Podcast - Reform of the Bankruptcy Law - News items in the "PRE-BANKRUPTCY" phase

Episode directed by Silvia Moreno. Economist in the Lener Restructuring Dept.

The reform of the Recast Text of the Bankruptcy Law, which transposes Directive (EU) 2019/1023 on restructuring frameworks and which was approved on 25 August last in the Congress of Deputies, brings us several important developments regarding the "pre-bankruptcy" phase.

These are looked at in detail in the following podcast. Take note of these 4 main new concepts:

• “Probable Insolvency”, which refers to the situation in which the debtor considers that it will not be able to meet its payment obligations within the next 2 years.
• “Early Warning Systems”, instruments designed to identify insolvency situations at an early stage, in order to be able to adopt solutions at the earliest juncture.
• "Restructuring Plans", which replace the Refinancing Agreements contained in the former Bankruptcy Law.
• The "Restructuring Expert", a new figure who may intervene in the "pre-bankruptcy" phase under certain assumptions.

You can find out further information in the detailed article below.

Published on Economist & Jurist