The Restructuring & Insolvency Practice benefits from extensive experience in insolvency procedures and, in the past, several of its members have been nominated to act as receivers/administrators by Commercial Judges. Specifically, the practice advises on the following core areas:

Contracts

We advice on a wide range of insolvency and pre-insolvency issues, including:

• Review of the possible implications of a meeting of creditors for contracts maintained by the company.
• Formalisation of guarantees in compliance with statutory requirements so that they do not fall within the scope of the insolvency estate.
• Advice on the acquisition of companies or productive units subject to insolvency, articulating the methods to avoid liability.

Pre-insolvency Advice

In the face of threatened insolvency, it is crucial to evaluate the risks for the management body to be held somehow responsible for the insolvency. The members of our Insolvency Practice have become experts in delivering pre-insolvency advice. They are trained to recognise and assess such risks and suggest corrective measures.

We also have a solid experience in banking and creditors refinancing designed to steer clear of insolvency.

Insolvency Advice

Our multidisciplinary team is in a position to represent and defend the interests of all parties involved in an insolvency case, namely: the insolvent company, the creditors and third parties.

• Instigation, where appropriate, of the procedure under section 5.3 of the Spanish Insolvency Act, in circumstances of actual insolvency, in order to file an advance arrangement with creditors and get out of the insolvency status as quickly as possible.
• Petitioning for insolvency on behalf of individuals and corporate bodies.
• Assistance in the separate procedure leading to the classification of the insolvency.
• Defence against actions filed under section 71 of the Spanish Insolvency Act.
• Preparation of arrangements with creditors and feasibility plans.
• Advice on and formalisation of advance arrangements with creditors.