## [Restructuring & Insolvency Newsletter - July 2018](/en_GB/new/restructuring-insolvency-newsletter-july-2018) # Restructuring & Insolvency Newsletter - July 2018 Spain - 07 / 23 / 2018 - - [](https://www.linkedin.com/sharing/share-offsite/?url=https://www.garrigues.com/en_GB/new/restructuring-insolvency-newsletter-july-2018) - []() - []() Previous Next ![](/sites/default/files/noticias/img/newsletter_reestructuraciones_e_insolvencias_julio_2018_0.jpg) ## ## **Funds will be able to recover NPLs more quickly following a decision by the Directorate-General of Registries and the Notarial Profession (DGRN) prompted by Garrigues** In an innovative decision rendered on June 28, 2018, the Directorate-General of Registries and the Notarial Profession (DGRN) responded affirmatively to the request for a ruling submitted by Garrigues on behalf of its clients (ten of the most important servicing institutions on the Spanish market ) and confirmed that notaries are able to issue a new enforceable copy to an investor acquiring NPLs secured with a mortgage on real estate if that investor had not already obtained another enforceable copy. According to the DGRN, that new copy entitles the new creditors to access the expedited and privileged mortgage foreclosure procedure. The team was led by Garrigues partner Juan Verdugo. Reports of the result achieved by our Restructuring & Insolvency department hit the Spanish press in [Expansión](http://www.expansion.com/juridico/actualidad-tendencias/2018/07/01/5b363420468aebb96e8b459f.html) and [El Economista](http://www.eleconomista.es/banca-finanzas/noticias/9265440/07/18/Los-notarios-agilizan-el-recobro-de-176000-millones-en-creditos-fallidos.html). [**READ MORE**](http://www.garrigues.com/en_GB/new/funds-will-be-able-recover-npls-more-quickly-following-decision-directorate-general-registries) ## **Since July 1 special form needed in Barcelona to apply for validation of refinancing agreements** On January 16, 2018, the governance committee at Catalonia High Court approved the application form for validation of refinancing agreements, drawn up by the commercial judges in Barcelona. That [form](http://www.icab.es/files/242-499506-DOCUMENTO/Modelo%20Solicitud%20HAR.pdf) has been required since July 1. ## [**Decisions**](http://www.garrigues.com/en_GB/new/restructuring-insolvency-newsletter-july-2018-decisions) - Not every sale of a unit of production in an insolvency proceeding is VAT free - Exclusion from being a transfer of undertakings for labor law purposes in the decision awarding a unit does not relieve purchaser of liability - DGRN adopts Supreme Court’s view on the requirements to register assets coming from an insolvency proceeding - Subsequent ratification by insolvency administrator is sufficient for insolvent debtor to retain authority in proceedings in progress - Supreme Court limits moratorium on enforcement of administrative and employment debts, compelling the insolvency administrator to bring third-party complaints to assert a superior right - Article 18 of the European Insolvency Regulation does not apply to enforcement proceedings [****VIEW MORE****](http://www.garrigues.com/en_GB/new/restructuring-insolvency-newsletter-july-2018-decisions) ## [**News and more events**](http://www.garrigues.com/en_GB/new/restructuring-insolvency-newsletter-july-2018-news-and-events) - R&I partner Adrián Thery appointed co-president of Insolvency Section at Madrid Bar Association - Garrigues, present at top international restructuring & insolvency events [**VIEW MORE**](http://www.garrigues.com/en_GB/new/restructuring-insolvency-newsletter-july-2018-news-and-events) [Restructuring & Insolvency](/en_GB/tags/restructuring-insolvency) ### Contacts ![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) ![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) [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/6596?f%5B0%5D=service%3A1422) - [Agribusiness and Food](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1417) - [Automotive](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1419) - [Banking and Finance](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1443) - [Corporate and M&A](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1441) - [Corporate Governance and Sustainable Development](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A12823) - [Criminal Law and Internal Investigations](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1434) - [Data Economy, Privacy and Cybersecurity](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A10913) - [Dispute Resolution: Litigation and Arbitration](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1412) - [Energy](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A10916) - [EU and Antitrust Law](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1416) - [Family Business](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1413) - [Fashion Law](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1435) - [Financial Regulation](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A10915) - [G-advisory](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A12821) - [Human Capital Services](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1431) - [Infrastructure](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A10914) - [Insurance](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1438) - [Intellectual Property](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1421) - [Labor and Employment](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1424) - [Life Sciences and Healthcare](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1429) - [Media and Entertainment](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1433) - [Planning, Zoning and Environment](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1444) - [Private Equity](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1439) - [Real Estate](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A10927) - [Restructuring and Insolvency](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1420) - [Securities Markets](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1442) - [Sports](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1430) - [Startups & Open innovation](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1426) - [Sustainability](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A10921) - [Tax](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1425) - [Technology, Communications and Digital](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1436) - [Tourism and Hotels](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1432) - [Transport, Logistics and Shipping](/en_GB/markdownify/node/6596?f%5B0%5D=service%3A1428) Facet Services detail - [Publications](/en_GB/markdownify/node/6596?f%5B0%5D=publication_type%3A794) - [Newsletters](/en_GB/markdownify/node/6596?f%5B0%5D=publication_type%3A107) - [Garrigues collection](/en_GB/markdownify/node/6596?f%5B0%5D=publication_type%3A101) - [Laws: amendments at a glance](/en_GB/markdownify/node/6596?f%5B0%5D=publication_type%3A104) - [News](/en_GB/markdownify/node/6596?f%5B0%5D=publication_type%3A105) Facet Publication type detail Min Max ## News search engine