Although Royal Decree-Law 5/2021 2021 exempts directors from the duty to file for insolvency proceedings, it does not exempt them from the responsibility to avoid the winding-up of the company.
Author Archive for: Saphira Mouzayek
About Saphira Mouzayek
Having graduated with a Law degree, Saphira Mouzayek’s practice areas are company law and business law. Working languages: Spanish, German and English. For any query Contact Saphira Mouzayek
Entries by Saphira Mouzayek
Pre-bankruptcy mechanisms and labour, corporate or procedural measures can prevent and restrain the high number of insolvency filings expected following the insolvency moratorium in Spain.
Official data reveal a sharp increase in insolvency filings in 2021. Estimates suggest that after the extended moratorium on insolvency proceedings until 31 December, the number of insolvency proceedings will rise significantly.
The possibility of designating a Foreign Director is one of the most pertinent questions for foreign individuals and companies intending to develop a business via a capital company in Spain.
Law 5/2021, dated 12 April, which amends the Revised Text of the Spanish Capital Companies Act, introduces the possibility of holding general shareholders’ meetings exclusively through telematic means.
Royal Decree Law 34/2020, published on 18 November 2020, establishes an extension of the insolvency moratorium (previously established until 31 December 2020) until 14 March 2021.
This informative note deals with the procedural and organizational measures to deal with COVID-19 in the field of the Administration of Justice in Spain, as included in Law 3/2020, of 18 September. We analyze its chapters and summarize their most relevant points.
Royal Decree-Law 8/2020 amends certain obligations of company directors when there is a legal or statutory cause for dissolution or if the company finds itself in a state of insolvency.
The December 2018 reform of article 348 of Real Legislative Decree 1/2010, 2nd July, approving the consolidated text of the Law on Capital Companies, amends and clarifies the necessary conditions for a shareholder’s right to withdrawal due to a failure to distribute dividends in accordance with the mentioned law.