The shareholder’s right to withdrawal in Spain for non distribution of dividendsArticle 93 a) of the Spanish Companies Law (LSC in Spanish) expressly recognizes the shareholders’ entitlement to participate in company profit-sharing. Nevertheless, it is not an automatic entitlement, since, in principle, …Read more
Key points of the labour reform in SpainDespite various labor reforms in our country, the anticipated positive outcomes have not materialized. Unemployment figures for 2012 remain below expectations, and escalating financial pressures in the Eurozone and Spanish debt heighten uncertainty. The effectiveness of the new law remains to be seen, as we await its impact on meeting expectations.Read more
Reform of the Arbitration Reform Act in SpainThe reform outlined in Law 11/2011, dated May 20, 2011, does not bring about drastic changes to the existing arbitration system. Nevertheless, it introduces significant advancements with the ultimate aim of fortifying and encouraging arbitration in Spain, seeking to establish the country as an appealing destination for international arbitration cases.Read more
Long-Awaited Amendment to Insolvency Legislation in Spain: Is it Sufficient?The Law introduces positive changes to financing agreements and restructuring but fails to address critical issues. Inadequate resources for the Justice system and the absence of solutions for individual debt problems persist. Additionally, the underutilization of the restructuring procedure contributes to low satisfaction among ordinary creditors.Read more
Note to the Partial Reform of the Law of Capital Companies in SpainOn 2 October 2011, Law 25/2011 of August 1 came into force. This law provides for the partial reform of the Capital Companies Act and the transposition of Directive 2007/36/EC …Read more
The Procedure of Debt Recovery in the European UnionWhile there have been reported instances of using the EOPP, the full potential and utility of these new procedures are yet to be realized. They seem to be infrequently employed and not widely known. Only time will reveal whether they will evolve into a cornerstone of the European Union’s civil debt recovery.Read more
Enforcement of Foreign Judgments in SpainDetermining jurisdiction in international disputes and recognizing/enforcing foreign judgments can be complex. To streamline this process, it is advisable for parties in cross-border agreements to thoroughly agree on jurisdiction and applicable law in case of a dispute.Read more
Regulation Concerning Temporary Transfer of Workers AbroadArticle 40 of the Workers’ Statute in Spain requires a valid justification, such as economic, technical, organizational, or production reasons, or contracts related to the business, for the geographical mobility of workers who were not hired explicitly for mobile workplaces or travel to a different workplace within the same company, involving a change of residence.Read more
New Incoterms Rules for International ContractsIncoterms are trade terms arising from business practices whose scope is limited to the rights and obligations of sellers and buyers in sales contracts. They are not laws, but rules …Read more
Creditors’ compulsory liquidation proceedings in SpainIn Spain, creditors’ compulsory liquidation proceedings differ from creditors’ voluntary liquidation, as they are initiated by a legitimate creditor following Article 3.1 of the Law 22/2003 (the Insolvency Act).Read more
