The Spanish Council of Ministers passed on 7 March 2014 the Royal Decree-Law 4/2014, on urgent matters in relation to refinancing agreements and debt restructuring. The main purpose of the new law is to ease the successful completion of refinancing and debt restructuring processes. Here we focus on the major reforms with updates from three separate authors, each giving us their views on different aspects of the reforms: Agustín Bou (pre-packs), Dr. Bernardino Muñiz (cramdown) and Alberto Álvarez Marín (moratorium), with a final update from Agustín Bou.
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