The Spanish government extends certain financial and corporate measures nearing expiry to support the recovery of businesses
Key aspects
Following the European Commission’s extension of the State aid Temporary Framework, the Spanish government has adopted Royal Decree-Law 27/2021, under which it extends several measures due to expire at the end of the year to support the recovery of businesses.
> It extends until June 30, 2022, the guarantee facilities managed by ICO (the Spanish State Finance Agency) and the company recapitalization funds managed by SEPI (the State-Owned Industrial Holding Company) and COFIDES (the Spanish Development Finance Institution).
> It postpones for another year (until the end of 2022) the application of grounds for dissolution due to qualifying losses.
> It postpones until June 30, 2022, the insolvent debtor’s obligation to file for insolvency.
> It extends until December 31, 2022, the obligation to seek prior authorization of certain foreign direct investments made by non-EU/non-EFTA residents.
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