Entries by Insolvency Law

The New Liquidities in Insolvency Proceedings in Spain

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 […]

New regulation of the Spanish Insolvency Public Register

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.

New Spanish Public Registry for Bankruptcy

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 […]

Creditors’ compulsory liquidation proceedings in Spain

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 […]