Commercial judges in Catalonia add to publicity and transparency requirements for transfer of business unit processes
Spain -
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 government regarding any companies with operating business units that have given a pre-insolvency notice, are in insolvency proceedings or other difficult situations, remotely on a standard form with the company’s main particulars.
This gives them tools for providing information to parties interested in investing in companies in distress and other particularly difficult situations, and to disseminate business opportunities.
Contacts
