Publications - Restructuring and Insolvency
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-…
Funds buying mortgages can claim the whole debt in Catalonia also
The Constitutional Court has held unconstitutional a provision in a law passed by the Catalan parliament which, if a loan secured with a home is sold to a third party (a fund usually), allowed the debtor to be released from their debt by paying the…
Restructuring & Insolvency Newsletter - December 2018
Restructuring & Insolvency Newsletter - October 2018
Restructuring & Insolvency Newsletter - July 2018
Spain: Insolvency Litigation Funding
The economic crisis that started to engulf Spain in 2007, which the country has been shaking off little by little, has spurred players in the restructuring market to step out of their comfort zone and go down lesser-trodden paths in Spain. This…
The funds will be able to recover NPL's more quickly following a decision by the Directorate-General of Registries and the Notarial Profession
Garrigues detected that there was no clear guideline that allowed notaries to issue another enforceable copy of the mortgage deed to funds that had acquired NPLs.
Restructuring & Insolvency Newsletter - May 2018
NPLs: Second progress report by the European Commission and package of measures to accelerate the reduction of NPEs
On March 14, 2018 the European Commission presented the Second Progress Report on the reduction of non-performing loans (“NPLs”). The report comprises a memo and a factsheet, whose versions in English can be obtained on the…
Brexit and the end of the transition period: insolvency and pre-insolvency impacts from December 31, 2020 onwards
On February 28 last the European Commission published the Draft Agreement on the withdrawal of the United Kingdom from the European Union (“EU”). This draft, based on the Joint agreement submitted by the the negotiators of the EU and the…