A new regime is being introduced in order to give some unapproved refinancing agreements judicial validity. The new regime will enter into force before the effective date of the Real Decree Law; however, the previous regime will still apply unless the parties choose otherwise.
The dissolution of a company in Spain as a result of losses, in particular in times of an economic crisis, requires certain procedures to be followed. The Corporate Enterprises Act (LSC) highlights different methods of dissolving a company depending on what type of company it is.
The judgment of the European Court of Justice of March 14, 2013 declared that the measures in Spain that regulate foreclosure proceedings for default of a mortgage are contrary to the European legislation on consumer protection.
An employment contract is a part-time contract where there exists an agreement to provide services during a certain number of hours a day, week, month, or year minus the number of working hours of a comparable worker employed full-time. Part-time contracts are attractive alternatives to reduce labour costs for employers.
Regarding International taxation and customs control in Spain, certain concepts have been highlighted such as the abusive use of internal and international regulations, the control actions, the transfer prices as well as other control measures.
The mechanism for legal ratifcation of the refinancing agreement was reviewed under the Real Decree-Law. One of its amendments included extending the effects to non-participating creditors (without collateral) and clarifying its scope via vis-Ã -vis creditors (with collateral). This mechanism is making the conversion of credits into equity loans much more efficient in Spain.
Spain represents a suitable place to establish e-commerce activity due to its special VAT rates and its regulation concerning electronic commerce, which both the General Law in Defense of Consumers and Users and the Law of Services of the Information Society support.
The dissolution of any capital-based company in Spain which incur into losses has reduced the equity amount significantly. It would be beneficial for partners of the companies to either contribute to offset losses or to increase the capital of the company by contributing and receiving shares in the company. However, this implementation can face some challenges due to the varied type of losses.
The Royal Decree-Law incorporates tax measures designed to enhance the legal pre-bankruptcy framework for refinancing agreements. These measures seek to facilitate consensus between debtors and creditors, maximizing asset value and minimizing or deferring liabilities to prevent insolvency.
Online advertising and marketing strategies are increasing in Spain, and thus represent ideal opportunities for businesses. There are nevertheless Laws and Directives such as The Consumers Protection act (LOPD) that need to be taken in account.
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