La reforma aparecida en el BOE del sábado 6 de septiembre plantea problemas sistemáticos y de fondo que no pueden ser tratados en esta nota, con la que se pretende orientar a los operadores en las reglas y problemas que prima facie sugiere la lectura de la norma. Evidentemente, hay que esperar nuevos productos legislativos, de ajuste de la presente reforma con la que se introdujo por el RD 4/2014.
If you’re a secured lender, news of a Chapter 11 filing by your borrower can be unsettling. The commencement of a Chapter 11 case triggers an “automatic stay” which, with certain exceptions, operates as an injunction against all actions affecting the debtor or its property.3 Under the automatic stay, a secured lender holding a security interest in the debtor’s property may not repossess or foreclose on that property without the permission of the bankruptcy court.
A) Impugnación individual y plural del despido no impugnado colectivamente
Exposición de la doctrina de la rescisión aislada del derecho de garantía 1. Establece el art. 73 LCon que (1) la sentencia que estime la acción (rescisoria) declarará la ineficacia del acto impugnado y condenará a la restitución de las prestaciones objeto de aquél (…). (3) El derecho a la prestación que resulte a favor de cualquiera de los demandados como consecuencia de la rescisión tendrá la consideración de crédito contra la masa, que habrá de satisfacerse simultáneamente a la reintegración de los bienes (…). 2.
The fourth additional provision of the Spanish Insolvency Act (IA) provides for homologation (court sanctioning) of a refinancing agreement signed by creditors representing at least 51 per cent of financial liabilities whilst meeting certain conditions set out in article 71 bis at the time of adoption of said agreement.
La Sentencia del Tribunal General del TJUE de 8 de abril de 2014 (asunto T-319/11), resuelve el re- curso de anulación parcial interpuesto por ABN Amro Group NV contra la Decisión 2011/823/UE, de la Comisión, que le impuso la prohibición de adquirir empresas de cualquier sector como una de las condiciones para considerar compatible con el mercado interior la ayuda pública que recibió del Estado holandés. La entidad ABN Amro había recibido ayuda pública para su recapitalización de entre 4.200 y 5.450 millones de euros, así como una ayuda de liquidez de 7.170 millones de euros.
The Portuguese Official Journal (Diário da República) published last 30 May Act no. 32/2014, approving the new pre-enforcement out-of-court procedure.
The above referred procedure will come into force on 1st September 2014 and will be available to creditors with enforceable instruments that may be relied on in summary enforcement proceedings (judgments, orders for payment and extrajudicial instruments regarding overdue pecuniary obligations).
The inclusion of pre-bankruptcy waivers in “standard issue” credit documents has generated a host of litigation in bankruptcy cases about the enforceability of such provisions.
According to its Explanatory Notes, RD Act (Order in Council) 4/2014, of 7 March, adopting urgent measures on business debt refinancing and restructuring, aims to facilitate the financial repair and recovery of companies facing an economic crisis. To this end, a set of rules varying in scope and significance have been laid down, which I here discuss with regards to the treatment reserved to loans granted under refinancing agreements - as provided by the Spanish Insolvency Act (IA) - and their signatory creditors.
This paper sets out to make some considerations on the position of creditors holding real security (security in rem) within para-insolvency and insolvency refinancing procedures introduced or modified by Royal Decree Act (Order in Council) 4/2012 adopting urgent measures on business debt refinancing and restructuring. I will avoid the new scope of the avoidance of preinsolvency transactions under arts. 71 bis and 72 of the Spanish Insolvency Act (IA), which will be the subject of a subsequent paper. Nor will the calculation of the “value of (real) security” be discussed here.