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Spanish Insolvency Reform

Introduction

Spain, Insolvency & Restructuring, DLA Piper, Digital transformation, Insolvency
The sale of a production unit in the Revised Text of the Spanish Bankruptcy Law (TR LC)

Definition of production unit (UPA in its Spanish acronym)

UPA means a "set of organised means necessary for the exercise of an essential or ancillary business activity" (sec. 200.2 TR LC). If there is one or more UPAs of goods or services within the bankruptcy assets, these shall be detailed in an annex to the inventory, with a reference to the goods and services of the bankruptcy assets comprised thereunder (sec. 200.1 TR LC).

Spain, Insolvency & Restructuring, DLA Piper
COVID-19 - Director's Duties: Suspension of the obligation to file for insolvency

In light of the COVID-19 crisis, a Grand Ducal Regulation was published on 25 March 2020 (the Regulation)[1] that suspends certain procedural deadlines applicable in civil and commercial matters during the Luxembourg state of crisis. The Ministry of Justice has clarified that this suspension also relates to insolvency matters.

Luxembourg, Insolvency & Restructuring, Ogier, Directors' duties, Coronavirus