The Council of Ministers has approved the creation of the Fund for the Recapitalisation of Companies Affected by COVID-19 (the "FREAC"), which will be funded with 1,000 million euros and will be managed directly by COFIDES. The purpose of the FREAC is to provide a temporary public support under criteria of profitability, risk and impact on sustainable development, in order to strengthen the solvency of medium-sized companies with registered offices in Spain.

In a highly anticipated decision issued last Thursday (on December 19, 2019), the United States Court of Appeals for the Third Circuit held in In re Millennium Lab Holdings II, LLC that a bankruptcy court may constitutionally confirm a chapter 11 plan of reorganization that contains nonconsensual third-party releases. The court considered whether, pursuant to the United States Supreme Court’s decision in Stern v. Marshall, 564 U.S. 462 (2011), Article III of the United States Constitution prohibits a bankruptcy court from granting such releases.