Clifford Chance advises Distrito Castellana Norte (now CREA Madrid Nuevo Norte) in by-law arbitration

Clifford Chance has advised Distrito Castellana Norte (“DCN”), the developer of the largest urban project in Europe (“Madrid Nuevo Norte”, also known as “Operación Chamartín”), in the arbitration initiated by its minority shareholders to request the annulment of certain amendments to the by-laws adopted in the company general shareholders’ meeting.

The award published today dismisses the claim for annulment of the statutory amendment.

The Clifford Chance advising DCN was led by Litigation and Arbitration Partner Fernando Irurzun, who was supported by Counsel Fernándo Giménez-Alvear, Of Counsel Javier García de Enterría, and lawyer Víctor Lana.