The Economic Unit: Fundamental Pillar in Partial Spin-offsThe economic unit encompasses the active and passive elements constituting a ‘company’ or ‘autonomous productive unit’ within the company. The transfer of an authentic economic unit is an essential requirement for partial spin-offs in Spain.Read more
Regulation of Cryptocurrencies in SpainCurrently, few regulations govern the cryptocurrency sector in Spain. There is a legal vacuum, so companies working with cryptocurrencies are not subject to strict supervision or control by public institutions.Read more
End of the insolvency moratorium in Spain: consequences for debtorsThe bankruptcy moratorium in Spain, in force since 14 March 2020 and already extended several times, ends on 30 June 2022.Read more
End of the moratorium on insolvency proceedings in Spain: consequences for creditorsAfter the insolvency proceedings begin, creditors have a one-month limit to communicate their claims against the insolvent debtor.Read more
The foreign creditor in bankruptcy proceedings in Spain (3): Termination of contractsRegarding the termination of contracts with reciprocal obligations in the context of bankruptcy declaration, the Spanish regulations distinguish between contracts pending fulfilment by one of the parties or by both parties.Read more
The foreign creditor in bankruptcy proceedings in Spain (2): The communication of creditThe deadline for the communication of credit by the foreign creditor is one month after the publication of the declaration of bankruptcy in the Spanish Official Gazette (BOE). Although it is not mandatory, the foreign creditor should make such communication for its qualification and subsequent payment.Read more
The foreign creditor in bankruptcy proceedings in Spain (1): Bankruptcy processingDeclaring insolvency proceedings in Spain entails its consideration as “main bankruptcy” and implies the inclusion of the debtor’s assets, regardless of whether or not they are in Spain, and that, with certain exceptions, Spanish law applies.Read more
The foreign creditor in bankruptcy proceedings in Spain (4): Liability of debtors and directorsSpanish bankruptcy regulations list the conducts that determine the liability of the directors in bankruptcy proceedings. The consequences of such behaviour include disqualification, loss of rights associated with the position of a creditor of a bankruptcy or a sentence to cover the insolvency deficit.Read more
Arbitration in Spain in times of COVIDDuring the COVID-19 pandemic, arbitration stands out as an advantageous alternative to settle legal disputes between companies. The ordinary jurisdiction has suffered a slowdown in its processes and does not provide the fast and effective response demanded by current market operators.Read more
What is an E-Money Institution?Electronic money institutions are companies authorized by The Bank of Spain. Their main activity is to transform customers’ money into electronic money on a commercial basis.Read more