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Navigating complexities


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JJW Group is a renowned European hospitality group with several prime assets in the Algarve: 2 hotels (Dona Filipa and Penina), the Formosa Aparthotel, the Pinheiros Altos resort (2 golf courses and several land plots to build residences and a hotel) and the San Lorenzo golf course in Quinta do Lago. Following the great financial crisis, the group was under significant financial distress.


In 2012, ECS acquired JJW Group’s mortgage-backed credits from Portuguese banks, having successfully navigated a complex litigation and insolvency process with the aim of securing value for its credits.


After a lengthy judicial process, which included the negotiation of a restructuring plan for the group’s several companies, the shareholder agreed to an equity injection together with a debt restructuring which resulted in ECS’s credits being acquired for a premium to its acquisition value.

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