A credit institution that is the indirect owner of an insolvent company’s share capital is not a person closely related to the insolvent company, unless it uses an intermediary to avoid that status.
Madrid Commercial Court No. 6 order of October 7, 2013: acquirer of a production unit subrogated in employment liabilities because the shareholders and directors had established the company specifically to acquire the insolvent company ("Marco Aldany Case")
The court did not rule out liability for employment obligations because the partners - directors of the insolvent company wished to acquire the production unit through a company created specifically to acquire it.
On December 28, 2013, the new Electricity Sector Act (Act 24/2013, of December 26) or “LSE” came into force.
The LSE maintains the essence of the rules established under Royal Decree- Law 9/2013, of July 12. Existing renewable energy plants will receive the market price and will be entitled to additional remuneration that, based on investment costs and standard operations costs, will enable them to achieve certain profitability.
Judgment of the Supreme Court of Justice No 15/2014, published in Diário da República (Portuguese official gazette) No 24 of 2014-12-22
Insolvency – Insolvency Administrator – Presumption of bad faith
Judgment of the Supreme Court of Justice No 15/2014, published in Diário da República (Portuguese official gazette) No 24 of 2014-12-22
Insolvency – Insolvency Administrator – Presumption of bad faith
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
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 Supreme Court confirmed the lower-court judgments that had rescinded the payments made to the managing director through remuneration, as the bylaw requisite to create the right to receive it had not been met, as well as payments made to shareholders through dividends, differentiating between the resolution of the meeting to distribute dividends and the payment of these dividends.
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