## [Restructuring and Insolvency Newsletter - December 2021](/en_GB/new/restructuring-and-insolvency-newsletter-december-2021) # Restructuring and Insolvency Newsletter - December 2021 Spain - 12 / 01 / 2021 - - [](https://www.linkedin.com/sharing/share-offsite/?url=https://www.garrigues.com/en_GB/new/restructuring-and-insolvency-newsletter-december-2021) - []() - []() Previous Next ![](/sites/default/files/noticias/img/newsletter_ri_diciembre_2021.jpg) ## [**Pre-pack: check the map with the current situation in Spain**](https://www.garrigues.com/en_GB/new/pre-pack-check-map-current-situation-spain) Commercial judges are gradually introducing the so-called *pre-pack* by way of judicial orders and protocols. We offer a map from which you can access the new developments that arise in this field in Spain. [**VIEW MORE**](https://www.garrigues.com/en_GB/new/pre-pack-check-map-current-situation-spain) ### [**News**](https://www.garrigues.com/en_GB/new/restructuring-insolvency-newsletter-december-2021-news) - Insolvency moratorium extended until June 30, 2022 - Preliminary Insolvency Law Reform Bill published - Code of Good Practices for renegotiating financing guaranteed by ICO, CESCE and CERSA approved - Time period to apply for Covid guarantees extended and rules on collecting enforced guarantees implemented - Following the initiative promoted by the Barcelona and Madrid courts, Balearic Island commercial judges agree on a pre-pack insolvency protocol to facilitate transfers of productive units [**VIEW MORE**](https://www.garrigues.com/en_GB/new/restructuring-insolvency-newsletter-december-2021-news) ### [**Judgments**](https://www.garrigues.com/en_GB/new/restructuring-insolvency-newsletter-december-2021-judgments) - Court-validation of the refinancing of the Naviera Armas Group - Admission of appeal against publication of auction rules departing from terms approved in liquidation rules - The beneficiary of a condition precedent may waive it at any time - Debt discharge relief should apply to public claims also - Only parties with legitimate interests in the insolvency proceeding are entitled to be heard in the application procedure for court authorization - Alternative proposal for an arrangement targeted only at creditors and consisting of converting debt into shares is valid - Petition for insolvency order cannot be refused from the outset due to plurality of creditors not originally existing - No *ex ante* judicial control required for disproportionate trade-off in the sanctioning of a refinancing agreement - Insolvency proceeding does not displace the jurisdiction of public authorities over a concession on public property and its potential termination - Jurisdiction of insolvency judge to hear a mortgage foreclosure during performance of the arrangement or after end of a year from the insolvency order [**VIEW MORE**](https://www.garrigues.com/en_GB/new/restructuring-insolvency-newsletter-december-2021-judgments) ### [**Publications and events where Garrigues participates**](https://www.garrigues.com/en_GB/new/restructuring-insolvency-newsletter-december-2021-publications-and-events-where-garrigues) - Forthcoming conference on 'Reforms for recovery. Productivity, business growth and business climate' organised by the Economic and Social Council - Aranzadi Insolvency and Corporate Forum in Alicante - NPL Management Europe 2021 Congress - Corporate and Insolvency Law Cátedra Garrigues International Congress - 3rd Spanish Congress on 'Real Estate Servicing' - Webinar 'Mitigating the valuation risks arising from the new EU Restructuring Directive' organized by the International Valuation Standards Council (IVSC) - ‘Insolvency in the aeronautical industry; international security interests and Brexit’ - Specialist diploma on business restructuring and refinancing, organized by Universidad Loyola - 1st International Conference on ‘The post-pandemic corporate reality’ [**VIEW MORE**](https://www.garrigues.com/en_GB/new/restructuring-insolvency-newsletter-december-2021-publications-and-events-where-garrigues) [Restructuring & Insolvency](/en_GB/tags/restructuring-insolvency), [Spain](/en_GB/tags/spain) ### Contacts ![Adrián Thery Martí - Garrigues](/sites/default/files/styles/medium/public/team/photo/Adrian_Thery_Marti_en_20240619.jpg?itok=jcbiBc9t) [Adrián Thery](/en_GB/team/adrian-thery-marti) ![](/themes/custom/garriguestheme/img/iconos/email-contacto.svg)[Contact]() - +34 91 514 52 00 [Madrid](https://www.garrigues.com/en_GB/office/madrid) ![Foto del socio](/sites/default/files/styles/medium/public/team/photo/Borja_Garcia-Alaman_de_la_Calle_en_20251105.jpg?itok=m4Nee5Rk) [Borja García-Alamán](/en_GB/team/borja-garcia-alaman-calle) ![](/themes/custom/garriguestheme/img/iconos/email-contacto.svg)[Contact]() - +34 91 514 52 00 [Madrid](https://www.garrigues.com/en_GB/office/madrid) ![](/sites/default/files/styles/medium/public/team/photo/10004186.jpg?itok=BVwekzFG) [Juan María Jiménez](/en_GB/team/juan-maria-jimenez-moreno) ![](/themes/custom/garriguestheme/img/iconos/email-contacto.svg)[Contact]() - +34 91 514 52 00 [Madrid](https://www.garrigues.com/en_GB/office/madrid) [Find more professionals](../team) ### Related services - [Restructuring and Insolvency ](/en_GB/services/restructuring-and-insolvency) - ## Find a publication - [Administrative and Constitutional Law](/en_GB/markdownify/node/9529?f%5B0%5D=service%3A1422) - [Agribusiness and Food](/en_GB/markdownify/node/9529?f%5B0%5D=service%3A1417) - 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