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.Read more
Reform 3/2009 to the Spanish Insolvency LawIn Spain, the Insolvency Law 22/2003 underwent recent reform with Royal Decree Law 3/2009 (March 27), responding to the global economic crisis. Originally enacted during economic prosperity, the law’s deficiencies over six years prompted modifications in the reform.Read more
