Recognition and enforcement in Spanish bankruptcy proceedings of subordination agreements between creditors
The Consolidated text of the Spanish Insolvency Act (hereinafter, the Insolvency Act) has been amended to incorporate into Spanish law Directive (EU) 2019/1023 on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures...
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| Tipo de recurso: | artículo |
| Fecha de publicación: | 2023 |
| País: | España |
| Institución: | Universitat Autònoma de Barcelona |
| Repositorio: | Dipòsit Digital de Documents de la UAB |
| Idioma: | inglés |
| OAI Identifier: | oai:ddd.uab.cat:279276 |
| Acceso en línea: | https://ddd.uab.cat/record/279276 |
| Access Level: | acceso abierto |
| Palabra clave: | Bankruptcy law Intercreditor agreements Spanish law Finance Banking |
| Sumario: | The Consolidated text of the Spanish Insolvency Act (hereinafter, the Insolvency Act) has been amended to incorporate into Spanish law Directive (EU) 2019/1023 on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt. In addition to incorporating the guidelines of the Directive in the pre-insolvency stage, Law 16/2022 amending the Insolvency Act introduces a rule not provided for in the aforementioned Directive: the new Art. 435.3 of the Insolvency Act provides that agreements between creditors remain valid including when the common debtor goes into insolvency proceedings. Moreover, it applies indistinctly whether the agreements between creditors have been adopted within procedures concerning restructuring or outside of these |
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