{"id":13864,"date":"2023-05-10T15:49:27","date_gmt":"2023-05-10T14:49:27","guid":{"rendered":"https:\/\/lupicinio.com\/?p=13864"},"modified":"2023-05-10T15:49:27","modified_gmt":"2023-05-10T14:49:27","slug":"the-challenge-by-creditors-to-the-restructuring-plans-of-companies-in-a-pre-bankruptcy-situation-analysis-and-conclusions-of-the-judgement-of-the-provincial-court-of-pontevedra-no-179-23-on-10-april","status":"publish","type":"post","link":"https:\/\/lupicinio.com\/en\/the-challenge-by-creditors-to-the-restructuring-plans-of-companies-in-a-pre-bankruptcy-situation-analysis-and-conclusions-of-the-judgement-of-the-provincial-court-of-pontevedra-no-179-23-on-10-april\/","title":{"rendered":"THE CHALLENGE BY CREDITORS TO THE RESTRUCTURING PLANS OF COMPANIES IN A PRE-BANKRUPTCY SITUATION. ANALYSIS AND CONCLUSIONS OF THE JUDGEMENT OF THE PROVINCIAL COURT OF PONTEVEDRA N\u00ba 179\/23, ON 10 APRIL 2023"},"content":{"rendered":"

ABSTRACT:<\/em><\/strong><\/cite><\/span><\/p>\n

This Newsletter aims to be a legal note that clarifies the concerns and uncertainties that the new scenario of the pre-bankruptcy institution is generating for professionals and\/or entrepreneurs, which the recent bankruptcy reform approved by Law 16\/2022, of 5 September, reinforces and provides a more detailed and stable legal framework. Specifically, our work focuses on analysing the challenge of restructuring plans and, with special attention, the recent Judgment of the Provincial Court of Pontevedra N\u00ba 179\/23, of 10 April 2023, which upholds the challenge brought by creditors to the Order approving the restructuring plan presented by a company in a pre-bankruptcy situation.<\/em><\/cite><\/span><\/p>\n

 <\/p>\n

I. INTRODUCCI\u00d3N<\/strong><\/p>\n

Over the last few months, many authors have analysed and commented on the virtues and weaknesses of the new reform of the revised text of the Insolvency Act[1]<\/a>\u00a0(\u201cTexto Refundido de la Ley Concursal\u201d or TRLC). Without prejudice to the different analyses and approaches that each author has given to their articles, there is a common sentiment that welcomes and applauds the reform because it has come at the right time.<\/p>\n

Currently, and it seems that this will continue in the short and medium term, we are in a financial and social scenario of great uncertainty at a global level, which will foreseeably lead to an economic recession that will directly and negatively affect the business fabric of Spain.<\/p>\n

Well, in this context, the vast majority of authoritative voices have highlighted the wisdom of the new reform because it mainly provides the different parties with tools that allow them to find agile and effective solutions both in the pre-bankruptcy and bankruptcy framework in order to ensure the viability of a company immersed in a situation of current, imminent, or probable insolvency.<\/p>\n

The aforementioned reform gives a relevant significance to the pre-bankruptcy institution, dedicating the second of its four books to it, with the main pillar being the restructuring plans, which replace the refinancing agreements.<\/p>\n

[1]<\/a> Law 16\/2022 of 5 September on the reform of the consolidated text of the Insolvency Act, approved by Royal Legislative Decree 1\/2022 of 5 May, which transposes Directive (EU) 2019\/1023 of the European Parliament and of the Council of 20 June 2019.<\/span><\/small><\/p>\n

To continue reading this interesting Newsletter by Gonzalo Ruiz Gallego<\/strong>, Senior Counsel at LILF, click on the following link: THE CHALLENGE BY CREDITORS TO THE RESTRUCTURING PLANS OF COMPANIES IN A PRE-BANKRUPTCY SITUATION<\/a><\/span>\u00a0<\/em><\/span><\/p>\n

 <\/p>\n

******<\/p>\n

More information:<\/strong><\/p>\n

Lupicinio International Law Firm<\/p>\n

C\/ Villanueva 29
\n28001 Madrid
\nP: +34 91 436 00 90<\/p>\n

info@lupicinio.com<\/p>\n","protected":false},"excerpt":{"rendered":"

ABSTRACT: This Newsletter aims to be a legal note that clarifies the concerns and uncertainties that the new scenario of the pre-bankruptcy institution is generating for professionals and\/or entrepreneurs, which the recent bankruptcy reform approved by Law 16\/2022, of 5 September, reinforces and provides a more detailed and stable legal framework. Specifically, our work focuses…<\/p>\n","protected":false},"author":3,"featured_media":13853,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1483,1961],"tags":[1964,1963,1962],"class_list":["post-13864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsletters-en","category-restructuraciones-e-insolvencia-en","tag-judgment-of-the-provincial-court-of-pontevedra-no-179-23","tag-pre-bankruptcy","tag-restructuring-plan"],"yoast_head":"\nTHE CHALLENGE BY CREDITORS TO THE RESTRUCTURING PLANS OF COMPANIES IN A PRE-BANKRUPTCY SITUATION. 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