Madrid’s commercial courts approve their good practice guidelines for sales of productive units in insolvency proceedings
Spain -
On January 22, 2021 Madrid's commercial court judges approved a set of agreed procedures for handling insolvency proceedings in which liquidation is requested together with the insolvency order, as well as a number of criteria for transfers of productive units in these and other insolvency processes.
The guidelines include, among others: (i) the parameters for meeting the definition and the elements included in the productive unit; (ii) the methods to be used for its valuation; (iii) the terms of purchase bids for productive units; (iv) criteria regarding the impact of transactions of this type on preferred creditors; and (v) the regime for purchasers taking over the contracts included in the productive unit.
Contacts
![Adrián Thery Martí - Garrigues](/sites/default/files/styles/medium/public/team/photo/adrian_thery_marti_en_20231104.jpg?itok=96MeRdCl)
![](/sites/default/files/styles/medium/public/team/photo/10000841.jpg?itok=umrn6zt3)
![Juan Verdugo](/sites/default/files/styles/medium/public/team/photo/juan_verdugo_garcia_en_20240417.jpg?itok=GJ81NpPU)
![](/sites/default/files/styles/medium/public/team/photo/10004186.jpg?itok=BVwekzFG)