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Spanish Bankruptcy Act reform
Chapter IV, Title III of the Bankruptcy Act (hereinafter, the "BA") regulates the filing of actions against the activity of debtors declared bankrupt in order to return to the bankrupt estate certain assets which the legislator considers should never have been taken away.
MERGER PROCESSES OF SAVINGS BANKS:
LEGAL ISSUES ON THE RESTRUCTURING OF THE FINANCIAL SECTOR IN SPAIN
The Spanish Insolvency Law
The Spanish Insolvency Law (Ley Concursal) attempts to reconcile two conflicting aims: on the one hand, the traditional aim pursued by formal insolvency processes of satisfying creditors by levying collective, orderly and universal execution against the debtor’s assets, and on the other, the more modern aim of preserving the company.
Financial Market Updates
As published in the Spanish Official State Gazette on November 8, the Executive Committee of the Fund for Acquisition of Financial Assets (the “Fund”) has convened the first two auctions for the acquisition of assets for November 20 and December 11, with the following characteristics. (See attached document)