Spanish Government has approved the remission of the law project to reform the arbitration Law and the regulation of the institutional arbitration of General Administration of the State of 2003, to the legislative entity power.
In the event you know or believe a deceased party has assets in Spain, you may follow the procedures outlined below to discover the extent of these assets and to successfully retrieve them.
Eurofenix publication Enforcement of bank guarantees – April-2010
What happens if the beneficiary of a bank guarantee or other surety decides to enforce it against a payment default by a debtor who has been declared insolvent? This is a crucial question not only for the beneficiary of the guarantee but also the granter thereof – in many cases a financial institution.
Das spanische Insolvenzgesetz, welches in einer Zeit des wirtschaftlichen Aufschwungs erlassen worden war, ist kürzlich – im Zuge der weltweiten Finanz- und Wirtschaftskrise – durch das Königliche Dekret 3/2009 vom 27. März reformiert und umgestaltet worden.
The Insolvency Law of Spain protects creditors in case of misconduct or negligence by directors (“administradores”) of a company in insolvency; such a disposition is specifically useful as it is of utmost importance for there to be confidence in the protection that the economic legal framework offers to creditors.
