Our Bankruptcy Law Area has prepared the following document on restructuring plans
On September 6, Law 16/2022 of September 5, amending the Consolidated Text of the Bankruptcy Law was published in the Official State Gazette, bringing important modifications to the current regulation with its publication
It establishes, among other measures, the possibility for the company to carry out a prior negotiation with its creditors in order to avoid the declaration of Bankruptcy. The Amendment introduces the concept of "restructuring plans" that replace the current refinancing agreements and out-of-court payment agreements.
The informative note can be found in the related documentation.