Publications - Restructuring and Insolvency
NPLs and REOs: LatAm, Spain and Portugal wake up to debt market new normal
Transactions with non-performing loans (NPLs) started to take off in the second quarter of 2021, especially in Spain and Portugal. The gradual fading in continental Europe of the health impact of COVID-19, combined with the progress made in…
Madrid’s commercial courts approve their good practice guidelines for sales of productive units in insolvency proceedings
On January 22, 2021 Madrid's commercial court judges approved a set of agreed procedures for handling insolvency proceedings in which liquidation is requested together with the insolvency order, as well as a number of criteria for transfers of…
Restructuring and Insolvency Newsletter - April 2021
What has COVID-19 changed for companies in Spain from a legal standpoint?
One year after the state of emergency was declared in Spain due to the spread of COVID-19, Garrigues analyzes the regulatory changes companies face both now and post-pandemic.
NPLs and REOs in Latin America, Spain and Portugal: 2021, a year of transition for debt markets
Debt markets continue to feel the calming — even sedative — effects of the battery of support measures rolled out to counteract the decline in business activity due to the effects of COVID-19. Jumbo deals involving non-performing loans (…
Spanish insolvency pre-pack new feature: appointment of a silent administrator
The judges of the Commercial Courts of Barcelona have released a set of basic guidelines for conducting Spanish insolvency pre-packs in that forum, by introducing the feature -of optional use- of the silent administrator. The guidelines were…
Commercial judges in Catalonia add to publicity and transparency requirements for transfer of business unit processes
The decision adopted on October 1, 2020 by commercial judges practicing in Barcelona, Tarragona, Gerona and Lérida states that insolvency receivers, owners or lawyers must report to the Directorate General for Industry of the Catalan Generalitat…
Restructuring and Insolvency Newsletter - January 2021
COVID-19: Review of the year that changed everything and trends for 2021
2020 has been a year like no other. The world health emergency caused by the spread of COVID-19 and the resulting declaration of a state of emergency (lockdown) in Spain in March 2020 brought an unprecedented whirl of legislative activity. Companies…
COVID-19: New extraordinary and temporary measures adopted in Portugal within the area of the recovery of companies suffering financial hardship or insolvency
Law nº 75/2020, published in the Official Gazette in November 27, 2020, and in force from November 28, 2020 to December 31, 2021, has established the following:
NPLs: Portfolio deals will increase due to COVID-19
In the wave of the COVID-19 pandemic, there has been a significant increase in debt held by both consumers and companies. Over the coming years, we expect to see a large number of debt and distressed asset deals. In this viewpoint, Garrigues…
Restructuring and Insolvency Newsletter - October 2020