The judge approves the modification of the creditors agreement

With this ruling, the payments, which were to end in 2025, are extended linearly until 2030, at a rate of 2.47 million annually.

The-judge-approves-the-modification-of-the-creditors-agreement

The judge of the Commercial Court number 2 of Zaragoza, María del Carmen Villellas Sancho, has approved this Wednesday the modification of the creditors agreement of Real Zaragoza SAD, which had previously presented the accessions of 52.78% of the passive mass of ordinary creditors.

The total ordinary debt of Zaragoza amounts to 24.7 million and, with this second modification of the creditors' agreement, the payments, which were to end in 2025, will be extended in a linear manner until 2030, at a rate of 2.47 million per year, at margin that will be suspended if the Aragonese club descended to First Federation, before finishing paying its ordinary creditors. Similarly, if in this new period the return to the First Division is achieved, an additional 20% would be paid annually to ordinary creditors until the credits are exhausted.The Court had already admitted on April 16 the request for modification made by Real Zaragoza, dated March 11, due to the significant decrease in income expected by the entity due to the COVID-19 pandemic, which forced the closure of the stadiums, with all the economic repercussions derived from that measure.



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