The provincial court of Las Palmas, in the Canary Islands, has the appeal of the creditors of Armas Trasmediterránea has been rejected against the restructuring plan of the shipping company Spanish which had already been approved by the court commercial area of the capital of Gran Canaria. Dismissing the appeals presented by Acciona, CaixaBank, Banco Santander, Banco Sabadell and by the Instituto de Crédito Oficial, the court ordered the creditors to bear legal costs.

With the green light to the restructuring plan, the 60% reduction in the shipping company's debt which drops from 483 million to 193 million euros through the debt-to-equity swap and bondholders are allowed to acquire 94% of the capital of Armas Trasmediterránea, with the remaining 6% that will remain with the Armas family that he founded society. In particular, the share capital of the company was reset and at the same time carried out a capital increase fully subscribed by the bondholders with capitalization of part of the debt. The bondholders, on the basis of an agreement with the Armas family, have then transferred 6% of the capital to the latter.