Global—On 26 October 2012, the U.S. Court of Appeals for the Second Circuit, in a ruling that may impact sovereign debt restructurings, upheld a lower court order enjoining Argentina from making payments on restructured defaulted debt without making comparable payments to bondholders who did not participate in the restructuring.

On March 21st, 2012 the Spanish High Court rendered its Judgment in which stated that credits for supplies accrued before a company has been stated in bankruptcy, have to be paid as preferential credits, this means that they shall have priority over the rest of the credits, in those cases in which the Court who is dealing with the bankruptcy proceedings had ordered the supplier to continue with the respective supply in the interest of the bankrupt company.

The insolvency administrators (hereinafter, “the Plaintiff”) of the company Santa Teresa Materiales de Construcción S.L. (hereinafter “the Company”) sought the declaration of invalidity of the transaction undertaken by the Banco Santander S.A. (hereinafter, “the Bank”) classified by the Plaintiff as debt offset.

In this appeal, the court analyzes the extent of the consequential damages and future loss of profits that correspond to the lessor of a business premise on the occasion of the unilateral termination by the lessee, caused by the failure to obtain the mandatory licenses for the supermarket business of such premise.

El TS clarifica la calificación concursal de los contratos de permuta de tipos de interés y los califica como créditos concursales por no cumplir con el requisito del sinalagma funcional que se predica de las obligaciones recíprocas.

Two companies showed interest in the assets of a third company that was in a state of bankruptcy.

The object of this article is to analyze a controversial issue which is considered in recent times by the Mercantile Courts as a current incident involved in the Bankruptcy Proceedings and more specifically, to analyze the Judgement issued by the Court of First Instance no. 9 and Mercantile Court of Cordoba dated April, 19th 2010, in which the aforementioned incident is involved.  

This incident is essentially based on establishing the treatment that should be granted to the additional guarantees provided by third parties in bankruptcy proceedings.  

The matter subject to this analysis is decision taken by a Bankruptcy Administration dealing with three companies of the same company group which are involved in a bankruptcy proceeding. Given the situation and in response of the confusing information of assets, the Administration under discussion decided to gather the three companies joining all their creditors in a sole debt pooling and besides, joining all the rights and assets of the three companies.  

The rapid spread of coronavirus disease 2019 (Covid-19) is a public health challenge that has affected more than 200,000 individuals globally. We are finding from our clients that many business continuity plans are not robust enough to help businesses manage the growing and evolving global nature of the outbreak and its potential disruption, both in the short and long terms.

In its decision dated November 13th 2007, Madrid’s Provincial Court accepted the appeal against a decision delivered by Madrid´s Mercantile Court (number 6), which denied the adoption of civil precautionary measures, which were requested together with an action for joint and several liability against the administrators of Afinsa.

The precautionary measure requested was the preventive freezing of assets from the administrators in order to prevent possible concealment actions.