Spain Creates Specialist Commercial Courts

There have been significant legislative developments in the Spanish judicial system over the last few years.

These developments began with the enactment of the Civil Procedure Act 7/2000, of 2000, which entered into force in 2001, repealing the old Civil Procedure Act of 1881.

On July 9, 2003, a new Insolvency Act was passed (Act 22/2003). This Insolvency Act, which took effect on September 1, 2004, intends to bring Spanish legislation in line with insolvency systems of other Western European countries and triggers a radical change in the country’s antiquated insolvency legal regime. One of the most important developments is the simplification of the old procedures (which separated civil and commercial insolvency and bankruptcy from temporary receivership) through the introduction of a new, singular, insolvency procedure.