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Spain has recently been referred to as one of the "hottest" European countries in terms of debt sales, specifically of non-performing loans. This should not come as a surprise in a scenario in which independent audits as of June 2012 revealed a EUR 62 billion capital shortfall in Spanish banks and in which the Spanish rate of non-performing loans stayed above eight per cent of all loans.
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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.
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OPINION - ON DATA IN THE CLOUDS OR DIGITAL PHOTOCOPIERS
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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.
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The employer has the possibility to contest the candidate lists in the
event that a candidate does not comply with the conditions for
eligibility. The Supreme Court recently confirmed that this is only
possible within the strict terms provided in the social elections
procedure.
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Commercial
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Urgent Measures for the reform of collective bargaining.
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Commercial
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Strengthening Financial
System
Law on a Sustainable
Economy
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(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.
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We live in a globalized world where people, goods and money can move freely between national borders. It is perfectly possibly to buy a computer manufactured in Tokyo from a sales company established in Bangladesh, while sitting outdoors on a terrace in Rome. In this context, with transnational commerce and business relations constantly expanding, it is logical that international litigation is becoming increasingly commonplace.
C/NUNEZ DE BALBOA, 120, 5º, 28006 MADRID, SPAIN