{"id":10089,"date":"2020-12-15T08:14:03","date_gmt":"2020-12-15T07:14:03","guid":{"rendered":"https:\/\/www.white-baos.com\/?p=10089"},"modified":"2020-12-15T08:14:06","modified_gmt":"2020-12-15T07:14:06","slug":"bankruptcy-law-in-spain-actions-prior-to-the-insolvency-process-and-influence-on-the-insolvency-and-elimination-of-debts","status":"publish","type":"post","link":"https:\/\/www.white-baos.com\/en\/bankruptcy-law-in-spain-actions-prior-to-the-insolvency-process-and-influence-on-the-insolvency-and-elimination-of-debts\/","title":{"rendered":"Bankruptcy law in Spain. Actions prior to the insolvency process and influence on the Insolvency and elimination of debts"},"content":{"rendered":"\n

SPANISH bankruptcy law, in relation to insolvency and elimination of debts, stipulates that there are a number of actions which are unacceptable and which if proven can negate the insolvency process<\/p>\n\n\n\n

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Guilty Insolvency<\/strong><\/h2>\n\n\n\n

If a bankruptcy is declared guilty, it means that it is understood that the bankrupt or insolvent is responsible for the insolvency.<\/p>\n\n\n\n

Legally, this can be declared, when the debtor, voluntarily or in a negligent way, has created or worsened the insolvency.<\/p>\n\n\n\n

However, the insolvency will be classified as unplanned, if it is not the fault of the person declared insolvent.<\/p>\n\n\n\n

For example: if a self-employed person becomes ill, is unable to work and accumulates debts which results in their insolvency. In this case, it is clear that the insolvency is not their fault or intention.<\/p>\n\n\n\n

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The benefit of elimination of the unsatisfied liability (in Spanish known as BEPI)<\/strong><\/h2>\n\n\n\n

The exoneration of the unsatisfied debts (BEPI), is a possibility provided for in Spanish bankruptcy law in order to forgive unpaid debts.<\/p>\n\n\n\n

This possibility is normally conditional upon the complete liquidation of the debtor’s assets.<\/p>\n\n\n\n

Obviously, the BEPI, in individuals, is the ultimate goal and the main objective when starting a bankruptcy process.<\/p>\n\n\n\n

Therefore, it is essential to take the necessary steps and meet the requirements, to be able to access it.<\/p>\n\n\n\n

One of the requirements to be able to access the BEPI is that the bankruptcy has not<\/strong> been declared GUILTY.<\/p>\n\n\n\n

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Actions and behaviours that will cause consideration as Guilty Insolvency.<\/strong><\/h2>\n\n\n\n

The new Bankruptcy Law, in its articles 443 and 444, reviews the actions of the debtor, which may affect the declaration of the bankruptcy as guilty.<\/p>\n\n\n\n

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Due to their seriousness, they always lead a Guilty Consideration;<\/strong><\/p>\n\n\n\n