The Reform Of The Spanish Insolvency Act And Its Impact On Distress Investing In Spain

January 13, 2012

By Iñigo Rubio, Cristobal Cotta and Ignacio Buil.

After months of legislative work, in September 2011 the Spanish Parliament passed Act 38/2011, dated 10 October, amending the Spanish Insolvency Act. This highly anticipated reform is the third since the law came into force seven years ago and constitutes an extensive global reform pursuant to which substantial aspects of the Spanish Insolvency Act are amended.

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