The British publishing house Law Business Research has released the 2012 edition of The Restructuring Review, which compiles and summarizes the main developments that have occurred in the legal market for business insolvencies and restructurings during the period under examination.
The team based in the Restructuring and Insolvency Department, led by Antonio Fernández and comprising Borja García-Alamán, Adrián Thery and Juan Verdugo, have prepared a compilation of the main cases and legislative developments occurring in their area of expertise over 2011/2012 in Spain.
The Spanish chapter of this guide highlights the general climate of reform that has arisen in Spain in the past year, which has had a significant impact on the positioning and prosperity of Spanish businesses. In addition to the financial and tax reforms launched by the Spanish government, the firm’s professionals emphasized the exponential increase in the risk premium on government debt and the reform of the Law Establishing Measures to Combat Late-Payment in Commercial Transactions. This law, which came into force in 2004 and was amended in 2009, has had to be updated to make it more flexible.
Christopher Mallon, editor of the review and partner at the US firm Skadden, Arps, Slate, Meagher & Flom, has once again sought out Garrigues’ professional input as leader in its field in Spain and due to its renowned international prestige in the area of restructurings and insolvency. In preparing the review, the editor also received contributions from 24 other law firms and lawyers representing major multinational companies.