The Government has announced the relaxation of the rules which were put in place in order to restrict the use of winding up petitions during the coronavirus pandemic. The changes, which come into effect on 1 October 2021 and will remain in force until 31 March 2022, are likely to prompt a significant increase in the number of petitions being presented to the court given the ever-increasing level of debt that has accumulated as a result of the pandemic.
Selección de las principales resoluciones en materia de reestructuraciones e insolvencias.
Suspensión de la junta general extraordinaria hasta la designación y aceptación del cargo por la administración concursal
Auto del Juzgado de lo Mercantil núm. 3 de Sevilla de 26 de febrero de 2021 (asunto “Abengoa”)
Selection of the main restructuring and insolvency judgments.
Suspension of special shareholders’ meeting until insolvency receiver’s appointment and acceptance of that appointment
Decision by Seville Commercial Court No 3 on February 26, 2021 (“Abengoa” case)
On January 22, 2021 Madrid's commercial court judges approved a set of agreed procedures for handling insolvency proceedings in which liquidation is requested together with the insolvency order, as well as a number of criteria for transfers of productive units in these and other insolvency processes.
Pre-packs sales are an important arrangement within Administrations and insolvency law. However, their usage has sometimes been considered “controversial”. In response to criticism and following a recent review of existing industry measures, the Government introduced The Administration (Restrictions on Disposal etc. to Connected Persons) Regulations 2021 (“the Regulations”). Coming into force on 30 April 2021, the Regulations will provide a new legal framework for pre-packs.
El impacto sostenido en la actividad económica que está teniendo la pandemia COVID-19 ha llevado al Gobierno, por un lado, a adoptar una serie de medidas destinadas a reforzar la liquidez y solvencia de las empresas y, por otro, a extender una vez más algunas de las medidas en el ámbito de la Administración de Justicia que se habían adoptado en el marco del Real Decreto-ley 16/2020, de 28 de abril, posteriormente confirmadas en la Ley 3/2020, de 18 de septiembre, así como en el Real Decreto-Ley 34/2020, de 17 de noviembre.
Los jueces de los juzgados mercantiles de Barcelona han publicado un conjunto de directrices básicas para la tramitación de los ‘pre-packs’ concursales españoles, introduciendo la herramienta, opcional, del “administrador silente” (‘silent administrator’). Las directrices se aprobaron en el contexto de un seminario organizado el pasado 20 de enero.
The judges of the Commercial Courts of Barcelona have released a set of basic guidelines for conducting Spanish insolvency pre-packs in that forum, by introducing the feature -of optional use- of the silent administrator. The guidelines were approved in the context of a seminar organized on January 20th.
Selection of the main judgments on restructuring and insolvency matters.
Silent administrator role allowed in pre-pack sale of business unit
Decision by Barcelona Commercial Court No 7 on October 30, 2020
The decision adopted on October 1, 2020 by commercial judges practicing in Barcelona, Tarragona, Gerona and Lérida states that insolvency receivers, owners or lawyers must report to the Directorate General for Industry of the Catalan Generalitat government regarding any companies with operating business units that have given a pre-insolvency notice, are in insolvency proceedings or other difficult situations