The Legal 500

KPMG

What we say about the firm's legal practice in Morocco

Tax

Within Tax, KPMG Abogados is a third tier firm,

KPMG advises on tax reforms, company law and regulatory issues. Clients include public authorities, associations and foundations and financial institutions.


Legal Developments by:
KPMG Abogados

  • The CVA – a retailer’s new best friend?

    JJB Sports plc (JJB) is a high street retailer which had fallen into diffi culties and couldn’t determine a mechanism for dealing with the lease costs of its closed stores, which created cash pressures. A rescue of the business would only be possible if its landlords consented to a compromise. However, there had already been other high-profi le failures to achieve landlord consent. We developed a tailored Company Voluntary Arrangement (CVA) which was approved by 99% of creditors. Blane Leisure Ltd’s CVA (a wholly owned subsidiary) was approved by 98% of creditors. No one in attendance at the Creditors’ Meeting on 27th April 2009 voted against the proposal.
    - KPMG LLP

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