The extrajudicial payments agreement procedure in Spain
In Spain, a natural person debtor requests a bankruptcy mediator from their local notary, while entrepreneurs or legal entities approach the Commercial Registrar at the registered office. The request for an extrajudicial payment agreement includes financial details, creditor lists, current contracts, and anticipated monthly expenses.
Withdrawal of the lease agreement in Spain
The approval of the 4/2013 Act of June 4, on the relaxation and promotion of the housing rental market measures, amended Article 11 of the Urban Lease Act. According to …
Consent To Use Cookies in Spain
This article highlights the essential aspects that information company service providers in Spain must observe to prevent the use of cookies on websites that may result in the violation of …
New Debt Settlement Procedure for Entrepreneurs in Spain
The Entrepreneur Support Act (Law 14/2013), effective from September 27, has brought about reforms. Notably, it has increased flexibility in the quorum of financial creditors for court approval of refinancing agreements. Moreover, regulations now govern extrajudicial payment agreements as tools for negotiating with creditors outside the judicial process.
Promotion of investments by venture capital funds in Spain
Spain is addressing economic challenges with state investments to boost private investment. Rajoy’s economic growth and entrepreneurship support plan include a proposed law to encourage venture capital fund investments in the country.
Attendance to Shareholders’ Meeting in Spain by electronic means
According to the Spanish Corporations Act, shareholders can attend meetings by electronic means. However, only public limited companies in Spain are currently able to use this method of attendance if the company’s bylaws authorize it. Attendance by electronic means must guarantee the identity of the individual who is attending the meeting electronically.
Amendments to the Consumer Protection Act in Spain
The legal term for a consumer to withdraw from a contract extends to 14 calendar days (if the consumer did not receive the proper information, the term extends to 12 …
Recovery of the Investment in the Real Estate in Spain
Favourable conditions to invest in the real estate market in Spain are the strategy to promote foreign investment. The Spanish Government encourages foreign executives to reside in Spain, which has resulted in an increase of investments in non-residential property in Spain.In 2013, this increase in investments reached 2,000 million Euros.
Objective dismissals in Spain will cost more to companies
The passing of the new 22/2013 Act of December 23 of the State Budget for 2014 has negated Article 33.8 of the Spanish Workers’ Statute. Article 33.8 provided compensation by …
The New Liquidities in Insolvency Proceedings in Spain
Half of the newly invested funds in refinancing lack insolvency privilege, requiring timely payment. This percentage temporarily rises to 100% for enhanced protection.
