Mètodes de valoració d’empreses en reestructuracions societàries: anàlisi del cas Celsa

Catalan Barat, Albert; Ollé Grau, Maria; Planella i Obach, Albert

Mètodes de valoració d’empreses en reestructuracions societàries: anàlisi del cas Celsa

License

Citation

Catalan Barat, A, Ollé Grau, M, Planella i Obach, A. Mètodes de valoració d’empreses en reestructuracions societàries: anàlisi del cas Celsa. 2024. handle: http://hdl.handle.net/10230/59706

This citation was generated automatically.

Abstract

This paper focuses on the analysis of the methods of valuation of companies in situations of corporate restructuring. More specifically, it focuses on the judgment issued by the Commercial Court No. 2 of Barcelona on September 4, 2023, in which the Restructuring Plan proposed by the creditors of the company Celsa was approved. As a consequence of this Plan, and based on the new Spanish Insolvency Act 16/2022, the Rubiralta family lost control of the company in favor of several investment funds, which capitalized a substantial part of their credits.Thus, the following pages concentrate the analysis of the business valuation methods used in the present case, emphasizing the potential inaccuracies or inadequacies of the methods in the context of a restructuring process. This topic is of great relevanceand is not without controversy, since the valuation of a company in a judicial process can determine whether the creditors can assume control of the company, to the detriment of the previous shareholders.The objectives of this paper are twofold. Firstly, to analyze whether conventional valuation methods are applicable in the context of companies undergoing restructuring and; secondly, to evaluate the suitability of the different valuations of Celsa during the judicial homologation process, which influenced the judge's decision to give control of the company to the creditors.

Description

Treball de Fi de Grau en Administració i Direcció d'Empreses / Economia. Curs 2023-2024
Tutor extern: Oriol Amat i Salas
Tutor intern: Sergi Jiménez-Martín