Spain: : Pre-insolvency in Spain

• Localización: International financial law review, ISSN-e 0262-6969, Vol. 33, Nº. 3, 2014, págs. 64-65
• Idioma: inglés
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• Resumen

  • The article focuses on aspects of debt restructurings in Spain which include the pre-insolvency arrangements (pre-concurso), a preliminary level prior to any formal insolvency process. It mentions the two main effects of pre-insolvency stage such as protection over mandatory insolvency and directors of the debtors are not obliged to submit voluntary insolvency. It also features Spanish private gambling company Codere which filed a pre-insolvency petition in January 2014.