The Spanish "Zone of Insolvency"

A Good Practice Guide for Directors of Companies in Financial Distress
The Spanish
October 1, 2023
This article will analyse whether the Spanish legislator was right not to modify the Spanish corporate governance regime.

While we are aware of the ever-changing nature of the corporate governance discipline, such as the latest trends of digital transformation and environmental, social, and governance (ESG) factors, this article focuses on the specific impact of Directive (EU) 2019/1023 —and the new restructuring instruments it introduces— on corporate governance in Spain.

Instead of providing a comprehensive analysis from a Spanish law perspective, our objective is to present the key elements of corporate governance for distressed companies in Spain, with the aim of encouraging a wider discussion on the best practices directors should adopt during times of crisis. 

See complete chapter at: INSOL Europe Yearbook 2023. Harmonisation and other Challenges for the Insolvency Profession in 2023. INSOL Europe and Contributors, 2023.
October 1, 2023