Risanamento SpA (RN.MI), an Italian real estate developer that is facing bankruptcy saddled with debts of more than EUR2.8 billion, said Wednesday that the group of creditor banks that may take control of it in the following weeks is going to grant EUR94.9 million of fresh liquidity.

The board of Risanamento Wednesday approved a four years restructuring plan that is going to be presented to the Milan bankruptcy court in the following days.

In a statement Risanamento said that the creditor banks, which includes Italy's two largest lenders UniCredit (UCG.MI) and Intesa Sanpaolo (ISP.MI), will deposit the money once the Milan court approves it.

Risanamento had the deadline for submission of its restructuring plan postponed to Sept. 9 by a Milan court, people familiar with the matter said Tuesday.

-By Sabrina Cohen, Dow Jones Newswires, +39 02 5821 9906; sabrina.cohen@dowjones.com
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