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
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Bankruptcy of foreign individuals and companies in Spain. Insolvency Process Recognition. Territorial Insolvency Process.
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 […]
Insolvency of individuals (not companies). Second Opportunity Law. Cancelation of the debts and start again. Bankruptcy. Legal advice.
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 […]