Insolvency and elimination of debts. What to do and what not to do. […]
Insolvency and Bankruptcy Law in Spain, Individuals and Companies. Second Opportunity Law
The lawyers at White Baos Abogados and our external collaborators have specific training and background in the field of bankruptcy and insolvency law in Spain, providing legal advice in cases of insolvency and financial problems that affect companies, but we also advise businessmen, professionals, or individuals.
Our law firm can help you in the pre-bankruptcy phase, in the search for refinancing solutions, out-of-court agreements, etc. and also during the bankruptcy phase.
Our extensive training allows us to advise you whether you are a creditor or debtor (insolvent).
Especially, committed to individuals (businessmen or not), we advise you on the possibility of eliminating all your debts and starting again from ZERO, through the mechanisms included in the so-called SECOND OPPORTUNITY LAW.
This possibility of a new life, eliminating the debts contracted even though they are not paid, has been foreseen in the Spanish legislation since 2015 and is applicable to both individuals, as well as to entrepreneurs and self-employed, who can benefit, if they meet a series of requirements.
We also help in the execution and recognition in Spain of decisions handed down in insolvency proceedings by foreign courts and tribunals.
For these and any other service, contact us and we will help you.
Latest Articles and Real Cases Related
In this section we publish legal articles and real court cases of your law firm. Consult your doubts in our database
THERE are a number of foreign nationals, both individual and companies, who are unable to honour their debts but have assets in Spain, (in many cases real estate, bank accounts, etc.) in addition to assets in their country of origin. In such cases, it is possible that the debtors themselves, or where appropriate, the representatives […]
IN principle under Spanish law an individual is responsible for the payment of his debts using present and future assets. This does not apply to companies who cannot pay their debts due to insolvency but individuals may have a second chance, that allows them to cancel all their debts and start again even if they […]