Selling shares is a common way to obtain liquidity and restructure a company’s shareholding in Spain. However, it is crucial to consider certain legal aspects before proceeding with the transaction to avoid any potential issues in the future.
Business succession in the framework of asset sales and purchases takes place when a company acquires the assets of another to continue its activities. In Spain, Article 44 of the Workers’ Statute outlines labour and social security obligations of employers and protection measures for workers involved in this process.
The Spanish insolvency reform reduces the liability of company directors for the obligation to convene the general meeting on the grounds of dissolution. The court’s knowledge of negotiations with creditors limits the directors’ liability for corporate debts.
The franchise agreement enhances the franchisor’s distribution of products and provision of services and enables the franchisor to create a uniform commercial distribution network.
The lack of specific regulation on labour matters does not exempt directors from liability if they occur in labour and social security infringements.
Although the center of main interests of a company is presumably its registered office, courts admit refutation of this presumption if brought by the creditors.
It was necessary to create a specific regulatory framework for startups in Spain. They represent the basis of the new digital economy, create highly qualified jobs and have growth potential.
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