Spanish bankruptcy regulations list the conducts that determine the liability of the directors in bankruptcy proceedings. The consequences of such behaviour include disqualification, loss of rights associated with the position of a creditor of a bankruptcy or a sentence to cover the insolvency deficit.
The capital increase through credit compensation reduces the risk of insolvency and avoids the declaration of insolvency proceedings, thus providing a solution for companies with high liabilities.
A branch is a secondary establishment subordinate to its parent company, meaning that it is an extension of the parent company in Spanish territory and does not require a minimum share capital for its incorporation.
Spain provides companies with a range of economic, labour, contractual, corporate, procedural and fiscal measures. The Covid-19 legislation complements them with new economic and procedural measures to prevent corporate insolvency.
On the 23rd September took place the Iberian Lawyer’s 2021 Forty under 40 Awards that recognized Alberto Álvarez as the Lawyer of the Year Energy.
Opening a branch in Spain does not require a minimum share capital. Opening a subsidiary, on the contrary, requires a minimum share capital of €3.000 for Limited Liability Companies (LLC) or €60.000 for Public Limited Company (PLC).
With the validation of the law on distance work, Spain has modified article 40 of the Law on infringements and sanctions in the social order. The new amounts will enter into force on 1 October 2021 and will have no retroactive effect.
Cash pooling is not formally regulated in Spanish law; this type of contract has particularities with the current account, commercial commission and loan contracts.
Article 18.2 of Law 10/2021 of 9 July on remote work establishes the obligation for companies to have an internal policy defining the modalities of exercising the right to disconnection and the training and awareness-raising actions for staff on the reasonable use of technological tools.
Inexhaustible, harmless, clean, safe, compatible and adaptable are just some of the characteristics of wind energy, a fundamental source of energy for the European and global ecological transition and for which Spain is the leading producer.
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