The approved Restructuring Plans in the current Insolvency Law
01/12/2021
The approved Restructuring Plans in the current Insolvency Law
En los medios
The approved Restructuring Plans come to replace -and this is made clear in the Preliminary Draft, which is subject to possible changes- a figure of significant importance in the pre-insolvency area: the approved Refinancing Agreements of article 605 and subsequent articles of the Consolidated Text of the Insolvency Law.
The main novelty included in the Preliminary Draft is that forced debt restructuring will be applicable to all categories of creditors after the approval of a restructuring plan, also known as "arrastre vertical" or cross-class cramdown, as set forth in Articles 9 to 11 of the Directive.
Our colleague Íñigo Movilla from the Restructuring Department shows a comparison between the Refinancing Agreements currently regulated in the TRLC vs. its legislative evolution presented in the Draft Reform Bill of the TRLC: the Restructuring Plans, in an article published in Economist and Jurist.
See the article in Economist and Jurist.
And you can also listen to it in the following podcast:
