Insolvency
Tubos Reunidos files for creditors' arrangement due to imminent insolvency
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Tubos Reunidos filed for voluntary creditors' arrangement on Monday before an Álava court due to cash tensions worsened by the indefinite strike at its Amurrio plant. The CNMV immediately suspended trading of its shares. The company aims to protect the interests of creditors, workers, suppliers, and shareholders.
Ambuja Cements, part of the Adani Group, has submitted a bid of Rs 580 crore for Jaypee Cement. The offer comes during the company's insolvency resolution process but falls short of its liquidation value.
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Jonathan Malagón, president of Asobancaria, denounced in an interview with Semana magazine the existence of a supposed insolvency cartel in Colombia. The announcement contrasts with the case of Jaime Alberto Ramírez Álvarez and his wife, who took their lives after handing over their home to pay bank debts.
The Superintendency of Companies has called a public hearing for January 22, 2026, to assess the recognition in Colombia of judicial orders issued by a Canadian court in the insolvency proceedings of Canacol Energy Ltd. and its subsidiaries. The agency ordered notifications to creditors and interested parties regarding submitted memorials and a financing agreement under review.
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The Superintendence of Societies received notification from the Court of King's Bench of Alberta regarding Canacol Energy's insolvency process and a request to recognize it in Colombia under Law 1116. KPMG, as monitor of the Canadian process, requested suspension of executions against assets of Colombian subsidiaries and protection of their operations. Superintendent Billy Escobar clarified that this does not initiate a local process but international cooperation mechanisms to ensure business continuity.