## [Restructuring & Insolvency Newsletter - June 2019](/en_GB/new/restructuring-insolvency-newsletter-june-2019) # Restructuring & Insolvency Newsletter - June 2019 Spain - 06 / 06 / 2019 - - [](https://www.linkedin.com/sharing/share-offsite/?url=https://www.garrigues.com/en_GB/new/restructuring-insolvency-newsletter-june-2019) - []() - []() Previous Next ![](/sites/default/files/noticias/img/newsletter_reestructuraciones_e_insolvencias_junio_2019_4.jpg) ## [**Green light to the directive set to harmonize and strengthen restructurings in the EU**](https://www.garrigues.com/en_GB/new/green-light-directive-set-harmonize-and-strengthen-restructurings-eu) On June 6 the Council of the European Union approved the Proposal for a Directive of the European Parliament and of the Council on preventive restructuring frameworks, second chance and measures to increase the efficiency of restructuring, insolvency and discharge procedures. [****KEEP READING****](https://www.garrigues.com/en_GB/new/green-light-directive-set-harmonize-and-strengthen-restructurings-eu) ## [**The Ministries of Justice and of Economy and Enterprise submit the Bill for the Revised Insolvency Law**](https://www.garrigues.com/en_GB/new/ministries-justice-and-economy-and-enterprise-submit-bill-revised-insolvency-law) Final provision number three of the Trade Secrets Law, in force since March 13, 2019, authorized the government to approve a revised wording of the Insolvency Law within eight months. Under that authorization, on March 22 the Ministries of Justice and of Economy and Enterprise submitted a bill for the Revised Insolvency Law. [****KEEP READING****](https://www.garrigues.com/en_GB/new/ministries-justice-and-economy-and-enterprise-submit-bill-revised-insolvency-law) ## [**Judgments of interest**](https://www.garrigues.com/en_GB/new/restructuring-insolvency-newsletter-june-2019-judgments-interest) - A member state’s court entertaining an insolvency proceeding has exclusive jurisdiction to entertain clawback actions brought within the proceeding - Approval of an arrangement with a recomposition by less than a third or a rescheduling below three years prevents commencement of the assessment section - A discrepancy between insolvent debtor and insolvency practitioner over the valuation of assets is not sufficient in itself to assess the insolvency proceeding as fault-based - No specific time limit in the insolvency proceeding for requesting the netting of claims - The Supreme Court restricts penalty clauses in insolvency proceedings - The Court of Justice of the European Union (CJEU) sets case law on accelerated repayment clauses of mortgage loans under foreclosure - Late-payment interest on claims secured with a mortgage does not continue accruing after the insolvency order [****VIEW MORE****](https://www.garrigues.com/en_GB/new/restructuring-insolvency-newsletter-june-2019-judgments-interest) ## [**News and events**](https://www.garrigues.com/en_GB/new/restructuring-insolvency-newsletter-june-2019-news-and-events) - Chambers Europe 2019 directory gives highest recognition to the Garrigues Restructuring and Insolvency Department - The General Council of the Spanish Legal Profession organizes an international conference on corporate restructuring - FIDE holds a workshop on the insolvency phenomenon at groups of companies - Real Academia de Jurisprudencia y Legislación hosts a seminar on the European Directive on preventive restructuring frameworks and second chance - Editorial Sepin organizes the 1st Corporate Insolvency Conference in Madrid - FIDE analyzes rulings of the DGRN at a conference on insolvency proceedings and registers - The Madrid Bar Association looks at dealings between Sareb and insolvency receivers [**VIEW MORE**](https://www.garrigues.com/en_GB/new/restructuring-insolvency-newsletter-june-2019-news-and-events) [Restructuring & Insolvency](/en_GB/tags/restructuring-insolvency), [Spain](/en_GB/tags/spain) ### Contacts ![Adrián Thery Martí - 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