The statutory stipulations of the remuneration to […] The statutory stipulations of the remuneration to the Administrators and their effects on the deductibility of the corpo […]
Category: Blog
In this blog post, we are going to deal with content that often is unnoticed by the small and medium-sized companies, being able to be a main contingency focus with the tax authorities if the proper compliance of the commercial regulations is not adequately revised. In the first place, we must attend to the corporate […]
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The promissory note in asset acquisition operation […] The promissory note in asset acquisition operations.
The promissory note is an instrument used oftentimes in international operations for asset acquisitions, by virtue of which one part (issuer) undertakes to finance the other (beneficiary) a certain amount of money. Although the common thing is that the promissory note makes the funds available in favour of the beneficiary upon prior fulfilment of certain […]
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The appeal to the European Court of Human Rights. The appeal to the European Court of Human Rights.
The European Court of Human Rights (also known as the Strasbourg Court) is the Court intended to prosecute, the possible violations of rights avowed in the European Convention for the Protection of Human Rights and Fundamental Freedoms, by the member States of the Convention. The guaranteed rights are listed in the stated Convention ant the […]
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Appointment of Administrators: General rule and ex […] Appointment of Administrators: General rule and exceptions.
How and who can appoint an administrator? As a general rule and with a few exceptions, the competence for appointing and administrator lies with the General Meeting of Shareholders. Furthermore, this is an exclusive competence, so it cannot be delegated neither to the shareholders individually, nor to the administrative body. The appointment will need the […]
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When the insolvency proceeding is considered guilt […] When the insolvency proceeding is considered guilty.
Article 163 of the Bankruptcy Law states that the bankruptcy must be declared either fortuitous or guilty. Although the Law does not define fortuitous bankruptcy, Article 164 exhaustively regulates the so-called guilty bankruptcy, considering that its declaration applies if, within the two years prior to the date of declaration of the bankruptcy, there was fraud […]
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Which claims are paid first in insolvency proceedi […] Which claims are paid first in insolvency proceedings?
When a company is involved in insolvency proceedings, the first task is to classify the creditors’ claims, because it is essential to determine who will recover its claims from the bankrupt company first. Firstly, a distinction is made between the bankruptcy claims (“créditos concursales”) and claims against the estate (“créditos contra la masa”). Bankruptcy claims […]
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Less than a year ago, Article 62nd of the Consolidated Text of the Spanish Companies Law (“SCL”) was amended, introducing a new section, the current section 2, which has been integrated into the article on the basis of section 1 of Article 2 of Act 11/2018 of December the 28th, which amends the Commercial Code, […]
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Differences between voluntary and involuntary inso […] Differences between voluntary and involuntary insolvency proceedings.
The main conceptual difference between voluntary and involuntary insolvency proceedings is determined by whoever has initiated the proceedings. In this sense, if the application for insolvency proceedings has been made by the debtor itself, it will be considered such a voluntary insolvency proceeding (in Spanish, “Concurso Voluntario”), and the administrative body of the Company will […]
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The so called “pre-bankruptcy proceeding” in Spain […] The so called “pre-bankruptcy proceeding” in Spain during the State of Alert
Article 5 of the Bankruptcy Law states that “the debtor must request the declaration of bankruptcy within two months counted from the date on which it knew or should have known about the insolvency”. However, Article 43 of the very new Royal Decree Law 8/2020 of March 17th establishes that while the state of alert […]
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