Restructuring & Insolvency Newsletter - July 2018 | News and events

R&I partner Adrián Thery appointed co-president of Insolvency Section at Madrid Bar Association

Madrid Bar Association's governors appointed Adrián Thery co-president of the Insolvency Section, alongside lawyer and economist Pedro Bautista Martín Molina.

Garrigues, present at top international restructuring & insolvency events

Lawyers from the Garrigues Restructuring & Insolvency department have actively taken part over recent months in the top Spanish and international restructuring & insolvency events.

R&I partner Adrián Thery spoke at a roundtable on relocating the registered office and pre-insolvency and insolvency procedures (Traslado de domicilio y procedimientos preconcursales y concursales), as part of a conference organized by Universidad Complutense de Madrid on April 26 and April 27.

Similarly, R&I partner Borja García-Alamán spoke on a panel on the subject of Insolvency Round-Up, at the Annual International Lending Conference, organized in London by the Commerce Finance Association between May 15 and May 17. This time specific subjects of interest to secured creditors were dealt with such as incentives to new money in the Spanish pre-insolvency and insolvency system, the debt roll-up option in refinancing and insolvency scenarios (by comparison to practice in the U.S.), the sale of units of production and retaining the right to separate enforcement, and directors’ liability in the Spanish insolvency proceeding.

On May 18, under the Bulgarian presidency of the European Council, an event was organized in Varna (Bulgaria) on the Main challenges and trends in insolvency proceedings, restructuring and second chance). Representing Garrigues, partner Adrián Thery spoke on Panel 1, Preventive restructuring procedures – A balancing act, with a talk on Improving the chances of a plan being adopted while protecting creditors in cross-class cram-down plans.

And again on June 7, Adrián Thery took part on a panel on the subject of pre-insolvency restructuring for distressed companies (La reestructuración pre-concursal de empresas en crisis), at an event organized by the Cámara de Sociedades Anónimas in Buenos Aires (Argentina). At the same event, Iván Heredia gave a talk on cross-border insolvency/restructuring for multinational enterprise groups in Europe and Latin America (Reestructuración concursal transfronteriza de grupos de empresas multinacionales en Europa y Latinoamérica).

Upcoming events

Adrián Thery is speaking on a panel regarding the current situation of NPLs in the European Union at the Insol Europe 2018 Annual Congress, on the theme of Breaking the chains, to be held on October 4 through October 7 2018 in Athens, Greece.