The state of insolvency obliges companies to apply for the insolvency proceedings. We analyse some facts that can help to identify this status, as well as the most commonly used accounting formulas to predict it: the acid test and the Altman Z-score.
The Bankruptcy Law in Spain regulates the basic aspects and the deadlines within which companies should apply for bankruptcy when their situation does not allow them to fulfil their payment obligations on a regular basis.
In Spain, the dissolution and liquidation of a company become compulsory when it faces insolvency, continuous losses, or failure to meet legal requirements. Companies must adhere to specific procedures to avoid penalties and ensure proper closure. Understanding when and how to initiate this process is crucial for compliance and protecting stakeholders.
Nowadays, harassment is one of the main issues companies must implement. Thus, it is highly recommendable that they establish protocols for its prevention and guidelines to follow whenever misconduct is suspected.
We analyze the numerous judgements of the High Court regarding the existence or not of transfer of undertaking when a company acquires a productive unit of another company in the liquidation phase of the insolvency proceedings.
Due diligence in Spain involves evaluating the financial, legal, and operational aspects of a company before transactions like mergers or acquisitions. It helps identify risks and opportunities. There are several types of due diligence, such as financial, tax, legal, and commercial, each focusing on different business aspects. Proper due diligence is crucial for ensuring informed decision-making.
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In Spain, the Insolvency Law provides for the processing of express insolvency proceedings for those companies with no assets nor properties (or that are of a residual nature), with the corresponding savings in time and costs that ordinary insolvency proceedings would normally entail.
In times of crisis, companies may find themselves in a legal cause for dissolution. In this article, we analyse when they should initiate a bankruptcy proceeding and when they should opt for the dissolution and liquidation of the company.
At the end of the fiscal year, the administrators of the company are responsible for preparing the annual accounts, convene an ordinary general meeting to approve them and deposit the accounts at the Commercial Registry.
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