Let's talk business viability nowadays; let's talk insolvency proceedings' pre-packs
Ignacio Esmorís, Lawyer at ONTIER's Litigation and Arbitration Department, has published an opinion piece in Diario La Ley, one of the main doctrinal references in the Spanish legal industry, in which under the title 'Let's talk business viability nowadays; let's talk insolvency proceedings’ pre-packs' he analyses the current state of insolvency and insolvency law, pending the transposition of Directive (EU) 2019/1023 on restructuring and insolvency.
In particular, Ignacio Esmorís refers in his article to the criteria being adopted by the Commercial Courts of Barcelona, mentioning other countries in our environment such as the Netherlands or the United Kingdom, which have issued a series of guidelines for the processing procedure of the so-called 'insolvency proceedings’ pre-packs.'
Ignacio Esmorís points out that the pre-pack is conceived as a preparatory process of operations on the company's assets, which are authorised once the insolvency proceedings have been declared, and which seek the continuity of business activity and jobs.
The article is available here