Rising Numbers of Insolvencies in Spain or Express Insolvencies: Safety Net Or Pitfall?
The express insolvency mechanism benefits debtors by cutting costs, eases the workload for mercantile courts, and prevents false satisfaction expectations for creditors. This is likely to result in a continued high number of insolvencies as debtors increasingly use this shortcut to obtain the entity’s death certificate.
New Default Interest Rate in Spain
The Law 3/2004 of December 29 established measures to combat late payment in commercial transactions. Specifically, Article 7.2 clarified the default interest rate. Until February 23, 2013, the Article dictated: …
New updates about residency for investors via the Entrepreneurs’ Law in Spain
This week, news outlets reported some new information about the entrepreneurs’ law that is still in its draft stage. The government will soon pass a law that will allow, among …
How does the Pre-Bankruptcy Process for Creditors work in Spain?
To understand the so-called pre-bankruptcy process, consider the provisions of Article 5.1 of the Spanish Insolvency Law (IL). Under this Article, The debtor must request the declaration of insolvency within two …
Spain presents the draft bill of the new regulations for entrepreneurs
Spain will grant residence permits to foreign individuals purchasing homes with a value equal to or exceeding 500,000 Euros. The aim is to attract wealth from countries.
Mediation Law on Commercial and Civil Issues
The recent Mediation Law on Commercial and Civil Issues (Law 5/2012, 6th of July) needs regulatory development. To this end, lawmakers have drafted a Royal-Decree Project (Project) that develops the …
Spanish Residence Visas for Entrepreneurs and Investors
Today, we anticipate that the Spanish Government will announce the draft bill of the Entrepreneurs Law, which will include, among other issues, some measures to attract investors and entrepreneurs to …
Spain’s New Entrepreneurs Law: Spain residency Permits for non-EU Citizens
Last week we heard updates about the new law aimed at attracting investors to Spain (elEconomista, a Spanish News Journal) The law was originally proposed in November of 2011 and …
The Extinction of the Management Contract in Spain
Due to their particular position in the company, senior management personnel have a special legal status, which involves the non-application of common rules imposed on other employees. In the paragraphs …
New Spanish Residency Reform for Foreign Investors
The proposed Entrepreneurs’ Law includes measures such as authorizing residency permits for foreign investors making investments in Spain. The expectation is that the government will give approval to the bill next Friday.
