On September 26, 2022, Law 16/2022: Main novelties of the insolvency reform entered into force. It is a reform carried out as a consequence of the Restructuring Directive 2019/1023. The aim of the reform is to solve the limitations of the Spanish insolvency system, focusing on the insolvency pre-pack and introducing major novelties in the benefit of exoneration of unsatisfied liabilities.

The core of the new regulations are the restructuring plans, which are defined as an action at a stage of difficulties prior to the current pre-bankruptcy instruments, without the stigma associated with bankruptcy and with characteristics that increase their effectiveness.

For all these reasons, the new insolvency legislation represents a radical change in the insolvency processing of companies and individuals.



Specifically, in this practice area we offer our clients the following services:

  • Analysis and advice in pre-bankruptcy phase.
  • Debt renegotiation and refinancing agreements.
  • Elaboration of all the necessary documentation in the request for tender.
  • Preparation of Viability Plans and negotiation with creditors.
  • Management of labor issues within the insolvency proceedings.
  • Liability of the corporate administrators in voluntary and/or necessary insolvency proceedings.
  • Preparation of liquidation plans. Assistance in orderly liquidation.
  • Protection of credits: challenge and recognition of credits in bankruptcy proceedings, as well as their claim outside the bankruptcy to company administrators and partners in cases of communication of patrimonial responsibility.
  • Legal direction and defense in bankruptcy proceedings.
    This area will deal with matters arising from insolvency, both of legal entities and individuals, extending to pre-bankruptcy, bankruptcy and financial restructuring.



The appointment of SOLIUM LEGAL S.L.P. as insolvency administrator, in any type of procedure and type of insolvent entity, involves the creation of a multidisciplinary team that, under the direct direction and control of one of the partners, appointed as representative in the procedure, will integrate legal professionals, specialized in insolvency, commercial and labor law, economists and auditors with experience in company management and economic-financial analysis, as well as in refinancing and debt restructuring processes.

In addition to the qualified staff of SOLIUM LEGAL S.L.P., we have human resources, technical and material means to successfully face the responsibility of managing bankrupt entities, always with the ultimate goal of defending the rights of creditors, of the bankrupt entity or individual and, ultimately, to collaborate with the head of the commercial court in the development of the bankruptcy proceedings.

SOLIUM LEGAL S.L.P. offers a qualified, homogeneous and comprehensive service thanks to the legal, economic, financial, banking, management and accounting specialization of the lawyers and economists who are part of the firm and covers the different areas of practice inherent to any bankruptcy: labor (ERES, individual terminations, resolution of labor conflicts), civil-procedural, corporate restructuring (mergers and acquisitions), economic viability analysis, tax and tax management.

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