Main new features that the reform of the Recast Insolvency Act has brought to the Spanish Restructuring and Insolvency rules
The Act nº 16/2022, dated September 5, on the reform of the Recast Insolvency Act, published on September 6, 2022, brings deep and major changes to the existing legislation.
The amendment will come into force on September 26, 2022, twenty days after its publication, and affect both proceedings commencing after entry into force of the legislation and a few parts of proceedings that had commenced earlier.
The differences between the original bill and the approved insolvency reform are shown in the compared version available here.
In this document we summarize the important new items of legislation in the new wording and how they will impact on the current insolvency legislation.