Pocas veces una legislación “moderna” (recordemos que el texto original de la Ley Concursal es de 2003) ha sido objeto de tanta modificación (en sus diez años de vigencia lleva más de 16 modificaciones). Lo que es seguro es que no será la última, de hecho en las próximas semanas verá la luz la Ley por la que se adoptan medidas urgentes en materia de refinanciación y reestructuración de deuda empresarial (procedente del Real Decreto-ley 4/2014, de 7 de marzo), un auténtico ejemplo de “reforma de la reforma”.
- 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.
On September 5, 2014, Spain enacted urgent measures to facilitate restructurings and avoid the insolvency of companies that, under the previous regime, might have been forced to enter into an insolvency process ("RDl 11/2014"). RDl 11/2014 modifies several provisions of the Spanish Insolvency Act (the "Act"). The objective of the reform is to improve the legal framework that governs voluntary arrangements between creditors and the sale of distressed businesses outside of insolvency by removing obstacles that have previously impeded the successful reorganization of insolvent companies.
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- LÍMITE DE LOS CRÉDITOS POR SALARIO E INDEMNIZACIÓN EN EL PROCESO CONCURSAL
- Tanto el salario como las indemnizaciones por despido gozan de una serie de garantías en el art. 32 del Estatuto de los Trabajadores (LET).
- El RDL 11/2014, de 5 de septiembre, de medidas urgentes en materia concursal, ha venido a modificar, entre otros extremos, el régimen de las mayorías necesarias para la aceptación de propuestas de convenio.
El corazón de la nueva disciplina está constituido por el nuevo apartado 1 del art. 124 LC, que ha quedado redactado como sigue:
El Real Decreto-ley 11/2014, de 5 de septiembre, de medidas urgentes en materia concursal, añade un artículo 146 bis a la Ley Concursal que elimina obstáculos a la transmisión de la actividad en la fase de liquidación del concurso pero que no excluye la autorización administrativa de la transmisión en aquellos casos en los que la normativa sectorial lo requiere.
EL NUEVO ARTÍCULO 146 BIS DE LA LEY CONCURSAL
A creditors’ composition agreement has been approved for Pescanova, and section six of the insolvency proceedings (categorisation of the insolvency) has not been opened, as there is a type of creditor whose moratorium is less than three years and whose debt relief is below one third.
GRANADA COMMERCIAL COURT NO. 1 RULING OF MARCH 17, 2014; LOGROÑO COURT OF FIRST INSTANCE NO. 6 DECREE OF APRIL 25, 2014; BARCELONA COURT OF FIRST INSTANCE NO. 38 DECREE OF MAY 14, 2014; AND PONTEVEDRA COMMERCIAL COURT NO. 2 DECISION OF JUNE 6, 2014: FIRST DECISIONS ON THE SUSPENSION OF ENFORCEMENT PROCEEDINGS UNDER ARTICLE 5 BIS OF THE INSOLVENCY ACT AFTER ROYAL DECREE-LAW 4/2014
BARCELONA PROVINCIAL COURT (DIVISION 15) RULING OF APRIL 3, 2014, NO.
116/2014, AND LA CORUNA PROVINCIAL COURT (DIVISION 4) RULING OF APRIL 22,
2014, NO. 118/2014: ARTICLE 90.1.6 OF THE INSOLVENCY ACT REFERS TO THE PLEDGE SECURING FUTURE CREDITS
Two new decisions on article 90.1.6 of the Insolvency Act coincide in stating that the last point of this precept refers to the pledge securing future credits, and not to the pledge over future credit rights.