Royal Decree-law 11/2014, of September the 5th, on urgent reform measures of Bankruptcy Procedure.

On September the 7th, the Royal Decree-law 11/2014, of September the 5th, on urgent reform measures of Bankruptcy Procedure, entered into effect. Its main objective is, to transfer to the Regulation of Settlement with Creditors, the clear idea that the economically viable Business continuity enhances the global economy and helps maintaining employment.

 

The enforcement of this new regulation is of paramount importance for the flexibilization of the procedure to transfer, either the bankrupt business as a whole, or to transfer one of its fields of activity.

 

 

A broad transitional law allows the application of this new bankruptcy regulation to currently ongoing Insolvency procedures.

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