Publications - Restructuring and Insolvency

  • 03-23-2018

    On March 14, 2018 the European Commission presented the Second Progress Report on the reduction of non-performing loans (“NPLs”). The report comprises a memo and a factsheet, whose versions in English can be obtained on the website of the European Commission, which also distributed a press release (English version).

  • 03-09-2018

    On February 28 last the European Commission published the Draft Agreement on the withdrawal of the United Kingdom from the European Union (“EU”). This draft, based on the Joint agreement submitted by the the negotiators of the EU and the United Kingdom on December 8, 2017, will set the tone for the future negotiations between the Union and the United Kingdom.

  • 02-23-2018

    The Direction issued by the DGRN on February 5, 2018, takes a highly practical approach to the initial steps to be taken in arranging an AEP and, above all, clarifies some uncertainties that have previously frustrated the refinancing process.

  • 02-02-2018

    Newsletter Restructuring & Insolvency Newsletter - February 2018

  • 12-13-2017
  • 12-01-2017

    Garrigues has received the European Law Firm of the Year award from the international legal journal Legal Week for the third time. This is one of the most prestigious accolades in the legal sector, awarded to leading firms, teams and professionals which have stood out for their accomplishments in 2017 in the European legal market.

  • 11-20-2017

    Garrigues received the Regional Client Service Award in Latin America at the annual awards organized by UK directory Chambers & Partners to recognize the work of local and international firms operating in the region.

  • 11-07-2017

    Half of the new partners practice outside of Spain, reflecting the increasingly international nature of the firm.

  • 09-07-2017

    The Ministry of Health, Social Services and Equal Opportunity has awarded Garrigues the distinction of being an Equal Opportunity Company, a brand of excellence that acknowledges companies that stand out “in a relevant and specially significant way in the application of equal opportunity Plan policies”. Garrigues is the only law firm this year to achieve the distinction (published last Saturday in the Official State Gazette), which has been awarded to companies in different sectors since 2010.

  • 07-12-2017

    July newsletter prepared by professionals from the Restructurin & Insolvency Department.

  • 04-27-2017

    February newsletter prepared by professionals from the Restructurin & Insolvency Department.

  • 03-29-2017

    Non-performing loan transactions are a very real topical issue in Spain. 2016 left us with 18 large-scale sales of NPL portfolios made by Spanish banks and savings banks, worth €13 billion euros. It is estimated that in Spain alone NPLs to the tune of €120 billion in NPLs could be packaged into portfolios and sold in or after 2017. This is ten times higher than the figure the market could absorb in 2016.

  • 02-09-2017

    February newsletter prepared by professionals from the Restructurin & Insolvency Department.

  • 11-22-2016

    The new release of our newsletter features: An analysis regarding the impact of the repeal of certain court fees on court-based insolvency proceedings (both principal and ancillary); the most significant cases and transactions in which Garrigues has intervened over the last few months including the legal services provided to a fund for the acquisition of an NPL portfolio which is considered the largest transaction on defaulting hotels in Spain, a selection of the most recent and relevant judicial decisions, with special attention given in this edition to the cases involving the assessment phase of insolvency proceedings and the homologation of refinancing agreements, and the conferences, professional events and the latest articles of the members of our team, highlighting an international guide to insolvencies, a new analysis on the Brexit and an article regarding the risks associated to the acquisition of NPL and REO portfolios.

  • 11-08-2016
    There was a particularly vibrant start to 2016 in Spain: the first general elections had just been held from which the nation’s government was to emerge, the entire country had been left waiting for an agreement that would enable the formation of that government, and the Abengoa group, which on the afternoon of November 25, 2015 had filed with a Seville court what is known as a pre-insolvency notice, was fervently trying to hammer out a deal with its creditors (mutual funds, in many cases) that would lift the shadow of insolvency. 
  • 07-29-2016

    The new release of our newsletter features the most significant cases and transactions in which Garrigues has intervened over the last few months including the request by a number of companies of the Pacific Group seeking the recognition in Colombia of their cross-border insolvency commenced in Canada or the legal assessment provided to an investment fund in the purchase of the loan portfolio “Baracoa”; a selection of the most recent and relevant judicial decisions in the field of business reorganizations and insolvencies, with special attention given in this edition to the cases involving breaches of creditors’ agreements and remuneration of the insolvency administration; and the conferences, professional events and the latest articles of the members of our team.

  • 07-22-2016

    June 23, 2016 is a date that will go down in history for the UK as the day British citizens voted for a different future separate from the rest of the EU Member States. If Brexit goes ahead, it will mean that the treaties, regulations and directives that the European bodies have been approving since the 1950s will no longer apply to the UK. Without a doubt, one of the most notable aspects of Brexit is its impact on the markets and, naturally, the legal market.

  • 07-08-2016

    This commentary describes some of the main issues and uncertainties that the United Kingdom’s exit from the European Union will bring, concerning matters such as choice of court agreements, recognition and enforcement of judgments, choice of law and corporate restructuring and insolvency proceedings.

  • 06-10-2016

    La nueva edición de nuestra newsletter incluye los casos y transacciones más significativas en los que ha intervenido Garrigues durante los últimos meses, incluyendo la homologación judicial del acuerdo de refinanciación de Aliwin Plus o las últimas resoluciones recaídas en el concurso de Delforca; una selección de las últimas resoluciones judiciales más relevantes en el terreno de las reestructuraciones e insolvencias empresariales, gozando de especial protagonismo en esta edición la venta de unidad productiva y el concepto de sucesión de empresa; y los próximos eventos en los que participarán nuestros profesionales y los más recientes artículos de los integrantes de nuestro equipo.

  • 05-19-2016
    The brand new newsletter features: The main conclusions that the Commercial Judges have achieved in their last meeting which took place from the 4th until the 6th November 2015 (regarding the creditors’ agreement, the ‘second chance’ mechanism and the practical issues arising from the transfer of business units within the insolvency proceedings); The Consultation dated March 3, 2016, issued by the European Commission on an effective insolvency framework within the European Union; The most significant cases and transactions in which Garrigues has intervened during the last quarter, including the consultation issued by the Directorate General of Taxes as regards the possibility that the loss carry-forward provisions may be transferred within an insolvency proceedings; a selection of the most recent judicial decisions on business reorganizations and insolvencies and the publications of our experts and the recent acknowledgements that the Restructuring and Insolvency Department has achieved in some international legal directories.

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