Long-Awaited Amendment to Insolvency Legislation in Spain: Is it Sufficient?
The Law introduces positive changes to financing agreements and restructuring but fails to address critical issues. Inadequate resources for the Justice system and the absence of solutions for individual debt problems persist. Additionally, the underutilization of the restructuring procedure contributes to low satisfaction among ordinary creditors.
Note to the Partial Reform of the Law of Capital Companies in Spain
On 2 October 2011, Law 25/2011 of August 1 came into force. This law provides for the partial reform of the Capital Companies Act and the transposition of Directive 2007/36/EC …
The Procedure of Debt Recovery in the European Union
While there have been reported instances of using the EOPP, the full potential and utility of these new procedures are yet to be realized. They seem to be infrequently employed and not widely known. Only time will reveal whether they will evolve into a cornerstone of the European Union’s civil debt recovery.
Enforcement of Foreign Judgments in Spain
Determining jurisdiction in international disputes and recognizing/enforcing foreign judgments can be complex. To streamline this process, it is advisable for parties in cross-border agreements to thoroughly agree on jurisdiction and applicable law in case of a dispute.
Regulation Concerning Temporary Transfer of Workers Abroad
Article 40 of the Workers’ Statute in Spain requires a valid justification, such as economic, technical, organizational, or production reasons, or contracts related to the business, for the geographical mobility of workers who were not hired explicitly for mobile workplaces or travel to a different workplace within the same company, involving a change of residence.
New Incoterms Rules for International Contracts
Incoterms are trade terms arising from business practices whose scope is limited to the rights and obligations of sellers and buyers in sales contracts. They are not laws, but rules …
Creditors’ compulsory liquidation proceedings in Spain
In Spain, creditors’ compulsory liquidation proceedings differ from creditors’ voluntary liquidation, as they are initiated by a legitimate creditor following Article 3.1 of the Law 22/2003 (the Insolvency Act).
International distribution contracts within the European Union
In this article, we will discuss the principal types of distribution contracts, specifically the contracts by which one company (the principal employer or grantor) sells to another (the company distributor …
Regime of Arrears and Changes in the Civil Monitory Process in Spain
The monetary process is a straightforward procedure introduced since May 4th, which streamlines claims under €250,000, specifically for monetary debts documented in writing. Notably, legal representation is not mandatory for this process.
The Convention on the International Sale of Goods or CISG
This article introduces the Convention on the International Sale of Goods (CISG) and its distinctions in common-law jurisdictions. It is particularly informative for foreign companies engaged in international contracts, offering insights into the contract-drafting process and the significance of specific clauses.
