The European Union (Preventive Restructuring) Regulations 2022 were signed on 27 July 2022 to give effect to an EU directive (Directive (EU) 2019/1023). The Directive aims to ensure that member states have in place effective frameworks for early warning and prevention of corporate insolvency.
Irish companies are facing challenges with the sudden changes imposed on their businesses as a result of the impact of COVID-19. Some may be experiencing cash flow difficulties; others may have had to temporarily cease trading altogether.
Directors are responsible for managing their company’s affairs. This requires them to identify and navigate risks, and to ensure that appropriate strategies and where necessary contingencies are in place to anticipate and deal with such risks.
El pasado miércoles 27 de mayo de 2015 se produjo la entrada en vigor de la Ley 9/2015, de 25 de mayo, de medidas urgentes en materia concursal. Se termina así el proceso de conversión en Ley del Real Decreto-Ley 11/2014, de 5 de septiembre (ver e-bulletin publicado).
Act 9/2015, of 25 May, regarding urgent measures on insolvency, entered into force in Spain on 27 May 2015, thus concluding the process to give Royal Decree Law 11/2014, of 5 September, the status of an Act in its own right (see published e-bulletin).
On Friday 5 September, the Spanish Council of Ministers approved Royal Decree Law 11/2014, of 5 September, regarding urgent measures on insolvency. The Royal Decree Law brings in a series of significant reforms to the Spanish Insolvency Act 22/2003, of 9 July (the "Insolvency Act"). The new Royal Decree Law entered into force on 7 September 2014.
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