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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
Can a claim be filed directly against an expropriating administration to obtain the fair market value that was not paid by a concessionaire, when the latter has been declared bankrupt?

Yes it can, according to the most recent judgments of the Spanish high courts. The question was addressed in several Judgments issued by the High Court (HC) of Castilla-La Mancha (amongst others, the Judgment issued on 11 February 2013, in Appeal no. 320/2012, and the Judgment issued on 12 February 2013 on Appeal no. 321/2012) and by the High Court (HC) of Madrid in its Judgment no. 41/2012 of 21 January.

Spain, Insolvency & Restructuring, Litigation, Gomez-Acebo & Pombo Abogados, Bankruptcy, Concession (contract), Fair market value
¿Puede reclamarse directamente a la administración expropiante el pago de los justiprecios no satisfechos por la concesionaria como consecuencia de la declaración de concurso?

Sí se puede, según pronunciamientos recientes de los Tribunales Superiores de Justicia. Se trata de varias Sentencias dictadas por el Tribunal Superior de Justicia de Castilla-La Mancha (entre ellas, la Sentencia de 11 de febrero de 2013, recurso n.º 320/2012, y la de12 de febrero de 2013, recurso n.º 321/2012), y del Auto del TSJ de Madrid número 41/2012, de 21 de enero.

Spain, Insolvency & Restructuring, Litigation, Gomez-Acebo & Pombo Abogados