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Main amendments to the Spanish Insolvency Act introduced by Royal Decree Act 11/2014 and how they affect Spanish in-Court restructurings
  1. Introduction

On 7 September 2014, Royal Decree Act 11/2014 on urgent measures in insolvency matters (“RD 11/2014”) came into force, introducing important changes in the Spanish Insolvency Act (“SIA”), especially regarding incourt proceedings, whether within a composition or a liquidation stage. This piece of legislation followed Royal Decree 4/2014 (“RD 4/2014), which introduced equivalent measures for preinsolvency restructurings.

Spain, Insolvency & Restructuring, Litigation, Gomez-Acebo & Pombo Abogados
Automatic stay may be extended to enjoin non-debtors

The automatic stay is one of the most fundamental bankruptcy protections. It enjoins the initiation or continuance of any action by any creditor against the debtor or the debtor’s property, including causes of action possessed by the debtor at time of the bankruptcy filing. The automatic stay offers this protection while bringing all of the debtor’s assets and creditors into the same forum, the bankruptcy court.

USA, New York, Capital Markets, Insolvency & Restructuring, Litigation, White Collar Crime, Chadbourne & Parke LLP, Bankruptcy, Debtor, Injunction, Fraud, Class action, Limited liability company, Liquidation, Conveyancing, Investment company, Securities fraud, Securities Investor Protection Corporation, Racketeer Influenced and Corrupt Organizations Act 1970 (RICO) (USA), Trustee, United States bankruptcy court