A consumer credit agreement (CCA) is an agreement whereby a creditor grants or undertakes to grant credit in the form of a deferred payment, loan, credit facility or any other equivalent way of financing in favour of a consumer.
Author Archive for: Alberto Alvarez
About Alberto Álvarez
A licensed attorney with a Master's degree in International Business Law, Alberto Álvarez is specialized in the areas of mergers and acquisitions, insolvency and restructuring, company law and commercial contracts. Working languages: Spanish, German, and English. For any query Contact Alberto Ávarez
Entries by Alberto Álvarez
Three partial reforms of the Spanish Insolvency Law have already been approved by means of Royal Decree-Laws dated on March 2014, September 2014 and February 2015. The three main purposes sought are: enhancement of prepetition restructuring deals; extension of pre-insolvency refinancing agreements to composition agreements and offer a second chance for individual creditors.
On 8 March 2014, Spain’s Royal Decree-law 4/2014 on urgent measures concerning the refinancing and restructuring of corporate debt (the New Reform) was published in an attempt to improve the Spanish Insolvency Law. The New Reform recognizes that there existed a degree of inflexibility within certain aspects of Spain’s pre-insolvency and insolvency regimes that was […]
On December 13, 2013, the Spanish Council of Ministers adopted the Royal Decree on the Development of the Determined Aspects of Law 5/2012, of July 6, 2012, on Mediation in Civil and Commercial Matters (the “Regulation”). Among other things, the Regulation develops the training requirements for access to the Civil and Commercial Mediator Registry as […]
Law 14/2013, of September 27, 2013 to support entrepreneurs and internationalization (the Entrepreneur Support Act) introduced the position of the bankruptcy mediator. To understand the context framing this position, we refer briefly to the Entrepreneur Support Act. The Spanish Legal Bulletin (BOE) published this Law on September 27, 2013, affecting a multitude of laws including […]
The benefits of belonging to a group of companies are well known. The integration of companies within a group not only improves each of the companies individual competitive position within their respective market but also (and most important) represents an upgrade of their position when dealing with third parties and in particular regarding the access […]
Insolvencies in Spain are still on the rise. According to the latest report from the Spanish National Statistics Institute, insolvencies reached a seven year high in 2012. While 6,197 debtors filed for insolvency in 2009, 8,726 debtors went into insolvency in 2012. Even compared to 2011 (6,863 insolvencies), these numbers mark an increase of more […]