The Council of Ministers approved on July 21, 2020 the decision on the functioning of the solvency support fund for strategic companies (FASEs, after its initials in Spanish), requirements to be eligible for the support, restrictions regarding beneficiary companies and reporting obligations on received support.
To address the impact of the health crisis, on June 24, 2020 the Council of the European Union approved Directive 2020/876/EU, amending the time limits for the filing and exchange of information set out in Council Directive 2011/16/EU (DAC6).
As the European Commission did with its solvency support instrument launched at the end of May having the general features described here, the Spanish government has created (in Royal Decree-Law 25/2020) a new fund designed to try to prevent insolvencies at economically viable companies.
Law 34/2015, of September 21, 2015, partially amending the General Taxation Law, introduced a new article 252 defining the voluntary adjustment regime preventing the tax authorities from passing on an official copy of the case record to the court with jurisdiction and sending the case to the public prosecutor’s office.