The SC adopts a decision on the inclusion of contractual set-off agreements that document a single financial transaction within the scope of application of Royal Decree-Act 5/2005 and on the insolvency classification of the credits resulting from financial swap, thus settling the disparity of criteria that existed in our lower case law with respect to such matters.

On 7 December 2015, the Federal Government released the National Innovation and Science Agenda, delivering a range of new initiatives. Among the key focus areas, the Government highlighted insolvency law as a primary area overdue for reform. Whilst not introducing wholesale reforms to mimic the United States ‘Chapter 11’ framework, the targeted reforms seek to eliminate the stigma associated with business failure.

Judgment of the Court of Appeal of Porto of October 8, 2015 

Culpable insolvency – Duration of disqualification of the insolvent party

Judgement No. 362/2015 - Official Gazette No. 186/2015, Series II of 09/23/2015

The Constitutional Court ruled unconstitutional the provision of Article 100 of the Insolvency and Corporate Recovery Code, approved by Decree-Law No. 53/2004, of March 18, if interpreted as the declaration of insolvency provided therein suspends the limitation deadline of tax debts attributable to the responsible subsidiary responsible person according to the tax procedure.

Judgment of the Supreme Court of 08/10/2015

BARCELONA PROVINCIAL COURT (DIVISION 15) RULING OF JUNE 31. 2015, NO. 170/2015: CHANGE IN THE RULE FOR DETERMINING THE EXISTENCE OF A GROUP UNDER THE INSOLVENCY ACT

In this judgment, the Provincial Court of Barcelona modified its previous position (despite a degree of dissent) on the concept of group for insolvency proceeding purposes.

DECISION OF THE GENERAL DIRECTORATE ON REGISTRIES AND NOTARIAL ACTIVITIES DATED OCTOBER 6, 2015: NO PUBLIC DEED REQUIREMENT FOR REGISTERING PROPERTY JUDICIALLY AWARDED IN AN INSOLVENCY PROCEEDING

ACT 42/2015 AMENDS ARTICLE 1964 OF THE CIVIL CODE (STATUTE OF LIMITATIONS ON ACTIONS)

DOING BUSINESS IN PORTUGAL A legal and tax perspective This guide provides general information to investors intending to operate in Portugal on legal issues on which they may need advice. It is not intended, and cannot be considered, as a comprehensive and detailed analysis of Portuguese law or, under any circumstances, as legal advice from Cuatrecasas, Gonçalves Pereira. This guide was drafted on the basis of information available as of October, 2015. Cuatrecasas, Gonçalves Pereira is under no obligation and assumes no responsibility to update this information. All rights reserved.

Judgment of the Court of Appeal of Lisbon of 02-06-2015

Interpretation of the intentions of a commercial company – Attribution of communications by members of corporate bodies – Signatures

The insolvency of one of the principals, contractors or subcontractors can seriously impact a construction project at all levels of the supply chain. Infrastructure and Projects partner, Ted Williams look at the issue and some practical thoughts on drafting contracts to help mitigate these risks.

“How did you go bankrupt?" Two ways. Gradually, then suddenly.” ? Ernest Hemingway