Spain
On March 13, 2021, the Official Gazette of the Spanish State published Royal Decree-Law 5/2021 on urgent measures to support business solvency.
Key aspects
• A new direct aid facility, allotted €7 billion, for payments to suppliers, creditors and fixed costs, addressed to business of a broad list of sectors.
• A regimen to restructure financial debt guaranteed by the state, including a new financing facility to reduce debt.
• The creation of a new recapitalization fund for medium-sized companies, allocated €1 billion.
• Insolvency measures, including an extension of the suspension of insolvent debtors’ obligation to file for insolvency until December 31, 2021.