## [Restructuring and Insolvency Work Newsletter - February 2015](/en_GB/new/restructuring-and-insolvency-work-newsletter-february-2015)
# Restructuring and Insolvency Work Newsletter - February 2015
02 / 26 / 2015
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The revamped newsletter of our Restructuring and Insolvency experts offers a faster access to its contents and facilitates its understanding and discussion with our clients, especially with investment funds and foreign credit institutions which are very interested in the latest reforms on pre-insolvency and court approvals of refinancing agreements.
**Contents:**
**I. New legislation**
- *1. Instruction 3/2014, of November 19, 2014, of the Head of the Collection Department of the State Tax Agency, on the signing of special agreements with taxpayers subject to an insolvency order*
**II. Selected court cases and significant transactions**
- *1. Court approval of refinancing agreements*
**III. Group of cases: enforcement in insolvency proceedings**
- *1. Judgments rendered by the Jurisdictional Disputes Tribunal dated December 9, 2014 and by Chamber One of the Supreme Court dated December 12, 2014*
- *2. Decision dated December 5, 2014 rendered by Madrid Provincial Appellate Court*
- *3. Decision dated January 14, 2015 rendered by Lugo Provincial Appellate Court*
- *4. Decision of the Directorate-General of Registers and the Notarial Profession dated October 24, 2014*
**IV. Insolvency round-up**
- *1. Objections to the approval of an advance proposal for an arrangement: judgment dated December 17, 2014 rendered by Barcelona Provincial Appellate Court*
- *2. Ancillary proceeding for the clawback of mortgages taken out for the benefit of financial institutions: judgment dated December 18, 2014 rendered by Madrid Commercial*
- *Court No. 2*
- *3. Prohibition on “cash sweeps” and netting in relation to bank accounts held by an insolvent company: decision dated November 18, 2014 rendered by Madrid Commercial Court No. 2*
- *4. Enforcement action against the debtor’s assets after the insolvency proceeding was concluded owing to there being insufficient assets available to creditors: judgment dated November 26, 2014 rendered by Alicante Commercial Court No. 1*
- *5. Fortuitous insolvency: judgment dated November 4, 2014 rendered by Murcia Commercial Court No. 2*
**V. Newsflash**
- *1. Ongoing insolvency reforms*
- *2. Insolvency proceeding affecting motorway concession-holders*
- *3. Drop in the number of insolvency proceedings*
**VI. Garrigues files**
- *1. Articles*
- *2. Garrigues Blog*
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This publication is provided for information purposes only and does not constitute legal advice or advice of any other kind. It does not seek to offer a comprehensive summary of the legislation and developments to which it refers nor to cover all published material, but rather to provide an overview of selected topics. It is therefore recommended that the official texts be consulted and specific professional advice be sought. Garrigues does not accept any liability for the use made of this information and assumes no obligation to update it after publication.
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