Celsa España, part of the Celsa Group, is an industrial steel group founded in 1967 by the Rubiralta family. In June, Spain's government authorised 550 million euros in state aid to Celsa, approved by the European Commission. Click herefor an ANALYSIS on Spain's new lawDebtors can benefit from a three-month period to negotiate a restructuring plan with creditors that may be extended. Court approval would allow a restructuring plan to be extended within and between different creditor classes. As the creditor classes are approved, the next step will be to present a final restructuring plan showing Celsa's capital structure post restructuring.

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