As noted in our previous articles (links to articles 70 and 71), the imposition of criminal liability on legal entities, as a result of the Spanish Penal Code reform, calls for proper control by the legal representatives of a company.
Competition law in the European Union and competition law in the United States and the United Kingdom appear to have the same, or similar, objectives but are very diverse in the manner in which they deal with the law and issues that arise. The differences arise in matters such as fighting cartels, which is more common than one may think.
On 3 July 2015, the Official Spanish Gazette published Law 15/2015 on Voluntary Jurisdiction. Some part of its clauses came into force on 23 July, while many others will come into effect at a later time.
In previous articles, we have discussed the different ways that an employer may terminate labour relations with its employees.
Since 2012, after the labour reform and because of the serious economic crisis that Spain suffered, many companies had to make such contractual terminations based fundamentally on accredited economic circumstances.
To sum up, companies that suffer from patrimonial imbalances and/or situations of insolvency can either reach agreements with their creditors (partners or third parties) in order to guarantee the viability and the survival of the business or, if they default, put an end to the corporate activities and proceed to the adequate dissolution and winding-up of the company.
A limited liability company (L.L.C.) is the most common company form in Spain given its balance between regulatory oversight and freedom to contract and the simplicity of its formation.
Articles 360-370 of the Spanish Companies Act regulate the dissolution of limited liability companies (L.L.C.).
Last May, the Spanish Supreme Court overturned a Court of Appeals ruling on a dispute between Air France and one of its part-time employees regarding the counting of the employee’s paid leave (Cass. Soc., 12 May 2015, No. 14-10.509). The subject of paid leave, an irrefutable right, is not always clear to both employees and employers.
A L.L.C. is a company with a flexible legal framework, with few mandatory rules and which places a special emphasis on the will of the parties as expressed in its articles of incorporation.
The main advantage in acquiring a shelf company is saving time. A company’s start-up period can be circumvented by acquiring a shelf company and the purchaser receives a company which is capable of acting within a very short time.
