Flight restrictions of drones in Spain

The new law regarding the use of drones in Spain regulates commercial, non-commercial and recreational use of drones. This regulation includes aerial works which can be performed with drones, as well as the restrictions that every user of drones must take into account when handling such devices. The fines for not complying with the restrictions can reach a height of €225.000.

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Real estate investment companies increase their profits

In 2015, large real estate investment firms tripled their profits compared to the former year. Their profitability through dividends and the recovery of the real estate sector in Spain predict new profits once again this year for these investment vehicles in real estate assets for rent.

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Court approval of refinancing agreements in Spain

The majority of Spanish bankruptcy proceedings end in favor of the debtor. The preliminary phases aim to achieve continuity of businesses that are in critical financial situations. Judicial approval is tantamount to a quasi-automatic resolution of a refinancing agreement, which put minority dissenting creditors at major disadvantages.

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Listing Obligations for Spanish REIT (SOCIMI)

The requirements for admission to trading and maintenance of a Spanish REIT (SOCIMI) in the MAB (Alternative Stock Exchange Market) establishes, amongst others, the obligation of a SOCIMI to sign a contract with a liquidity provider, in order to boost liquidity and reduce price variations not resulting from actual market trends.

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Is investing in SOCIMIs (REIT) profitable?

SOCIMIs (Sociedades Anónimas Cotizadas de Inversión Inmobiliaria or Real Estate Investment Trust) are public limited companies whose main activity is the acquisition, promotion, and rehabilitation of real estate for lease. The evolution of this type of investment over the last year has become key in the real estate sector given its stable profitability and liquidity.

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Out-of-Court Restructuring in Spain

In 2014, the Spanish government implemented the out-of-court restructuring procedure through the Royal Decree Law. Its objective is to help debtors avoid bankruptcy by negotiating with their creditors. Given the time and effort it takes, an out-of-court restructuring can be very favourable to both parties.

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