The Legal 500

On October 11, the Official State Gazette published Law 38/2011 on the reform of Law 22/2003 of July 9 on Bankruptcy that entails a broad and ambitious procedure to modify bankruptcy legislation.

Commercial ………………………….
Strengthening Financial
System
Law on a Sustainable
Economy

Litigation …………………………...
Nullity of bank contracts
known as CLIPS, SWAPS
or Financial Swaps

Labor ……………………………..
Urgent measures to
encourage employment
Law on Economic
Sustainability: reform of
the financial system,
company reform,
modification of the law on
personal data protec

(1) Mercantile: Liberalizing actions in the tax and labor areas in order to encourage investment and create employment. (2) Litigation: Reform of the Penal Code (Organic Law 5/2010 of June 22). (3) Labor: Paternity Leave. Maintenance of employment and professional training. IPREM and SMI for 2011. Self Employed Workers. Pensions. Placement Agencies. (4) Tax: Changes: personal income tax, company tax, income tax for non residents, tax on patrimony transfers and documented legal acts, VAT.

On June 17, 2010, following a rough and eventful passage through Parliament, the Lower House of the Spanish Parliament finally approved a transcendental amendment to the Spanish Corporations Law (to article 105.2) affecting only listed corporations: a prohibition on voting ceilings for a same shareholder (or companies in the same group), regardless of the number of shares they own. 

Antitrust Newsletter 18 (December 2009)

Commercial - Labour - Tax

Law 29/2006 (26 July 2006) on guarantees and rational use of medicinal products and medical devices is the central regulation governing medicinal products. The law still requires development through a large number of Royal Decrees, during 2008 and 2009. Many provisions of Law 29/2006 (such as the sale by post or by telematic means of certain medicinal products) do not appear to be enforceable until such legislation is enacted. This particularly applies to rules on medical devices, which are included in Law 29/2006, but need legislation to be effectively enforced. Such specific legislation is currently being developed, including for medical prescriptions and traceability.

New EC regulation on community trademark. Urgent measures in tax, financial, bankruptcy and employment matters. Amendments to the Spanish Corporation Act (LSA). New taxes approved.