Our insolvency services aim to help clients through these complex and challenging legal processes and achieve the best possible outcome, both from the creditors’ and debtors’ sides.Formal Insolvency and Pre-Insolvency ProceedingsAssessing the financial situation and determining if formal insolvency proceedings are necessary or compulsory under Spanish lawFiling for insolvencyNegotiating with creditors to reach a debt restructuring agreement and avoid bankruptcyPreparing a debt restructuring plan to present to the court if the negotiation with creditors is successfulRepresenting clients in courtIf formal insolvency proceedings result in asset liquidation, guiding clients to maximize the recoveryFinancial RestructuringAssessing the situation and determining the best course of actionDeveloping a financial restructuring plan (including debt restructuring, refinancing, asset sales, or other measures)Negotiating with creditors and stakeholders to achieve the best terms for the financial restructuring plan.Drafting and reviewing contracts (loan agreements, security agreements, etc.)Ensuring compliance with all legal requirements, including bankruptcy and insolvency under Spanish lawsRepresenting clients in courtOngoing legal support as needed (monitoring compliance with the financial restructuring plan and advising on future financial planning)Out-Of-Court WorkoutsReviewing the debtor’s financial situation, assessing the strengths and weaknesses of the creditor’s claims, and advising on how to approach negotiationsDrafting and reviewing the settlement agreement, ensuring its enforceability and coverageIf necessary, advising on the tax implications and how to structure the settlementAdvising on general and specific regulatory compliance depending on jurisdiction and sectorRepresenting our clients in court if negotiations failDistressed Acquisitions or DisposalsConducting due diligence to identify potential legal, financial, or operational risks associated with the target companyNegotiating and drafting the transaction documents (purchase agreement, asset purchase agreement, merger agreement, etc.)Ensuring compliance with bankruptcy and restructuring regulations in SpainIf necessary, assistance with regulatory compliance (antitrust clearance, approvals from industry regulators, etc.)Advising on labour and employment issuesConsidering tax implicationDirectors’ DutiesWe provide guidance and advice to directors on their duties regarding, among others:Corporate governance, including the establishment of board and committee charters and the procedures for director electionsCompliance with Spanish laws and regulationsConflicts of interest and how to manage and disclose them appropriatelyRisk management, identifying potential risks and developing policies and procedures to mitigate themAssessment regarding personal liability as to the insolvency deficitLitigation in cases of breach of dutiesWe guide you through every step of your insolvency process in Spain. Send us your query on Insolvency Law