 5 of those from Madrid, by Order dated June 4.

All of them had previously communicated, under the protection of art. 5bis of the Bankruptcy Law, the beginning of negotiations to reach agreements with its creditors and refinance its debts.

Joint applications, and the subsequent declaration, are provided for in art. 25 of the Bankruptcy Law for debtors belonging to the same group. For its part, the same rule provides that bankruptcy proceedings declared jointly and accumulated will be processed in a coordinated manner, without mass consolidation.

Given that these companies are each specialized in a phase of the audiovisual business cycle, overcoming the current financial situation involves formulating a common agreement proposal for all the companies in the group, or at least a good number of them, and even some structural modification, all based on a Viability Plan that is currently being prepared.