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Construction firm Las Magdalenas bankrupt: Bank rejects restructuring of Penquista giant



Las Magdalenas, one of the largest construction firms in Concepcion, after three banks refused to restructure the company.

company Construction company Las Magdalenas went bankrupt after three banks rejected the judicial restructuring of the Penquista giant, one of the largest banks in Concepcion.

As reported by financial diarycompany debt over 17 billion pesos the main creditors are Itau, Scotiabank, BCI and Security Bank.

At the January 17 creditors meeting, the entities opposed Ras Magdalenas’ demands. buy more time for judicial restructuring in the midst of a complex economic scenario.

As for Banco Security, it rejected a proposal of up to 1,859 million pesos. Commercial evaluation of assets declared essential s, you will be notified with a list of recognized credits.

Carlos Hidalgo, presiding judge of the Third Civil Court of Concepción, said on January 17 that neither a quorum for the restructuring agreement nor for the company to present a new proposal was reached, according to Diario Financiello.

Based on the above, we proceeded to the following. liquidation resolution of the construction company Las Magdalenas.

This is not the only large company in the same situation in Concepcion. It is worth mentioning what happened to the company Claro Vicuña Valenzuela. Bankruptcy in October 2022 more than 30 works have been abandoned and nearly 2,500 people have lost their jobs.

Among the pending works is the Bicentennial Bridge between Concepcion and San Pedro de la Paz, which is ten years behind schedule.

Source: Biobiochile

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