Creditors Tierra del Sol accept draft composition

Track record

21 August 2014

The draft composition that has been proposed by Tierra del Sol to settle its debts and to prevent a bankruptcy, has been approved by a large majority of the creditors. The plan was accepted during the creditors' meeting, which was held on Tuesday 19 August 2014.

Attorney Randolph van Eps of VanEps Kunneman VanDoorne is the administrator of the moratorium, and expressed his support for the draft composition in an earlier stage already. The draft composition includes a turnaround plan, which should guarantee the continuity of the business activities of Tierra del Sol. In the past months, some of the measures in this turnaround plan were already implemented, which already resulted in an increased turnover for Tierra del Sol.