Miguel Ángel has extensive experience in commercial law, mergers and acquisitions, capital markets and corporate governance. He has advised national and international companies in highly complex transactions, with a special focus on regulated sectors such as energy, telecommunications, insurance and real estate. In recent years he has concentrated his activity in distressed M&A, leading the design and corporate implementation of some of the most relevant non-consensual restructuring plans in the Spanish market, such as Celsa, Telepizza or Grupo Rator. He combines a solid transactional practice with differential experience in corporate governance and board secretariat.
He led the design and corporate implementation of the non-consensual restructuring plan of Grupo Celsa, the largest private steel company in Spain, with a debt of more than 2,000 million euros and its subsequent refinancing in 2025. The plan, judicially approved by the Commercial Court No. 2 of Barcelona in 2023, transferred control of the company to its financial creditors and constituted the first major precedent of capital dragging under the Consolidated Text of the Insolvency Law of 2022.
He led the design and corporate implementation of the Grupo Rator / Azor Ambiental case (Mercantile Court No. 2 of Murcia, 2025), the first precedent in Spain of distressed M&A by design: an industrial competitor acquired the bank debt of a family business and, without the consent of the partners or a purchase agreement, obtained 100% of the capital through a non-consensual restructuring plan approved by the courts.
Advising the bondholders -including funds such as Blantyre, Oak Hill and Fortress- on the corporate aspects of the implementation of the restructuring plan of Food Delivery Brands, Telepizza's parent company, whose approval by Madrid Commercial Court No. 5 resulted in the transfer of full control of the company to the creditors by means of debt capitalization.
