Spain: The amendment of the recast Insolvency Act has now been passed and published

In brief

Today, 6 September, Spain's Official State Gazette (BOE) has published Act 16/2022, of 5 September, which amends the recast Insolvency Act that transposed Directive (EU) 2019/1023 of the European Parliament and of the Council, dated 20 June 2019. According to the Nineteenth Final Provision of the Act, it will enter into force 20 days after its publication (with the exception of its Book III, which will enter into force on 1 January 2023). 

By introducing structural changes to the Spanish insolvency system, this Act aims to make insolvency proceedings more flexible, effective and efficient; favoring pre-insolvency mechanisms, introducing changes that facilitate the restructuring of viable companies, or, when that is not possible, by facilitating quick and orderly corporate liquidations.

You will find a summary of the main changes this law has brought about here.


Click here to access the full BOE publication regarding this law amending the recast Insolvency Act passed by Royal Legislative Decree 1/2020 on 5 May to transpose Directive (EU) 2019/1023 of the European Parliament and of the Council, dated 20 June 2019.

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