What happens when a company enters bankruptcy? Before focusing on what happens when a company enters bankruptcy proceedings, we must answer the following question: What is bankruptcy? The bankruptcy is a procedure that takes place before the court of first instance in the event that the debtor is a natural person, or before the commercial […]
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I have to close my company because of the Covid-19 The situation caused as a result of COVID-19 has brought about an economic crisis, with numerous self-employed workers and companies having accumulated numerous debts, practically obtaining no income, which has caused them to enter into a insolvency situation, which in many cases forces them to
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Dissolve a company with debts The scenarios that companies are having to face due to the crisis caused by COVID-19 are diverse. The limitation of the mobility of people and the suspension or limitation of certain sectors of activity, among other measures adopted to minimize the risk of sanitary collapse, are having a great impact
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Public credits and the second chance in the new bankruptcy law With the entry into force, on September 1, of the Royal Legislative Decree 1 /2020, of May 5, which approves the Consolidated Text of the Bankruptcy Law (hereinafter, TRLC ) the “second chance” mechanism for individuals has been modified, that is, the possibility that
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Phases of a bankruptcy Before analyzing the phases that are part of the bankruptcy , it should be remembered that the bankruptcy is a judicial proceeding that will proceed in the event of state of insolvency of the company or individual, that is, when they cannot regularly meet their enforceable obligations. Each of the different
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Bill amending the capital companies law What do the changes you propose mean? On September 7 of last year, the Bill of Law amending the consolidated text of the Capital Companies Law was published in the Official Gazette of the Cortes Generales, approved in turn by Royal Legislative Decree 1/2010, of July 2, and other
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Dissolution of the company and responsibility or not of its administrators Actualmente y con motivo de la pandemia mundial provocada por el COVID-19 el legislador ha modificado la normativa sobre disolución de las sociedades mercantiles afectando con ello al régimen de responsabilidad de los administradores sociales, suspendiendo la obligación de disolución de las compañías mercantiles
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New extension of the bankruptcy moratorium until December 31, 2021 Introduction On March 13, 2021, the
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The privilege of public credit in bankruptcy and pre-bankruptcy Public credit, the benefit of exoneration of unsatisfied liabilities (Second Chance Law) and the suspension of singular executions in the pre-bankruptcy: current regulation in the Bankruptcy Law. Already before the approval of the Royal Legislative Decree 1/2020, of May 5, which approves the consolidated text of
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Separation of partners in companies declared bankrupt The right of separation of partners in companies declared bankruptcy In this article we will study the repercussions of the Supreme Court Judgment nº4/2021, of January 15 (Rec. 2424/2018), since This has clarified the criteria to be followed with reference to the partner’s right of separation in companies
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