Author Archive for: Insolvency Law
About Insolvency Law
Mariscal & Abogados specialises in providing legal counsel and assistance to both creditors and debtors on insolvency and bankruptcy proceedings in Spain. If you have a query, do not hesitate to Contact us.
Entries by Insolvency Law
Currently, only 50% of the new liquidities invested in refinancing have an insolvency privilege, which implies that the credits must be paid according to their due date. This percentage reaches 100% temporarily to give this liquidity the best protection. The goal is to stimulate additional financing, which is necessary to guarantee the temporary viability of […]
The Royal Decree Law 829/2013 regulates the Spanish Insolvency Public Register. The aim of this Law is to provide more transparency on public bankruptcy results and proceedings. This Register will collect information related to bankruptcy proceedings in Spain. This collection will provide public access to more accurate information about the entities involved in bankruptcy proceedings.
The Official Spanish State Bulletin (BOE) published the Royal Decree 892/2013, which regulates the Public Registry for Bankruptcy. This new Decree will allow banks, consumers, partners, and creditors to have access to any official information about insolvencies online. On December 3, 2013, the BOE published the Royal Decree 892/2013 of November 15, which becomes effective […]
To understand the so-called pre-bankruptcy process, consider the provisions of Article 5.1 of the Spanish Insolvency Law (IL). Under this Article, The debtor must request the declaration of insolvency within two months from the date on which the debtor had become aware or should have been aware of its insolvency. A debtor is insolvent when unable […]
The answer is yes. According to Article 5 of the Insolvency Act 22/2002 of 9 July, the debtor has the obligation to request the declaration of insolvency within two months of the date on which the insolvency was known or should have been known. It is certain that the period of time from when the […]
Small and medium-sized enterprises (SMEs) are well known for playing a major role in all economies, being the key generators of employment and income. As a result, SMEs are crucial for the economic recovery. According to the information provided by the Spanish General Directorate of Industry and SMEs (Dirección General de Industria y de la […]
New legislation came into force on 1 January 2012, although certain provisions have been in force since 12 October 2011. The law is a response to the current economic crises and priority in reform appears to be have been given to rules that will have a beneficial economic effect for the country. The aim is to standardize the […]
Unlike creditors’ voluntary liquidation proceedings which are commenced by the debtor, creditors’ compulsory liquidation proceedings in Spain are those which are requested by a legitimate creditor in accordance with Article 3.1 of the Law 22/2003 (the Insolvency Act). The Insolvency Act defines insolvency as when the debtor is unable to regularly comply with his obligations when they become due and payable (liquidity […]
This article contains a summary of the principal measures introduced by the Procedural Streamlining Measures Bill in Spain, which is intended to improve, streamline and speed up current procedures in the spanish Civil and Contentious Administrative Systems in Spain.