The contracting of representations and warranties insurance is an option that has been increasing during the last years in the framework of M&A operations. This is due to the great advantages it offers for both parties, although there are also some drawbacks that need to be kept in mind.
The installation of photovoltaic power stations (solar parks) or wind energy farms requires the formalisation of a contractual relationship between the developer and the owner of the designated land. Through its advantages, the contract for the transfer of surface rights has acquired great prominence over sale or rental contracts.
Unsuccessful enforcement by the creditor implies the existence of a title by which enforcement has been effected, without sequestration resulting in sufficient unencumbered assets for the payment of the outstanding credit.
Companies will have the possibility to establish a double salary scale based on the date of incorporation of the employees, as long as they respect the provisions of the applicable law and collective agreements.
The use of representation and warranties insurance (R&W) is becoming more and more frequent in Spain in the field of the purchase and sale of companies. The premiums increase, costs reduction or process simplification are some of the reasons for their growth.
Improvements to the availability of universal basic services and the reduction of the “digital divide” are key reasons for the increasing interest in rural areas in Spain. Solving the challenges presented by depopulation, ageing and the relocation of the younger generations from rural areas will improve investment opportunities.
The working time register is an amendment to Article 34 of the Workers’ Statute. This measure provides that companies in Spain must ensure compliance with the established limits on working time.
Article 17.1 in the Law of Construction Planning, “Responsibilities and guarantees,” regulates the civil responsibility of the agents involved in the construction process as well as the deadlines for dealing with them.
Any shareholder holding a certain percentage of the company (5 % in the case of limited liability companies, and 1 % in the case of public limited companies, unless statutory provisions have reduced these percentages) is entitled to require the administrators to have a notary present to record the minutes of the general meeting.
Passporting rights allow banks, companies and financial services firms to operate their business in any EU or European Economic Area country. Brexit would imply the loss of these rights, forcing these companies to leave the UK.