International bank guarantees and bankruptcy proceedingsThe purpose of this article is to provide an answer to the legal uncertainty that many foreign businessmen have when establishing commercial relations with Spanish companies, as well as the lack of knowledge of current bankruptcy legislation.Read more
Manager’s Liability within the Framework of Bankruptcy Proceedings in SpainThe recent Spanish Bankruptcy Law expands the examination of company managers’ liability, supplementing existing provisions in the Public Limited Company and Limited Liability Company Laws, as well as the Criminal Code, within the context of corporate crime. It introduces a classification section in bankruptcy proceedings where the judge assesses the involvement of company managers in the company’s bankruptcy situation.Read more
Bankruptcy proceedings and their possible effect on prior leveraged buy-out operations in SpainIn recent years, Spain has witnessed a surge in leveraged buy-outs (LBOs), where a majority share of a target company is acquired using loans guaranteed by its assets or repaid through its cash flows. In some cases, the acquisition cost is deferred and paid by the target company itself, often through a merger with a special purpose vehicle created by the investor. This strategy shifts the burden of the acquisition cost to the target company.Read more
