The Spanish Securities Commission (CNMV) has opened a process to receive expressions of interest from candidates to be included in its proposal to Madrid Commercial Court No. 2 for the appointment of the insolvency administrator of Urbas Grupo Financiero S.A., following the issuer’s disclosure that its board agreed to request voluntary insolvency proceedings. Candidates have until 1 December 2025 to submit the required application form and supporting documentation through the CNMV’s electronic channel, with an exceptional alternative for applicants without a recognised digital signature. Submissions must include a declaration of compliance with legal eligibility requirements (including relevant qualification and experience, and absence of incompatibilities), information on the firm and its insolvency administration experience over the last 10 years, details of the proposed multidisciplinary team to handle the proceedings, and evidence of professional liability insurance or an equivalent guarantee, including an explicit commitment to raise the insured sum to EUR 4 million if it is currently below that amount. The court will appoint the insolvency administrator based on the CNMV’s proposal, and the CNMV does not expect to make further communications regarding the appointment.
Spanish Securities Commission (CNMV) 2025-11-17
Spanish Securities Commission opens expressions of interest process for Urbas Grupo Financiero insolvency administrator proposal
The Spanish Securities Commission (CNMV) seeks candidates for the insolvency administrator of Urbas Grupo Financiero S.A., following its voluntary insolvency request. Applications must be submitted via the CNMV’s electronic channel, including compliance declarations, firm information, and proof of professional liability insurance. The court will appoint the administrator based on the CNMV’s proposal.