Introduction
The Supreme Court of Spain has recognized it its Judgment dated September 5th, 2012, the lack of consent in a work contract on which one of the parties applied for the bankruptcy proceedings 10 days after such contract was entered by both parties.
The parties entered into a contract for execution of work by virtue of which the company that few days later applied for the insolvency proceedings, was committed to carry out the works of a building under construction.
Once the bankruptcy proceeding was started, each party issued a claim within the insolvency proceeding.
RENTA CORPORACIÓN: CENTRE OF MAIN INTERESTS IN SPAIN
On the advice of Cuatrecasas, Gonçalves Pereira, RENTA CORPORACIÓN REAL ESTATE S.A. (“Renta Corporación”) applied for a declaration of insolvency jointly with three of its Spanish subsidiaries (RENTA CORPORACIÓN REAL ESTATE ES S.A.U., RENTA CORPORACIÓN REAL ESTATE FINANCE S.L.U. and RENTA CORPORACIÓN CORE BUSINESS S.L.U.).
SUPREME COURT RULING NO. 44/2103, OF FEBRUARY 19, 2013: INSOLVENCY CLASSIFICATION OF FINANCE LEASE INSTALMENTS DEPENDS ON SPECIFIC PROVISIONS OF THE LEASE AGREEMENT
Supreme Court finds that where a finance lease agreement releases the lessor from liability for defects, credits resulting from payments due before the declaration of insolvency and for those falling due after it are insolvency credits
El Real Decreto Ley 8/2013, de 28 de junio, de medidas urgentes contra la morosidad de las administraciones públicas y de apoyo a entidades locales con problemas financieros (publicado en el BOE de 19 de junio, convalidado por acuerdo del Congreso de los Diputados de 17 de julio), recoge una serie de medidas extraordinarias para ayudar a las Administraciones autonómicas y locales a reducir su deuda comercial acumulada.
La caducidad del cargo de administrador se produce ope legis, sin necesidad de que acceda al Registro Mercantil ningún documento que lo constate. En estos casos, a diferencia del cese o la separación, el inicio del plazo de prescripción de la acción de responsabilidad contra el administrador comienza desde el momento en que deba considerarse caducado el cargo.
El objeto de la litis se centra en la legitimación activa de los socios de una sociedad agraria de transformación (SAT) para reclamar judicialmente los créditos que ostentan contra ella.
Compensation of a debt made after the debtor’s bankruptcy declaration via the appropriation of securities pledged by virtue of a financial guarantee, is admitted.
The validity of a transaction assessed as “compensation” that was carried out after the bankruptcy declaration of the company in debt was questioned before the Supreme Court. The credit entity applied the value obtained from the reimbursement of an investment fund that had been pledged to secure a credit policy to reduce the debt.
JUDGEMENTS NO. 541/2012, OF OCTOBER 23, 2012, BY THE ZARAGOZA BRANCH OF THE COURT OF APPEALS, NOS. 413/2011, OF DECEMBER 19, AND 18/2012, OF JANUARY 18, BY THE BURGOS BRANCH OF THE COURT OF APPEALS, NO. 132/2012, OF APRIL 10, BY THE RULING OF THE VALENCIA BRANCH OF THE COURT OF APPEAL, AND NOS. 210/2012 AND 211/2012, BOTH OF JULY 20, BY THE ALICANTE COMMERCIAL COURT
Guarantees granted by a group company for securing a loan used to repay the insolvent party’s personal debts are detrimental to the insolvency estate. Article 10 of the Mortgage Market Act refers solely to mortgages that are already part of an issue of mortgage securities.