Publications - Restructuring and Insolvency
COVID-19: Companies face a return to non-essential activities, new rules on administrative and procedural time periods and the renegotiation of agreements
The situation created by the spread of COVID-19 requires an analysis of the new legislation from all angles of business law. For another week running, Garrigues summarizes the key new legislation that companies need to be aware of over the coming…
COVID-19: Companies should be aware of new deadlines and deferrals, as well as to covenant review, analyzing carefully their financial situation
A constant stream of new legislation is being approved that affects businesses. Every week Garrigues provides a summary of the main issues that companies need to take a look at over the coming days. This week we feature the new legislation approved…
COVID-19: Companies face new employee-related measures, the first tranche of guarantees and the beginning of the personal income tax season, among other news
The toughening of lockdown measures in Spain and resulting closure of all business activities not classed as essential makes it absolutely necessary to keep very much in sight this week the measures approved in the labor and employment field. In the…
COVID-19: What should companies be aware of in the next few days?
The global health alert triggered by the spread of the new coronavirus known as SARS-CoV-2, which causes the disease COVID-19, is creating great challenges for companies. Governments around the world are tackling the situation by approving drastic…
Spain: Royal Decree-Law 8/2020 of March 17, 2020 launches urgent and extraordinary measures to confront the economic and social impact of COVID-19
The March 18, 2020 edition of the Official State Gazette has published Royal Decree-Law 8/2020 of March 17, 2020 on urgent and extraordinary measures to confront the economic and social impact of COVID-19. The decree-law comes into force on its…
Restructuring & Insolvency Newsletter - December 2019
The Supreme Court lifts the protection enjoyed by public claims in ‘fresh start’ scenarios
On July 2, 2019, the Supreme Court delivered a landmark judgment dealing with the requirements to be met to secure the discharge of debts through the so-called ‘fresh start’ mechanism. Under Spanish law, ‘fresh start’ refers…
Acquiring distressed companies’ business units, a guide
We look at the differences and advantages of the Spanish and UK systems, pinpointing the more favorable elements of the Spanish system, designed to give greater security and certainty to the investor.
Restructuring & Insolvency Newsletter - June 2019
The ECJ allows Spanish courts to preserve mortgage foreclosure proceedings in the event of early termination of consumer mortgage loans
A judgment of the Court of Justice of the European Union (ECJ) confirms the possibility of replacing an unfair early termination clause in a loan agreement by the application of article 693.2 of the Spanish Civil Procedure Rules (LEC), declaring…
Restructuring & Insolvency Newsletter - March 2019
The new Spanish Real Estate Credit Act will modify underwriting and modelling processes of non-performing-loans (NPLs)
The New Real Estate Credit Act, passed by the Spanish Parliament on February 21st 2019 includes a set of brand new rules that will have a direct impact on the underwriting and modelling processes of secured lenders, namely the buyers of non-…