The Spanish Securities Commission has opened the process to draw up its shortlist of candidates for insolvency administrator of listed company Tubos Reunidos after receiving a court order from the Vitoria-Gasteiz court requesting the three-name proposal that the CNMV must submit. The step follows Tubos Reunidos’ 4 May 2026 inside information notice that its board had resolved to seek voluntary insolvency proceedings, and interested parties have until 1 June 2026 to file expressions of interest. Applicants must declare that they meet the legal qualification and experience requirements and are not subject to any incapacity, incompatibility or prohibition. They must also provide information on the firm and its insolvency administration track record over the past 10 years, including comparable cases, set out the proposed team for the Tubos Reunidos case, and evidence professional liability insurance or equivalent cover of up to EUR 4 million if appointed. The CNMV said it will view positively candidates with a base or branch in Álava, multidisciplinary teams spanning law, economics and audit, and experience relevant to the issuer’s size, activity, financial situation and geographic footprint. The insolvency administrator will be appointed by the judge on the basis of the CNMV’s proposal, and the CNMV said it will make no further communication on the appointment beyond this notice.
Spanish Securities Commission (CNMV) 2026-05-14
Spanish Securities Commission seeks candidates for the Tubos Reunidos insolvency administrator shortlist by 1 June 2026
The Spanish Securities Commission is compiling a shortlist of three candidates for insolvency administrator of listed company Tubos Reunidos following a court order and the company’s voluntary insolvency filing. Applicants must evidence legal qualifications, relevant insolvency experience, a proposed case team and professional liability cover of up to EUR 4 million, with the CNMV preferring multidisciplinary teams, local presence in Álava and experience aligned to the issuer’s profile. The judge will appoint the administrator based on the CNMV’s proposal, and the CNMV does not plan further communications.