In order to meet the objective of preserving the activity and value of the company in the context of an insolvency proceeding, our firm counts upon the expertise of five (5) Insolvency Practitioners among its partners and lawyers, each with extensive experience and ample professional recognition, who have been acting as such for more than twenty years in most of the Commercial Courts throughout Spain. Our firm also has lawyers specialised in this field of practice.
They are professional experts in the handling of these situations, both from the procedural point of view (Insolvency Proceedings) and refinancing, who have intervened with Insolvency Practitioners of large corporate groups, listed companies -such as VERTICE 360º- (by appointment of the National Securities Commission), in Insolvency Proceedings significantly criminal in nature, complex sales of large production units…
As a result of this high level of specialisation in the field of insolvency, the Firm has been recognised by the Leaders League in 2020, in the category of “Insolvency Litigation” and “White-Collar Crime & Investigations”.
The services offered by the Firm in connection with the management and processing of insolvency situations are as follows:
– Defence of our clients’ claims in the Common Phase, Agreement Phase, Settlement Phase and Qualification Phase of the insolvency proceeding, or in an eventual Out-of-Court Payment Agreement and/or Refinancing Agreement;
– Design and organisation of refinancing processes in companies and/or groups of companies, through Out-of-Court Payment Agreements and Refinancing Agreements;
– Valuation, due diligence and verification of Production Units, for their transfer and/or acquisition;
– Submission of “express insolvency proceedings”;
– Processing of employment regulation proceedings (ERTE’s (ExpedientedeRegulación Temporal de Empleo [Temporary Workforce Reduction Plans]) and ERE’s (Expediente de Regulación de Empleo [Workforce Reduction Plans])) within the insolvency process;
– General monitoring of the Insolvency Proceedings, with the following specific actions:
Actions during the Common Phase of the Insolvency:
– Communication of claims to the Insolvency Practitioner and appearance in the insolvency proceeding(s).
– Request for declaration of non-essential assets (to enable separate foreclosure).
– Challenging the List of Creditors and/or Inventory of Assets and Rights, the interim report and the Final Texts for the recognition of claims and the market value of the assets of the Actual Value of the Collateral
Follow-up of the Insolvency Proceeding by reviewing all documents filed and resolutions issued in order to analyse their possible influence on the client’s interests.
– Review of Insolvency incidents of any nature (requests for sale of assets, precautionary measures, challenges to the List of Creditors and/or Inventory of Assets and Rights, interim report and Final Texts, claims against the Insolvency Estate and remuneration of the Insolvency Practitioner) filed by the debtor, by the Insolvency Practitioner or by other parties and, if applicable, opposition to them, provided that they may affect the client’s interests.
o Actions during the Settlement and/or Liquidation Phase (Section 5):
– Submissions and observations with respect to the eventual Advance Proposal of Agreement, Ordinary Proposal of Agreement, Evaluation Report of the Insolvency Practitioner and/or Liquidation Plan; including, as the case may be, the intervention in the Creditor’s Meeting.
– Opposition to the judgment approving the eventual Early Settlement Proposal or Ordinary Settlement Proposal.
– Review of asset sale processes and related Insolvency Proceedings of any nature (requests for asset sales, transfer of production units), filed by the debtor, by the Insolvency Practitioner or by other parties and, if applicable, opposition thereto, provided that they may affect the client’s interests.
– Requests within the Insolvency Proceeding for authorisation of separate enforcement proceedings (foreclosures outside the Insolvency Proceeding).
– Review of price distribution among privileged creditors (with security interests in personal or real property) in the event of lump sum sales or the transfer of production units.
o Actions during the Qualification Phase (Section 6), consisting of the appearance and written pleadings in the Insolvency Qualification Phase including, if applicable, intervention in the qualification hearing; intervention, if applicable, in the Precautionary Measures Phase.
o Proceedings in an Out-of-Court Payment Agreement:
– Communication of the claim and verification of its inclusion and correct qualification and quantification in the List of Creditors prepared by the Insolvency Mediator.
– Verification and analysis of the content and proposal of the Out-of-Court Payment Agreement.
– Intervention in negotiations with the debtor and the Insolvency Mediator.
– Attendance, if necessary, at the Creditor’s Meeting and communication of the vote regarding the content of the Out-of-Court Payment Agreement proposal.
– Challenge, if applicable, of the Out-of-Court Payment Agreement, by filing the appropriate lawsuit.
– Attendance, if held, at the Out-of-Court Payment Agreement challenge hearing.
o Proceedings in a Refinancing Agreement (RA):
– Communication of the claim and verification of its inclusion and correct qualification and quantification in the List of Creditors prepared by the debtor and/or the auditor in charge of verifying the eventual majorities.
– Verification and analysis of the content and proposal of the RA.
– Intervention in negotiations with the debtor.
– Challenge and/or request for a declaration of non-compliance, if applicable, of the RA, by filing the appropriate lawsuit.
– Attendance, as required, at the hearing of challenge and/or declaration of non-compliance of the Out-of-Court Payment Agreement.