Evolution of the Crisis in Yanber

The plastics company is in the hands of its creditors, who will form a new board that will focus on restructuring the company in order to sell it within two years.

Friday, February 19, 2016

The manufacturer of flexible packaging that managed to avoid bankruptcy by reaching an agreement with its creditors will be sold within 24 months, according to lawyers representing private banks in the judicial process.

"... The firm turned to the courts over its debt of $64 million with public and private local and foreign banks as well as suppliers. The new trust owned by Yanber will pay these providers within five years and pay private banks when the company is sold. In the case of the state bank, which is owed ​​$23 million, the payment period was extended to 25 years and the interest reduced. "

Nacion.com adds that "... Moreover, a segment of the Yanber facilities will go up for rent this week. There are three warehouses and quayside in an area measuring ​​14,500 square meters (sqm). These properties are mortgaged to the Bank of Costa Rica and will be rented out in order to avoid having an unproductive asset, Gomez confirmed after talks with Ronald Soto, general manager of Yanber ".

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