Liwe Española enters insolvency as administrator search begins
Liwe Española, the company operating the Inside retail chain, entered voluntary creditors' insolvency proceedings on January 30. The move followed the rejection of its restructuring plan last November. Now, the search for an insolvency administrator is underway, with applications open until February 25.
The National Securities Market Commission (CNMV) has begun gathering candidates for the role. Murcia's Commercial Court No. 3 ordered the CNMV to propose a shortlist of three qualified professionals. Those interested must submit their applications by February 25, including a completed 'Insolvency Administrator Candidacy' form and all required documentation.
Applicants are required to provide a declaration confirming they meet legal standards for the position. They must also outline their firm's experience in insolvency administration and detail the team assigned to handle Liwe's case. Additional supporting materials can be included if deemed relevant.
Once submissions close, the CNMV will review the candidates and forward its recommendations to the presiding judge. The final decision on who will oversee the insolvency process will rest with the court. As of the deadline, no official figures have been released on how many firms have applied.
The insolvency administrator's appointment will mark the next step in Liwe Española's financial proceedings. The selected professional will take charge of managing the company's debts and restructuring efforts. The process remains under judicial oversight, with the CNMV playing a key advisory role.
