Insolvency proceedings without assets, formerly express insolvency proceedingsCreditors with at least 5% of liabilities can request a judge to appoint an insolvency administrator for a report in case of insolvency without assets. Note that the requesting creditors will cover the administrator’s fees.Read more
New bankruptcy moratorium in Spain until 30th June 2022The Government of Spain has extended the bankruptcy moratorium for the third time until 30th June 2022. Insolvency debtors will not have a legal obligation to file for bankruptcy until the middle of next year.Read more
Mechanisms and measures to prevent corporate insolvency in SpainSpain provides companies with a range of economic, labour, contractual, corporate, procedural and fiscal measures. The Covid-19 legislation complements them with new economic and procedural measures to prevent corporate insolvency.Read more
Liability for transfer of undertaking in insolvency proceedingsWe analyze the numerous judgements of the High Court regarding the existence or not of transfer of undertaking when a company acquires a productive unit of another company in the liquidation phase of the insolvency proceedings.Read more
Legal framework for restructuring and insolvency proceedings in SpainThe legal framework for restructuring and insolvency proceedings governs the reorganization of debt. An insolvency proceeding is an in-court-restructuring procedure that consists of obtaining an insolvency order from a judge. An out-of-court restructuring is where a debtor negotiates directly with its creditors.Read more
Developments in the legal framework of restructuring and insolvency proceedings in SpainBy the introduction of a new law, the Spanish legal framework on restructuring and insolvency proceedings is more adjustable to a debtor facing bankruptcy. Still, the difficulty of implementing a complete legal framework lies in covering all possible situations of insolvency.Read more
Duties and Liabilities of Directors in Insolvency Proceedings in SpainThe current Spanish Insolvency Law raises directors’ liability levels. Hence, directors must not only manage the company but also address legal aspects to prevent liability in insolvency proceedings.Read more
Guidelines and tips to follow in an insolvency proceeding in SpainThis article delves into crucial aspects of insolvency and debt collection proceedings in Spain. It highlights the practical challenges faced by economic actors, emphasizing the decision-making process between liquidation and reaching agreements with creditors, which can be influenced by the type of creditor involved. The article also briefly touches on the limited effectiveness of insolvency proceedings in family debt cases.Read more
