Bankruptcy
Delay in the Bankruptcy Procedure´s Application
The Directors have a two months term starting when they knew or should have known the insolvency situation.
Pre-Bankruptcy Procedure (also known as 5Bis)
The beginning of the negotations established in article 5Bis LC prevents the start of new enforcements and suspends those that are in process.
Royal Decree 16/2020 on Procedural Measures, Blade Runner and Desperate Lawyers
since March 14th, 2020, the terms and deadlines for proceedings have been suspended. This has paralysed the entire administration of justice, suspending deadlines, trials, proceedings, executions, collections, etc.
Directive on Preventive Restructuring
Preventive restructuring is essential in Europe. 90 percent of bankruptcies end in liquidation.
Rescission in the Bankruptcy Procedure. The Reintegration
The purpose of the rescission action is to prevent the debtor, in anticipation of insolvency, from safeguarding assets, hurting creditors.
The homologation of refinancing agreements
The homologation of refinancing agreements "tried" to become a pillar of the survival of the Spanish business sector. This is how the 4th Additional Provision of the Bankruptcy Procedure Law
The Agreement with Creditors in the Bankruptcy Procedure
The agreement between the debtor and its creditors modifies the circumstances of the credits subjected to the Bankruptcy Procedure. This agreement, if fulfilled, is a way of ending a Bankruptcy…
Imbalance as a cause of dissolution
An asset imbalance as cause of dissolution arises when, company’s losses within a financial year reduce equity below the company's share capital value.
Effects of the Bankruptcy Procedure Declaration on Contracts
The most decisive effects of the declaration of the concussion for the continuity of the bankrupt are those that fall on the contracts.
The debtor’s duty of collaboration and information
The most important consequence that the breach of the duty of collaboration brings is the classification of the contest as guilty.
