Author: Esther Gonzalez

Spanish government drafts amendments to insolvency law

The key changes under the draft legislation relate to the pre-insolvency rules (notice of negotiations with creditors – formerly known as article 5 bis filings – (the “Notice”) and sanctioning by the courts of restructuring plans).
However, significant changes are also made to the rules applying after the commencement of insolvency proceedings. In this note we summarise the changes to the pre-insolvency regulations.