The Legal 500

JJB Sports plc (JJB) is a high street retailer which had fallen into diffi culties and couldn’t determine a mechanism for dealing with the lease costs of its closed stores, which created cash pressures. A rescue of the business would only be possible if its landlords consented to a compromise. However, there had already been other high-profi le failures to achieve landlord consent. We developed a tailored Company Voluntary Arrangement (CVA) which was approved by 99% of creditors. Blane Leisure Ltd’s CVA (a wholly owned subsidiary) was approved by 98% of creditors. No one in attendance at the Creditors’ Meeting on 27th April 2009 voted against the proposal.

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.

What may and may not be protected and registered as a trademark?

-Derecho de participación en beneficio del autor de una obra de arte original.

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)

The approval of the Concurso Law (Ley Concursal) in Spain on 9 July, 2003 was the realisation of a long sought-after aspiration in Spanish property law – namely the reform of the legal instruments for dealing with distressed businesses. Today, only a few years later, day-to-day practice shows that some of the old problems are resurfacing.

Mercantile: New secured amounts in the Deposit Guarantee Fund for Credit Institutions. Tax: Analysis of the draft law to abolish wealth tax, generalise the system of monthly VAT reimbursement and introduce other modifications to tax legislation. Employment: Decisions of the Supreme Court relating to dismissals on economic grounds