Spain

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Spain To Pay Out Benefits To Long-Term Unemployed

Spain has unveiled a series of measures to combat long-term unemployment, including a new monthly payment for about 450,000 jobless who currently receive no form of state support and face a growing risk of social exclusion, the Financial Times report ...

Daily Headline - global.abi.org - 12/15/2014 - 23:04 - 0 comments

Country Report: Reforms in Spain

The Spanish Council of Ministers passed on 7 March 2014 the Royal Decree-Law 4/2014, on urgent matters in relation to refinancing agreements and debt restructuring. The main purpose of the new law is to ease the successful completion of refinancing and d ...

Resource Article - abi_admin - 12/11/2014 - 16:46 - 0 comments - 1 attachment

Jones Day EuroResource--Deals and Debt | 30 September 2014

Spain—On 5 September 2014, Spain enacted urgent measures ("RDl 11/2014") to facilitate restructurings and avoid the liquidation of companies which, under the previous regime, might have been forced into liquidation. RDl 11/2014 modifies several ...

Resource Article - abi_admin - 12/11/2014 - 15:48 - 0 comments - 1 attachment

For Spanish Lenders, What a Difference Two Years Make

How did they do it? Two years ago, Spanish banks were in crisis, in such bad shape that they put the eurozone at risk and required a lifeline of 41 billion euros, or $52 billion, to stay afloat, the International New York Times DealBook blog reported ...

Daily Headline - global.abi.org - 10/27/2014 - 21:09 - 0 comments

Spanish Credit Card Scandal Hurts Country’s Image

Revelations related to how 82 executives and board members of a Spanish bank were given credit cards to spend freely on personal items and without apparent controls have dealt a blow to efforts to restore the image of the country’ financial sector, the ...

Daily Headline - global.abi.org - 10/13/2014 - 21:01 - 0 comments

Transhotel Enters Voluntary Administration As It Seeks Buyer

Trade-only bed bank Transhotel has entered a three-month voluntary administration period as it seeks a buyer to resolve cash-flow issues, Travel Weekly reported. The bed bank, based in Spain, is continuing to trade and will honour bookings. It is in ...

Daily Headline - global.abi.org - 10/08/2014 - 21:16 - 0 comments

Codere Reaches $1.4 Billion Debt Accord to Sidestep Insolvency

Codere SA reached an agreement with creditors to restructure 1.1 billion euros ($1.4 billion) of debt, allowing the Spanish gaming company to avoid entering insolvency proceedings, Bloomberg News reported. The company will use the U.K. courts and seek a ...

Daily Headline - global.abi.org - 09/23/2014 - 20:19 - 0 comments

EUROPEAN UPDATE: Strengthening Pre-Insolvency Tools: A U-Turn in Spain’s Restructuring Legislation

EUROPEAN UPDATE: Strengthening Pre-Insolvency Tools: A U-Turn in Spain’s Restructuring Legislation (citation: Adam Gallagher, Jesús López Bragado and Jorge Puyol, Strengthening Pre-Insolvency Tools: A U-Turn in Spain’s Restructuring Legislation, XXXIII ...

Resource Article - abi_editor - 08/29/2014 - 15:52 - 0 comments - 0 attachments

Spanish Insolvency Proceedings Drop to Three-Year Low on Economy

The number of Spanish companies seeking protection from creditors has fallen to the lowest in three years as the economy recovers and changes to the nation’s bankruptcy rules help heavily-indebted borrowers, Bloomberg News reported yesterday. Insolvency ...

Daily Headline - abi_admin - 08/08/2014 - 10:03 - 0 comments

Telepizza Dodges Debt Restructuring With New Loan Refinancing

Struggling Spanish pizza delivery business Telepizza is set to refinance existing loans with a new first lien loan and a new Payment In Kind (PIK) loan that will help it escape an expensive debt restructuring, banking sources said on Tuesday, Reuters rep ...

Daily Headline - global.abi.org - 07/30/2014 - 21:08 - 0 comments

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