Restructuring & Insolvency Newsletter - December 2018
Spain -
The Directorate-General for Registers and the Notarial Profession relaxes the requirements for registration of assets acquired during insolvency proceedings
This is therefore a new step forward by the DGRN in seeking to strike a balance between the necessary rigor that must prevail in the Spanish registration system and the legal certainty needed for the recipients of assets during insolvency proceedings.
Judgments of interest
- There is no abuse of law by former shareholders claiming indemnity from the company after guaranteeing company debts
- To be treated as a specially related party (insider) at the insolvent company due to belonging to the same group of companies, it is necessary for the creditor to belong to the group when the claim arises
- A fault-based assessment of an insolvency proceeding does not necessarily determine an order for the directors to pay the insolvency shortfall
- Only the courts of the member state where the insolvency proceeding opens are allowed to hear action to set a transaction aside
- A subordinated claim transferred to SAREB retains its classification if it had already been recognized as a subordinated claim and the period for challenging the list of creditors has expired
News, publications and events
- Juan María Jiménez, new partner in the Garrigues Restructuring and Insolvency Department
- Garrigues restructuring and insolvency specialists among the top lawyers in Spain on the Best Lawyers list
- International Financial Law Review (IFRL 1000) has singled out three of our partners in the Restructuring and Insolvency practice area, in which Garrigues is regularly ranked as tier 1
- Garrigues takes part in a seminar on the possible impact of Brexit on Spain focusing on restructuring and insolvency matters
- Adrián Thery joins Francisco J. Garcimartín and Amparo López Senovilla as participants in a seminar cycle at FIDE on the Proposal for a Directive on restructuring and second chance
- Presentation of a work on pre-insolvency and insolvency law for capital companies (Derecho preconcursal y concursal de sociedad mercantiles de capital)
- Adrián Thery joins speakers Aurelio Gurrea, Diego Comendador and Matilde Cuena in a roundtable discussion at FIDE on insolvency law issues in Spain.
- Adrián Thery and Juan Verdugo will take part as speakers in the Cátedra Garrigues on Modernization of Companies Law hosted by the Universidad Pontificia de Comillas-ICADE
- Adrián Thery to speak at Real Academia de Jurisprudencia y Legislación in a seminar on the subject of corporate governance and capital structure
Contacts
