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MCHM Lawyers - Lawyers - Bankruptcy Law https://www.mchmabogados.es/idiomas/en/abogados-derecho-concursal-almeria Lawyers in Almería 950 106 453 / 674 21 65 59 info@mchmabogados.es Law 16-2022: A New Horizon for Business Restructuring in Spain ⚖️ Analysis of the New Restructuring Plans Introduced by Law 16/2022 and Their Impact on Business Viability. Law 16/2022, enacted on September 5, has introduced a significant reform of the Spanish insolvency system, bringing deep changes to business insolvency and restructuring procedures. This legislation seeks to modernize and streamline the processes, offering more effective tools for the financial and operational restructuring of struggling companies. Below, we analyze the most relevant aspects of this law and its impact on business viability. ✍️ Objectives and Principles of Law 16/2022 The main goal of Law 16/2022 is to facilitate the restructuring of viable companies and the orderly liquidation of those that are not. Among its key principles are: Streamlining Processes: The law introduces mechanisms to reduce the judicialization of procedures, easing the burden on courts and speeding up resolution times. Second Chance: The concept of a second chance for debtors is reinforced, allowing more flexible restructuring tailored to the specific needs of each case. Protection of Financing: The law provides special protection to financing granted during restructuring processes, incentivizing investment in struggling companies. Restructuring Plans: A Key Tool Restructuring plans are presented as an essential pre-insolvency tool to overcome insolvency situations. These plans allow for modifications to the company’s assets, liabilities, or equity, as well as any necessary operational changes to overcome financial difficulties. When Can They Be Adopted? The law allows for these plans to be implemented when the debtor foresees that they will not be able to meet their obligations within the next two years, a situation known as “likelihood of insolvency.” This foresight increases the chances of successful restructuring by enabling early intervention. Impact on Creditors Almost all credits can be affected by the restructuring plan, with some exceptions such as maintenance credits arising from family or labor relationships. The law introduces the classification of creditors into different classes based on various criteria, which is fundamental in determining how plans are voted on and how they can be challenged. Case Studies and Jurisprudence A notable example of the application of Law 16/2022 is the homologation of a restructuring plan for a large Spanish steel company by the Commercial Court of Barcelona in September 2023. This case set a milestone by approving Spain’s first non-consensual restructuring, where bondholders took 100% of the equity, dragging along the debtor’s shareholders. This event has created a call for specialized investment funds in stressed situations, positioning Spain as a focal point for these investors. Conclusion Law 16/2022 represents a paradigm shift in the Spanish insolvency system, providing more effective and flexible tools for business restructuring. Its impact on business viability is significant, offering a second chance to viable companies and facilitating the orderly liquidation of those that are not. The special protection for financing and the reduction of judicial involvement are key aspects contributing to a more favorable environment for restructuring and investment. The implementation of this law, along with the development of jurisprudence through practical cases, is transforming the business landscape in Spain, offering new opportunities for recovery and economic growth. ✨ ⚖️ Welcome to the Online Commercial Process offered by MCHM Abogados. Through our online platform, we provide you with the convenience of completing the entire process from the comfort of your home, without the need to visit our office or the courts (except for imperative procedures). Below, we guide you through each step of the process: Access to Your Personal Account: Once you access our website at https://www.mchmabogados.es/inicio-sesion-mchmabogados-almeria [Commercial], you can create a personal account or log in if you already have an existing account. From your personal account, you will have access to all the necessary tools to complete the Commercial process. Document Upload: From your personal account, you can upload all the documents necessary to initiate the Commercial process (this includes documents relevant to your case). Receiving Notifications and Requirements: Once you have uploaded your documents, you will receive notifications and requirements through your personal account on our online platform. These notifications will include information about the status of your case, any required actions on your part, and any important communications related to your Commercial process. Tracking the Process: From your personal account, you can track the progress of your case in real-time. This includes information about hearings, court resolutions, and any other relevant updates. Communication with Your Lawyer: Through our online platform, you will have the ability to communicate directly with your assigned lawyer. You can ask questions, make inquiries, and receive personalized legal advice at any time during the process. Receiving the Final Judgment: Once the process is completed, you will receive the final judgment through your personal account on our online platform. This judgment will include any decisions made by the court regarding your Commercial case. In summary, our Online Commercial Process offers you the convenience and flexibility of completing the entire process from the comfort of your home, without the need to visit our office or the courts (except for imperative procedures). With access to your personal account on our online platform, you can upload documents, receive notifications, communicate with your lawyer, and track the progress of your case in real-time. At MCHM Abogados, we are committed to providing you with the best possible service throughout the entire Commercial process. For more information, feel free to contact MCHM Abogados. ✍️

Ley de Segunda Oportunidad

Brindamos soluciones legales para superar situaciones de insolvencia y recuperar su estabilidad financiera, empezando de nuevo con confianza.

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Accidentes de Tráfico

Defendemos tus derechos tras un accidente de tráfico para que obtenga la compensación que merece y luchamos por la máxima indemnización en Almería. Su tranquilidad es nuestra prioridad.

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Asesoramiento legal en materia de testamentos, herencias y sucesiones.

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Asesoramiento en procesos concursales, cierre y reestructuraciones empresariales. Te acompañamos en el proceso.

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