Overview
- The Tribunal de lo Mercantil nº3 de Gijón homologated the viability plan in rulings issued on Monday and Tuesday, dismissing opposition from nine creditors and removing the immediate risk of insolvency for the company.
- The court validated a financial reordering that affects about €980 million of liabilities and approved novation of the €120 million SEPI (FASEE) loan to market-rate terms with amortization through 2035.
- The viability plan includes a €10 million capital increase subscribed by majority shareholder Grupo Prodi and foresees asset disposals such as the company headquarters to raise roughly €13–23 million in liquidity.
- Duro Felguera will execute an operational restructuring including a labour-reduction process (ERE) that leaves roughly 500–525 staff to preserve core technical capacity while focusing on profitable EPC and assembly work.
- With legal contingencies from legacy projects such as Djelfa in Algeria resolved, the company can pursue confirmed letters of intent for about $300 million in Mexican projects and complete planned sales such as the Barros plant, which may shape creditor recoveries and future treatment of state-backed rescues.