Legal Guide for the Board of Directors in the Face of a Restructuring Plan
La reforma concursal de 2022 dio un giro al escenario para las empresas en dificultades, un nuevo paradigma que otorga una mayor responsabilidad a los consejos de administración. Leer
A new Spanish law introduced in 2022 allows companies in financial difficulties to restructure their debt through a court-supervised process. This process, known as a "plan de reestructuración", enables companies to reorganize their debt structure and negotiate with creditors, rather than simply going bankrupt. According to lawyers Alejandro Rey and Diego Gutiérrez from RSGM Abogados, a company's board of directors must carefully consider several key questions before initiating such a plan, including whether the company is still viable, whether they are acting with sufficient anticipation, and what risks they assume if they delay taking decisions.
Recent court rulings have highlighted the importance of proper planning and execution in order to avoid the plan being rejected or challenged by creditors.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
