Pre-bankruptcy agreement procedure

Decree-Law 83/2015 on urgent measures concerning private law provisions, rules of civil procedure and the organisation and functioning of judicial administration in insolvency matters entered into force on August 21 2015. It marks yet another change to the insolvency regime, with new statutory provisions being adopted almost every year since 2005.

Decree-Law 83/2015 has introduced changes to the rules, among other things, on:

Introduction

Composition with creditors

Introduction

With Decree-Law 83/2015 on urgent measures concerning private law provisions, rules of civil procedure and the organisation and functioning of judicial administration in insolvency matters, Parliament has introduced major changes to the statutory provisions that govern insolvency procedures under the Insolvency Act (Royal Decree 267/1942). The changes aim to foster economic growth. In particular, they relate to bankruptcy, pre-bankruptcy agreements and debt restructuring arrangements pursuant to Article 182-bis of the Insolvency Act.