Guide to bankruptcy

 

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The bankruptcy is a procedure to solve a situation of lack of liquidity of a debtor

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In this guide we make a summary of the bankruptcy regulation after the publication in the Official State Gazette of the 7 May 2020, the Royal Decree 1/2020, of 5 May, approving the consolidated text of the Bankruptcy Law, which will take effect in September of this year.

What is the bankruptcy?

The bankruptcy is a judicial procedure that is processed, depending on the type of debtor, before the Court of First Instance, in case the debtor is a natural person, not a businessman or professional, or before the Commercial Court, in case it is.

The bankruptcy has three phases: common, agreement and settlement.

From the moment the debtor cannot meet his payment obligations, namely, since you are insolvent, or foresees that you will not be able to attend them regularly and punctually (imminent insolvency), You must go to the bankruptcy process.

First, may choose the extrajudicial phase, in which an agreement with the creditors is attempted, through you remove and / or wait, focusing the objective on avoiding having to liquidate the debtor's assets in order to face their debts. In case of not getting it, will go to the judicial phase, to the bankruptcy itself, where the debtor's assets will be liquidated, to be able to face them, paying creditors in order of preference, as indicated by law. Workers or Public Administration (General Treasury of Social Security and Tax Agency), have preference over other creditors.

Ultimately, we are before a judicial procedure in which the satisfaction of debts is attempted, governed by principle "Match condition creditor": That all creditors of the same classification are treated equally

Pre-bankruptcy law: other possibilities before the bankruptcy

Is he Book II of this consolidated text the one that regulates the pre-bankruptcy law, enabling a phase of negotiations with creditors.

Negotiation with creditors: Article 583 and its protection

While in the Law 22/2003, of 9 July, Insolvency, It is regulated in the article 5 to the communication of the opening of negotiations, the so-called “pre-contest”, in the consolidated text it is included in the article 583. Is he paragraph 1 he who collects who has the right to be able to negotiate with his creditors, stating that The debtor, natural or legal person, in current or imminent insolvency, that had not been declared in bankruptcy may inform the competent court for the declaration of the bankruptcy itself the opening negotiations with creditors to obtain accessions to an advance agreement proposal or to reach a refinancing agreement that meets the requirements established in this law, provided it is not singular. ”

With this communication or "pre-contest" presented to the court that is competent, a series of effects occur, that protect the debtor.

Specifically, occurs at prohibition of initiation of judicial or extrajudicial executions either on the assets and rights integrated into the debtor's assets, o well, to request the seizure of assets or rights necessary for the debtor to continue professional or business activity. It is included the article 588 the revised text, at least during "First three months from the date of presentation of the communication of the opening of negotiations."

También executions are suspended that until the moment of communication they were being processed by the judge who was hearing them.

Last, different treatment receive the executions of real guarantees and the credits of public law.

The public debts are not affected by the communication of the start of negotiations.  

In the case of the execution of collateral, the same thing happens, unless the collateral falls on assets or rights necessary for the continuity of the activity or on the debtor's habitual residence. In this case, the execution will be paralyzed until three months have elapsed from the communication to the court, or until two months have passed, in the event that the person is natural without the status of entrepreneur.

Ultimately, this communication the "pre-contest", It is an extension that is legally granted to entrepreneurs who are about to enter bankruptcy, having a last opportunity to solve their insolvency problems and to be able to continue with their professional or business activity. And, in the case of non-business natural persons, in order to redirect their particular economic situation, without having to liquidate your assets.

Acuerdos de refinanciación

For his part, The refinancing agreements are regulated in the Title II of Book II of the consolidated text. Is he article 596 the one that defines the refinancing agreements, through differentiation of their classes. Specifically two:

“1ª.- Collective refinancing agreements, stipulated by the debtor with his creditors, with or without judicial approval.

2ª.- The singular refinancing agreements, stipulated by the debtor well with one, fine with multiple creditors, whenever they meet the requirements established in section 3. of this chapter, that in no case may they be approved by the judge. ”

Therefore, we find two types of refinancing agreements: the collectives and singular.

It is the Section 2 of Chapter I of Title II of Book II of the consolidated text which defines and regulates the requirements that a collective refinancing agreement must meet.

According to him article 597, "The debtor, natural or legal person, in current or imminent insolvency, it would not have been declared bankrupt, you can reach a refinancing agreement with your creditors at any time. If you had communicated to the competent court of the start of negotiations with creditors, the refinancing agreement must be reached within three months from the date of that communication. ” Namely, the debtor, whether or not the court has been informed of the start of negotiations, You can reach this type of collective agreement. In the event that the debtor has not made the communication, this agreement may be made at any time, while, if he had presented said communication to the court, you will have a period of three months to reach the collective refinancing agreement.

Also, must meet a series of requirements, collected in the article 598:

The requirements that a collective refinancing agreement must meet are those established by the article 598:

"1. That the agreement responds to a viability plan that allows the continuity of the debtor's professional or business activity in the short and medium term.

2.º The purpose of the agreement, at least, the significant expansion of available credit or modification or termination of debtor's obligations, well by extension expiration date, either by setting new obligations replacing those that are extinguished.

3.º That the agreement was signed by the debtor and by creditors representing, on the date it would have been adopted, at least, three fifths of the debtor's liabilities, computed in accordance with the provisions of this law, according to certification issued by the debtor's auditor.

If the debtor or the group companies are not obliged to submit the annual accounts to audit, the auditor issuing the certification shall be appointed for this purpose by the commercial registrar of the debtor's domicile and, in the case of group or subgroup agreements of companies, that of the parent company.

4.º That the agreement has been formalized in a public instrument by all those who have signed it.”

For his part, singular refinancing agreements are regulated in the section 3.

Is he article 604, the one that defines them and establishes the requirements that must be met for their validity:

“Unique refinancing agreements are those stipulated by the debtor, natural or legal person, in current or imminent insolvency, it would not have been declared bankrupt, with one or more creditors who, individually considered or jointly with those that have been stipulated in execution of the agreement. " Namely, as the name suggests, These types of agreements are those established with a specific creditor, or with several, as long as they meet a series of requirements.

The requirements that this type of agreement must meet are the following:

"1. That the agreement responds to a viability plan that allows the continuity of the debtor's professional or business activity in the short and medium term.

2.º What increase the previous ratio of assets over existing liabilities on the date of adoption of the agreement.

3.º That the resulting current asset is equal to or greater than current liability.

4.º That the The proportion of the credits with personal or real guarantees of the creditors that sign the agreement is not higher than that existing before the agreement, nor more than ninety percent of the total liability affected by the agreement. In the case of real guarantees, the value of the guarantee will be determined in accordance with the provisions of title VI of book I of this law.

5.º That the interest rate applicable to remaining or resulting credits of the agreement in favor of the intervening creditors does not exceed by more than one third the average of the interest applicable to the credits before the agreement.

6.º That the agreement has been formalized in a public deed granted by the debtor and by all the creditors involved in the same, by yourself or through a representative. In writing, the reasons that, Under the economical point of view, justify the agreement, as well as the various acts and businesses carried out between the debtor and the creditors that sign the agreement, and it will be accompanied by all the documents that justify the concurrence on the date of granting of the requirements referred to in the previous numbers. "

Only collective refinancing agreements can be homologate judicially, as long as they meet the requirements and the legally established approval procedure in the recast text is followed, specifically in the articles 605 ff. The Order that is said by the competent judge, it will be effective from the moment it is issued, and will have executive force, even if it is not firm (article 614).

settlement of payments

In the consolidated text that enters into force in September 2020, this type of pre-bankruptcy law is regulated in the Title III of Book II, Articles 631 ff.

It is another of the options offered to the debtor to try to reach an agreement with his creditors before going to the bankruptcy. Through this type of agreement, the appointment of a bankruptcy mediator will be attempted, to reach that agreement, and to be able to overcome the insolvency situation, without having to go to court. In the event that this agreement is not reached at the meeting or meeting of creditors that will be convened for this purpose, it would be necessary to open consecutive bankruptcy before the competent court.

The articles 631 a 633 they are the ones who establish the budgets, so much general, as special, namely, who can access this type of pre-bankruptcy agreement.

Specifically, the article 631 sets the general, stating that "The debtor, natural or legal person, in current or imminent insolvency, that would not have been declared in competition, may request the appointment of a bankruptcy mediator to try to reach an out-of-court settlement of payments with your creditors. If the debtor were legal entity, will competent to decide on the application the administration or liquidation body.”

For his part, the articles 632 and 633, establish special budgets, regulating that "If he debtor outside natural person, it will be necessary that the initial estimate of the value of the liability does not exceed five million euros; Si el debtor outside legal entity, it will be necessary that the initial estimate of the value of the asset or the amount of the liability does not exceed five million euros, or have less than fifty creditors, as long as, in any case, certify that they have sufficient assets to pay the expenses of processing the file. "

A series of prohibitions are also regulated, namely, which people may not request the appointment of a bankruptcy mediator, and, therefore, They will not be able to access the out-of-court payment agreement, to this pre-bankruptcy right. These prohibitions are listed by the article 634, which states that:

"1.º The people that, within ten years prior to request, would have been convicted in final judgment for crime against property, against the socioeconomic order, of documentary falsity, against the Public Treasury, Social Security or against workers' rights.

2.º People who, within the five years prior to application, had reached an out-of-court payment agreement with the creditors, had obtained judicial approval of a refinancing agreement or had been declared bankrupt.

The calculation of this period will begin to count, respectively, from the publication in the public bankruptcy registry of the acceptance of the extrajudicial payment agreement, of the judicial resolution that approves the refinancing agreement or the order that declares the conclusion of the contest.

3.º The people who are negotiating with their creditors a refinancing agreement.

4.º People whose bankruptcy application has been admitted for processing.”

The extrajudicial payment agreement or request for the appointment of a bankruptcy mediator must be made through the model adjusted to Order JUS / 2831/2015, of 17 December, by which the form for the request of the procedure to reach an out-of-court payment agreement is approved, published in the BOE on Tuesday 29 December 2015. This model contains both the inventory of assets and rights of the debtor, like the list of creditors. This model is the one that is currently in force, pending a new publication to be determined by Order of the Ministry of Justice.

In the event that the debtor is married in a community property regime or in any other community property regime, the data of the spouse will be indicated in the standardized model, as well as the matrimonial property regime. If the spouses were owners of the family home and it could be affected by the out-of-court payment agreement, the application must necessarily be signed by both spouses or submitted by one with the consent of the other.

As stated in the previous paragraph, what the form will collect will be the following:

  1. Assets and rights owned by the debtor: express the nature of each, her CARACTERISTICS, the place where they are. In case of being registered in a Public Registry, the registration identification data must be exposed, the acquisition value, valuation corrections, as well as the estimated present value. The charges or encumbrances that weigh on said assets or rights that are the owner of the debtor will also be declared..
  2. Cash and liquid assets: both the cash and the liquid assets that the debtor has and which may be available will be specified.
  3. Income: a list of the expected regular income will be presented, as well as the periodicity of the same.
  4. List of creditors: they will be declared in alphabetical order, both private and public creditors, adding your identity, Your domicile, your email address, the amount owed to them, as well as the maturity of each credit. Also personal guarantees provided or real.
  5. Executions: in case of executions against the debtor's assets, The identity of the performer will also be declared in the formalized model, the court that was processing the execution procedure, the number of cars, and the assets or rights on which such execution falls.
  6. Workers in your charge: in case the debtor has workers in his charge, will expose in the formalized model both the identity of each, as your address for notification purposes.
  7. Accounting documents: “If the debtor were legally obliged to keep accounting, it will accompany the annual accounts corresponding to the last three years. If I were an entrepreneur, will accompany, also, an updated balance. " (article 637).

Once the formalized application form for the appointment of a bankruptcy mediator has been prepared, together with the documents that prove those set out therein, You must go to a specific institution to present it. It will depend on whether the debtor is a non-business natural person, legal person not inscribable in the commercial register or, Yes it is, On the contrary, She is a natural person, a businesswoman, self-employed or legal person.

In the first case, The request will be presented at the notary of the debtor's domicile, while, in the second case, It will be presented in the Commercial Registry or in the Chamber of Commerce in case of having the bankruptcy mediation service, corresponding to the debtor's domicile.

The competent institution will review both the application and the documentation, and, in case everything is correct, will proceed, in the case of the notary, at the signing of the act that will be made a public deed. If you had to go to the Commercial Registry, before the appointment of insolvency mediator, the registration sheet will be opened in the event that it is not registered, through the application for registration as an individual entrepreneur (article 640.2). In the case of going to the Chamber of Commerce that is competent, is will assume the functions of mediation (article 644.1).

The requirements that the concursal mediator are collected in the article 642.

On first paragraph, it is established that "The bankruptcy mediator, be a natural or legal person, must have the status of mediator in civil and commercial matters, and be registered on the official list prepared by the Registry of Mediators and Mediation Institutions of the Ministry of Justice. The official list will appear on the corresponding portal of the "Official State Gazette". "

On second section, the option is given to the notary, when the debtor is a natural person not a businessman, to assume the condition of mediator, unless opposed by the debtor.

After acceptance of the position by the bankruptcy mediator, The latter must convene the creditors to a meeting or a meeting. The article 662 states "Within ten days following the acceptance of the position, The bankruptcy mediator will summon the debtor and the creditors that appear on the list that accompanies the request or of whose existence by any other means he / she is aware of a meeting in the town where the debtor has his / her domicile.. If the debtor were a natural person who did not have the status of employer and the mediator was the notary himself, the term for the call will be fifteen days from the presentation to the notary of the request for appointment of mediator. " All creditors will be summoned, except for public credits.

The purpose of this board or meeting is focused on reaching an out-of-court settlement of payments.

"The meeting must be held within two months from the date of acceptance the within thirty days if the debtor is a natural person who does not have the status of entrepreneur.” (article 662.4).

Prior to this meeting, the insolvency mediator must send the creditors a proposal, commonly called "payment plan”. It will be sent at least twenty calendar days before the date scheduled for the meeting., or fifteen calendar days in the event that the debtor was a non-business natural person (article 666).

Content of the proposed agreement or payment plan

Is he article 667.1 the one who develops the content of the proposal or payment plan:

“1.ª You wait for a period not exceeding ten years.

2.ª Remove.

3.ª The conversion of credits into shares or participations of the debtor company or another company, the conversion of credits into participating credits for a period not exceeding ten years, in convertible bonds, in subordinated credits, in credits with capitalizable interest or in any other financial instrument with characteristics, range or maturity other than those of the original credits.

4.ª The transfer of assets or rights to creditors in payment or for payment of all or part of their credits.”

"In the event that the debtor was a natural person who did not have the status of entrepreneur, the proposal may only contain you wait, removals and assignment of assets or rights to creditors in payment or for payment of all or part of their credits.” (article 667.2).

For acceptance of the agreement It is required, both the duty to attend the meeting called by the insolvency mediator, as a series of majorities (article 677 and 678). The agreement will be elevated to a public deed, communicated to the competent court and public registries, as well as published in the public bankruptcy registry.

Finally, en cuanto a la agreement effectiveness, its content will bind both the debtor and the creditors whose credits do not have a real guarantee, nor are they public credits. Creditors with collateral will only be bound if they have expressed the will to accept said agreement. (articles 683 ff).

Consecutive contest

The consecutive contest is defined in the article 695, which regulates various types of consecutive contests:

“a) That of the insolvent debtor who, in case of not having reached an agreement on a refinancing agreement or an out-of-court payment agreement typified in this law, is declared at the request of the debtor himself, creditor or, in the case of an out-of-court settlement of payments, also at the request of the mediator.

b) That of the insolvent debtor who declares at the request of the debtor who declare not being able to comply with the refinancing agreement or the out-of-court payment agreement that would have reached with the creditors, as well as the one I know declare at the request of the debtor or creditor, before or after any of these agreements, in case of non-compliance of which.

c) That of the insolvent debtor who, in case of judicial declaration of nullity or ineffectiveness of the agreement reached, is declared at the request of the debtor or creditor before or after the agreement canceled or declared ineffective.”

The judge will be competent “That had declared the nullity or the ineffectiveness of the agreement or had declared it breached or, in the case of approved refinancing agreements, the one who had approved it. In other cases, the competent judge will be the one who, in accordance with the general rules, for declaring the contest. " (article 696).

The consolidated text collects and regulates a specialty series the consecutive contest. Specifically, regarding the reintegration of the workforce (articles 697 ff.), in terms of qualification of the contest (articles 700 ff.). It also regulates the specialties of the competition following a refinancing agreement (articles 703 ff.), to an out-of-court settlement of payments (articles 705 ff.) and the specialties of the regime of this type of contests (article 707 ff.).

Budgets of the declaration of bankruptcy: objective and subjective

Going to the judicial route, to the properly denominated bankruptcy, we find the budgets for the declaration of the same in the Capítulo I, Title I, Book I, under the heading "Of the bankruptcy", specifically, on articles 1 and 2 the Refunded text.

The article 1 exposes the subjective budget, who can and who can not declare a bankruptcy, stating that "The declaration of insolvency will proceed with respect to any debtor, be a natural or legal person. The entities that make up the territorial organization of the State, public bodies and other public law entities may not be declared in competition. "

Namely, may declare bankruptcy, any debtor, be a natural or legal person, but public bodies or other public law entities may not do so.

For his part, the article 2 focuses on the target budget, namely, when the debtor has the right to declare bankruptcy. It expresses that said declaration will proceed in case of insolvency of the debtor, and that it must be based on the fact that it is in said state of insolvency. This insolvency may be current or imminent. Namely, the debtor is in a current state of insolvency if he cannot regularly meet his due obligations, while the debtor is in a state of imminent insolvency when he foresees that he will not be able to fulfill his obligations on a regular and punctual basis.

Specifically, en su apartado 4, establishes the external revealing facts of the state of insolvency on which the debtor must rely. They are the following:

“1.º The existence of a prior judicial or administrative declaration of insolvency of the debtor, when ever it is companies.

2.º The existence of a Title for which there is Execution order or enforcement order has been dispatched without the seizure having resulted in sufficient free assets known for payment.

3.º The existence of liens for foreclosures in progress that affect the debtor's assets in a general way.

4.º The generalized dismissal in current payment of the debtor's obligations.

5.º The general dismissal in the payment of tax obligations required during three months prior to the tender request; the one of the social security contributions and others concepts of joint collection during the same period, or that of the wages and compensation to workers and other remuneration derived from employment relationships corresponding to the last three monthly payments.

6.º The uprising or hasty or ruinous liquidation of your assets by the debtor.”

Types of bankruptcy

In the first articles of the consolidated text, The Bankruptcy Law focuses on who is entitled to request the declaration of a bankruptcy. Specifically, is the article 3 which states that “They are legitimized debtor and any of your creditors. (…) Also they partners of a partnership that they are personally responsible for the debts of that one. "

Through legitimation, we can differentiate between the types of contest: the volunteer and the necessary.

The voluntary bankruptcy is the one that begins at the request of the debtor, being regulated in the articles 5 ff the revised text.

The necessary bankruptcy is the one that is initiated at the request of one of the creditors and other legitimized, being regulated in the articles 13 ff.

Already in the article 29, reference is made to the concepts "voluntary" and "necessary", defining what each type of contest means.

The paragraph 1, states that "The bankruptcy will be considered voluntary when the first of the applications presented would have been that of the debtor himself. "

For his part, the paragraph 2, “The bankruptcy will be considered necessary cuando, in the three months prior to the date of the debtor's request, has been submitted and accepted for processing by any other legitimate, even if he had given up, would not have appeared at the hearing or it would not have been ratified in the request. "

Bankruptcy application

In the case of the contest voluntary, will be the debtor the one who must request the declaration of bankruptcy, "Within two months from the date on which he had known or should have known the current state of insolvency." (article 5.1).

Ya el article 6 focuses on the debtor's request, with the requirements to be met:

  • “(…) it must state the current or imminent state of insolvency in which it is found and accompany all the documents it deems necessary to prove the existence of that state. "
  • "It must be signed by a lawyer and attorney. The power of attorney granted to the attorney to represent the debtor must be authorized by a notary or by appearance before the LAJ of any judicial office (done with).”

For his part, in the contest necessary, will be the creditor the one who insists the declaration of competition, having to express "The origin, nature, the amount, the acquisition and maturity dates and the current credit situation, which will accompany the supporting document or documents, as well as the external fact or events revealing the state of insolvency from among those listed in this law on which that request is based. " (article 13.1).

The others legitimized “They must state in the request the nature in which they are formulating it, and they will accompany the document from which the legitimacy to request the declaration of insolvency results, or they will propose the proof that they consider necessary to accredit it. " (article 13.2).

Before the request of bankruptcy on the part of a creditor or legitimized of the debtor, the latter may raid or oppose. In case of opposition, the LAJ will summon the parties to a hearing, to be held in the presence of the judge, resolving by means of an auto estimate or dismissal of the bankruptcy request presented by a creditor. Against the estimate or dismissal in the car, an appeal may be filed, while, for the rest of the pronouncements, An appeal for reversal may be filed (article 25).

Bankruptcy declaration

The bankruptcy declaration will be resolved by means of a car. This insolvency declaration order must contain a series of pronouncements, listed in the article 28 the revised text:

  • Character of the contest: voluntary or necessary. If the debtor had submitted an advance agreement proposal or requested the liquidation of the asset, will also be indicated on the car.
  • Determination of the contest: ordinary or abbreviated.
  • Effects on: administrative powers and disposition of the debtor with respect to the asset.
  • Appointment of the bankruptcy administration.
  • Appeal to creditors. To inform the bankruptcy administration of the existence of their credits within a period of one month from the publication in the BOE of the declaration of bankruptcy.
  •  Contest advertising.

If the car declared a necessary contest, the car, in addition to the previous pronouncements, must contain the requirement to the bankrupt to provide documentation (the one listed in the precepts 7 and 8 the revised text).

The paragraph 3 Item 28, also, states that “(…) the judge may agree on the precautionary measures deemed necessary to ensure the integrity, the conservation or administration of the assets until the bankruptcy administrator or administrators accept the position. "

In the declaration of the contest, the common phase of the contest will open, Unless the debtor has requested the liquidation of the asset, since the judge will agree to open the liquidation phase (article 30).

In the same resolution, The contest sections will also open, specifically, the first section, if the bankruptcy had been declared at the request of the debtor, heading with the application and accompanying documents. In case anyone had been the applicant, the second sections will be formed, third and fourth, headed by the order or sentence that would have ordered their formation (articles 30 and 31).

This car will produce the immediate effects established by law, and, also, will have executive force, despite not being firm (article 32).

Competition judge's powers

To know the competition objective from the contest judge, we must go to article 44, which states that those competent to declare and process the bankruptcy are the commercial judges and those of first instance. On this last case, when the natural person is not an entrepreneur.

Regarding territorial jurisdiction, the article 45, regulates what “The competence to declare and process the bankruptcy corresponds to the judge in whose territory the debtor has the center of his main interests. Center of main interests shall be understood as the place where the debtor exercises in a habitual and recognizable way by third parties the administration of such interests. " (paragraph 1).

For his part, the paragraph 2, reflects that "In case of debtor legal entity, the center of their main interests is presumed to be in the place of the address social. The change of address registered in the Commercial Registry within the six months prior to the request for the contest will be ineffective for these purposes., whatever the date on which it was agreed or decided. "

Last, its paragraph 3, states that "If the domicile of the debtor and the center of his main interests lie in Spanish territory, although in different places, will also be competent, at the request of the requesting creditor, the judge in whose territory the domicile is located.”

If we focus on the jurisdiction, the article 52 has as rubric "Exclusive and exclusive nature of the jurisdiction", namely, the bankruptcy judge knows in an exclusive and exclusive way, of a series of subjects, that are listed in said precept. Its:

"1st The civil actions with patrimonial significance that are directed against the bankrupt, with exception of those that are exercised in civil proceedings on capacity, filiation, marriage and minors.

2.ª The Executions related to bankruptcy claims or against the estate on the assets and rights of the bankrupt integrated or integrated into the active mass, whatever the court or administrative authority that ordered it, without more exceptions than those provided for in this law.

3.ª The determination of the necessary nature of an asset or right for the continuity of the debtor's professional or business activity.

4.Those that must be adopted in the bankruptcy procedure in relation to the free legal aid.

5.ª The dissolution and liquidation of the bankrupt's conjugal society or community.

6.ª The actions to claim social debts that are exercised against the partners of the bankrupt company who are subsidiarily responsible for the payment of these debts, whatever the date they were contracted, and the actions to demand from the partners of the bankrupt company the payment of deferred social contributions or the fulfillment of ancillary benefits.

7.ª The liability actions against administrators or liquidators, in law or in fact; against the natural person designated for the permanent exercise of the functions of the office of legal entity administrator and against the person, whatever its denomination, that has the powers attributed to the highest management of the company when there is no permanent delegation of powers of the board to one or more CEOs, for damages caused, before or after the judicial declaration of insolvency, to the bankrupt legal entity.

8.ª The liability actions against auditors for damages caused, before or after the judicial declaration of insolvency, to the bankrupt legal entity. "

It also has an exclusive and exclusive nature in labor matters, as collected by the article 53. The same occurs with precautionary measures, as the article 54 states that "The exclusive and exclusive jurisdiction of the bankruptcy judge extends to any precautionary measure that affects or could affect the assets and rights of the bankrupt integrated or that are integrated in the active mass, regardless of the court or administrative authority that agreed to it, Except those adopted in civil proceedings on capacity, filiation, marriage and minors, as well as any of those adopted by the arbitrators in the arbitration procedure. "

For his part, the article 55, performs an objective extension of jurisdiction, regulating that “The jurisdiction of the contest judge extends to all civil preliminary questions, with the exception of those excluded in the previous articles, the administrative and social directly related to the bankruptcy or whose resolution is necessary for the proper processing of the bankruptcy procedure. The decision on the issues referred to in the previous section will not take effect outside the bankruptcy in which it occurs. "

Difference between ordinary and abbreviated procedure

At the time the judge dictates the declaration of the bankruptcy, you can choose the Abbreviated procedure, optional or mandatory, depending on the requirements that the specific contest meets.

The article 522 of the consolidated text expresses the optional application of the abbreviated procedure when "In view of the information available, consider that the contest is not particularly complex, addressing the following circumstances:

1.º That the list presented by the debtor includes less than fifty creditors.

2.º That the initial estimate of the liability does not exceed five million euros.

3.º That the valuation of assets and rights does not reach five million euros.

When the debtor is a natural person the judge will especially assess whether it is administrator of any legal person or if he or she responds or is guarantor of third party debts.

(…) You can also apply the abbreviated procedure When the debtor submits an advance agreement proposal or a proposed agreement, even if it is not anticipated, that includes a structural modification whereby its assets and liabilities are transferred in full.”

For his part, the article 523 regulates the mandatory application of the abbreviated procedure "When the debtor has completely ceased its activity and does not have employment contracts in force or when the debtor presents, together with the contest request, a liquidation plan that contains a binding written proposal for the acquisition of the productive unit in operation.”

At any time during the procedure, the type can be changed, from ordinary to abbreviated and vice versa, if circumstances change, as well as taking into account the greater or lesser complexity of the contest (article 524).

The specialties of the abbreviated procedure versus the ordinary procedure are regulated in the precepts 525 a 531 the revised text, regarding the reduction of deadlines in the actions of the bankruptcy administration, the processing of challenges, the deadline for the presentation of the agreement proposal, the opening of the liquidation phase, etc..

What are bankruptcy incidents?

Bankruptcy incidents are all those issues that arise during the bankruptcy proceedings, but that they do not have any special procedure indicated in the Bankruptcy Law. Bankruptcy incidents are also those actions that must be brought before the bankruptcy judge. These bankruptcy incidents will not suspend the processing of the bankruptcy.

Any bankruptcy incident that arises during the bankruptcy proceedings, It will be processed in the manner established in the Civil Law for the verbal trial, although with the specialties regulated in the Bankruptcy Law.

The trustee

Bankruptcy administration is regulated in the Chapter II, Title II of Book I, as one of the competition bodies. Specifically, on articles 57 ff. As a rule, the insolvency administration will be made up of a single member, natural or legal person (article 57).

Appointment

The article 62 states that “The appointment of the bankruptcy administrator will fall on the natural or legal person registered in the corresponding public bankruptcy registry by corresponding shift. The first designation will be made by lottery among those who appear in the list of registered and will continue with those who have successive numbers in that list, except in large contests, Judge, in a motivated way, may appoint a bankruptcy administrator other than the one corresponding to the corresponding shift when it considers that the profile of the alternative administrator is better suited to the characteristics of the bankruptcy.

The judge must motivate his appointment taking into account the specialization or previous experience accredited by the appointed in the sector of activity of the bankrupt, either to the experience with financial instruments used by the debtor for its financing or with files of substantial modification of the working conditions or of collective suspension or termination of labor relations. "

Incompatibilities and prohibitions

The articles 64 and 65 are in charge of listing the incompatibilities and prohibitions of bankruptcy administrators.

Regarding incompatibilities, the article 64 states that "They may not be appointed bankruptcy administrators:

1.º Those who cannot be administrators of corporations or limited liability companies.

2.º Those who have provided any kind of professional services to the debtor or to persons specially related to him in the last three years, as well as those who during that period would have shared with him, the exercise of professional activities of the same or different nature.

3.º Who are, whatever your condition or profession, in any of the incompatibility situations provided for in the legislation on account auditing, in relation to the debtor, its officers or directors, or with a creditor that represents more than ten percent of the bankruptcy tax. "

Regarding the prohibitions, the article 65, expresses the following:

“1. Insolvency administrators may not be appointed who are especially related to any person who has provided any kind of professional services to the debtor or to people specially related to him in the last three years.

2. In the event that there are enough people available in the list of registered, insolvency administrators may not be appointed those persons who have been appointed to said position by the same court in three competitions within the previous two years from the date of the first appointment. Appointments made in competitions of companies belonging to the same group of companies will be counted as one.

3. In the event that there are enough people available in the list of registered, A natural person who has acted in the same court as a bankruptcy administrator or representative of a bankruptcy administrator in three competitions within the previous two years may not be appointed representative of the bankruptcy administrator legal entity for the exercise of the functions of the position counted from the date of the first appointment.

4. Insolvency administrators may not be appointed who have been separated from this position within the previous three years, nor those who are disabled by application of the provisions of this law.

5. In the case of consecutive contest, in addition to these prohibitions, Those established in Book II of this law will be applicable..”

From the appointment as bankruptcy administrator, will have the term of 5 days to appear and accept the charge (Article 66). At the time of acceptance of the position, the administrator must meet the following conditions:

  • Prove that you have a civil liability insurance or equivalent guarantee in force proportional to the nature and scope of the risk covered to respond to possible damages in the exercise of your function and state whether or not you accept the position.
  • Provide the court with the postal and electronic addresses in which to communicate credits, as well as any other notification. The email address you indicate must comply with the technical security conditions for electronic communications in relation to the constancy of transmission and reception., their dates and the full content of the communications. The postal address and the electronic address indicated for communication purposes will be unique.
  • In the event that the named bankruptcy administrator concurs with any cause for challenge, will be obliged to manifest it at that time.
  • When the named person was a natural person, You must state if you are integrated into a professional legal person in order to extend the same incompatibility regime to the other partners or collaborators.

"If the named does not appear, did not have sufficient civil liability insurance or equivalent guarantee or did not accept the charge, Judge will proceed immediately to a new appointment.” (article 69).

In the event that the bankruptcy administrator appointed, do not appear, do not have insurance or do not accept the charge, "May not be appointed administrator for a period of three years in those bankruptcies of creditors that declare in the same territory. " (article 70)

Administrators may be challenged for the causes established as incompatibility, prohibition and those established in the Civil Law for the challenge of experts (article 73).

Exercise of office

Both the insolvency administrators and the delegated assistants have to carry out the position with the diligence of an orderly administrator and a loyal representative (article 80). All under judicial supervision (article 82).

Retribution

Administrators are entitled to remuneration, that will be charged to the mass. The remuneration will be determined by means of a fee that will be established by regulation. The tariff meets various specific circumstances of the contest: functions performed by the administrator in the contest, number of creditors, contest size, etc., although the tariff is subject to a series of rules: exclusivity, limitation and efficiency (articles 84, 85 And 86.1).

"In those contests that conclude due to the insufficiency of the active mass to satisfy credits against the mass, se garantizará a la administración concursal, el pago de un mínimo retributivo mediante una cuenta de garantía arancelaria.” (article 86.2)

Effects of the declaration of bankruptcy

Los efectos de la declaración del concurso vienen regulados en el Título III del Libro I del texto refundido, on articles 105 ff.

About the debtor in general

The article 105 recoge los efectos de la declaración del concurso sobre los derechos y libertades fundamentales del concursado en materia de correspondencia, residencia y libre circulación. Estos efectos serán los establecidos en la Organic Law 8/2003, of 9 July, Bankruptcy Reform, por la que se modifica la Ley Orgánica 6/1985, of 1 July, del Poder Judicial.

En cuanto a los efectos sobre las facultades patrimoniales del concursado, mientras en el concurso voluntario, el deudor conservará las facultades de administración y disposición sobre la masa activa, aunque sometido a la intervención de la administración concursal, que autorizará o denegará los movimientos según crea conveniente, en el concurso necesario, el deudor tendrá suspendidas sus facultades de administración y disposición sobre la masa activa y será la administración concursal quien le sustituya en el ejercicio de esas facultades (article 106).

In principle, la declaración de concurso no interrumpe la continuación de la actividad profesional o empresarial que ejerza el deudor (article 111).

Tras la declaración de concurso, también tendrá efectos sobre la representación y defensa procesal del concursado (articles 119 ff.).

About the debtor as a natural person

En cuanto a los efectos de la declaración de concurso sobre el deudor como persona física, podrá tener derecho a alimentos, así como el deber de alimentos (articles 123 and 124). También tendrá derecho a solicitar la disolución de la sociedad conyugal el cónyuge del concursado (article 125).

On executive declarative procedures for collateral and assimilated

Se derivan una serie de efectos con reglas generales y especiales, regulado en Articles 142 ff.

Regarding reglas generales, el texto refundido regula lo siguiente:

    • Prohibición de inicio de ejecuciones y apremios: no podrán iniciarse ejecuciones singulares, judiciales o extrajudiciales, ni tampoco apremios administrativos, including the tributarios, contra los bienes o derechos de la masa activa.” (article 142).
    • Suspensión de las actuaciones y de los procedimientos de ejecución: “los que se hallaran en tramitación quedarán en suspenso desde la fecha de declaración de concurso, sin perjuicio del tratamiento concursal que corresponda dar a los respectivos créditos. Serán null cuantas actuaciones se hubieran realizado desde ese momento. The bankruptcy judge, a solicitud de la administración concursal, previa audiencia de los acreedores afectados podrá acordar el levantamiento y cancelación de los embargos trabados on actuaciones y los procedimientos de ejecución cuya tramitación hubiera quedado suspendida cuando el mantenimiento de esos embargos dificultara gravemente la continuidad de la actividad profesional o empresarial del concursado. The levantamiento y cancelación not podrá acordarse respecto de los embargos administrativos.(article 143).

Excepciones (article 144): Regarding special rules para este tipo de procedimientos, el texto refundido regula lo siguiente:

  • Ejecuciones de garantías reales: “los titulares de derechos reales de garantía sean o no acreedores concursales, sobre bienes o derechos de la masa activa necesarios para la continuidad de la actividad profesional o empresarial del concursado, no podrán iniciar procedimientos de ejecución o realización forzosa sobre esos bienes o derechos. las actuaciones de ejecución o realización forzosa ya iniciadas quedarán suspendidas, aunque ya estuviesen publicados los anuncios de subasta.” (article 145).

About the credits

The article 152 set in your paragraph 1 that “Desde la declaración de concurso quedará suspendido el devengo de los intereses, legales o convencionales.”

On civil and commercial contracts

The article 156 regula el principio general, establishing that “La declaración de concurso no es causa de resolución anticipada del contrato.”

“En los contratos con obligaciones recíprocas, cuando al momento de la declaración del concurso una de las partes hubiera cumplido íntegramente sus obligaciones y la otra tuviese pendiente el cumplimiento total o parcial de las que fueran a su cargo, el crédito o la deuda que corresponda al concursado se incluirá, según proceda, en la masa activa o en la pasiva del concurso.” (article 157).

En caso de termination for breach, quedarán extinguidas las obligaciones pendientes de vencimiento. Regarding overdue, se incluirá en el concurso el crédito que corresponda al acreedor que hubiera cumplido sus obligaciones contractuales, si el incumplimiento del concursado fuera anterior a la declaración del concurso. Si fuera posterior, el crédito de la parte cumplidora se satisfará con cargo a la masa. In any case, el crédito comprenderá el resarcimiento de los daños y perjuicios que proceda.” (article 163).

About employment contracts

Los efectos derivados de la declaración de concurso sobre los contratos de trabajo y sobre los convenios colectivos, se encuentran regulados en la Sección 4ª del Capítulo IV, del Título III, del Libro I del texto refundido, Articles 169 ff.

What is the active mass?

La masa activa del concurso de acreedores se encuentra regulada en el Título IV del Libro I del texto refundido, on articles 192 ff.

Composition

La masa activa se compone de la totalidad de los bienes y derechos que integren el patrimonio del concursado a la fecha de la declaración de concurso (article 192).

Si el concursado es persona casada, la masa activa también comprenderá los bienes y derechos propios o privativos del concursado. En caso de estar casado en sociedad de gananciales o comunidad de bienes, se añadirán a la masa activa, los bienes gananciales o comunes si es que deben responder de las obligaciones del concursado (article 193).

Alienation

The article 205 states “Hasta la aprobación judicial del convenio o hasta la aprobación del plan de liquidación, los bienes y derechos que integran la masa activa no se podrán enajenar o gravar sin autorización del juez.”, aunque existen excepciones a esta prohibición de enajenación, listed in the article 206.

Sí se podrán enajenar los bienes y derechos sobre los que exista cuestión litigiosa promovida (article 207).

"The administradores concursales no podrán adquirir por sí o por persona interpuesta, ni aun en subasta, the bienes y derechos que integren la masa activa del concurso.” (article 208.1).

Existen especialidades, que se encuentran reguladas, en el caso de enajenación de bienes o derechos afectos a privilegio especial (Arts. 209 ff.), así como en el caso de enajenación de unidades productivas (Arts. 215 ff.).

Rescission actions

The article 226 states “Declarado el concurso, serán rescindibles los actos perjudiciales para la masa activa realizados por el deudor dentro de los dos años anteriores a la fecha de la declaración, aunque no hubiere existido intención fraudulenta.”

However, hay actos no rescindibles (article 230), como los siguientes:

  • “Actos ordinarios de la actividad profesional o empresarial del deudor que hubieran sido realizados en condiciones normales.
  • Actos de constitución de garantías de cualquier clase a favor de créditos públicos.
  • Actos de constitución de garantías a favor del Fondo de Garantía Salarial.
  • Actos comprendidos en el ámbito de leyes especiales reguladoras de los sistemas de pagos y compensación y liquidación de valores e instrumentos derivados.
  • Operaciones mediante las que se instrumenten las medidas de resolución de entidades de crédito y empresas de servicios de inversión.”

What is passive mass?

Composition

The article 251.1 establece que la masa pasiva está compuesta por “Todos los créditos contra el deudor, ordinarios o no, a la fecha de la declaración de concurso, cualquiera que sea la nacionalidad y el domicilio del acreedor, quedarán de derecho integrados en la masa pasiva, estén o no reconocidos en el procedimiento, salvo que tengan la consideración de créditos contra la masa.”

Si el concursado estuviera casado en gananciales o en cualquier modalidad de comunidad de bienes “los créditos contra el cónyuge del concursado, que sean, also, créditos de responsabilidad de la sociedad o comunidad conyugal, quedarán de derecho integrados en la masa pasiva.” (article 251.2).

Communication and recognition of credits

En cuanto a la comunicación a todos los acreedores, públicos y privados y a los representantes de los trabajadores, si los fuera pertinente, "the bankruptcy administration realizará sin demora una comunicación individualizada a cada uno de los acreedores cuya identidad y domicilio consten en la documentación que obre en autos, informando de la declaración de concurso y del deber de comunicar los créditos en la forma y dentro del plazo establecidos en esta ley.” (article 252.1). También se comunicará a la Agencia Tributaria y a la Tesorería General de la Seguridad Social, independientemente de si son acreedores del concursado, o no (article 253). También los acreedores están obligados a comunicar sus créditos (article 255).

Moreover, en cuanto al reconocimiento de créditos, será la administración concursal quien determinará la inclusión o exclusión en la lista de acreedores (article 259.1). 

Classification of bankruptcy credits

Los créditos concursales se clasifican en: privilegiados, ordinary and subordinate (article 269.1). Los privilegiados se clasifican en: créditos con privilegio especial y créditos con privilegio general.

The credits against the mass

Los créditos contra la masa se encuentran enumerados en el article 242 the revised text. They are the following:

“1.º Los créditos por salarios correspondientes a los últimos treinta días de trabajo efectivo realizado antes de la declaración de concurso en cuantía que no supere el doble del salario mínimo interprofesional.

2.º Los gastos y las costas judiciales necesarios para la solicitud y la declaración de concurso, the adopción de medidas cautelares and publication of the resoluciones judiciales previstas en esta ley.

3.º asistencia y representación del concursado y de la administración concursal durante toda la tramitación del procedimiento y sus incidentes, cuando su intervención sea legalmente obligatoria o se realice en interés de la masa, hasta la eficacia del convenio o, in another case, until the end of the contest, con excepción de los ocasionados por los recursos que interpongan contra resoluciones del juez cuando fueren total o parcialmente desestimados con expresa condena en costas.

4.º Los gastos y las costas judiciales ocasionados por la asistencia y representación del concursado, de la administración concursal o de acreedores legitimados en los juicios que, en interés de la masa, continúen o inicien conforme a lo dispuesto en esta ley, salvo lo previsto para los casos de desistimiento, allanamiento, transacción y defensa separada del deudor y, if, hasta los límites cuantitativos en ella establecidos.

5.º Los créditos por la condena al pago de las costas como consecuencia de la desestimación de las demandas que se hubieran presentado o de los recursos que se hubieran interpuesto con autorización de la administración concursal o como consecuencia del allanamiento o del desistimiento realizados igualmente con autorización de la administración concursal. En caso de transacción, se estará a lo pactado por las partes en materia de costas.

6.º retribución de la administración concursal.

7.º Los de alimentos del deudor y de las personas respecto de las cuales tuviera el deber legal de prestarlos, conforme a lo dispuesto en esta ley sobre su procedencia y cuantía, as well as, en toda la extensión que se fije en la correspondiente resolución judicial posterior a la declaración del concurso, los de los alimentos a cargo del concursado acordados por el juez de primera instancia en alguno de los procesos civiles sobre capacity, filiation, marriage and minors. También tendrán esta consideración los créditos de este tipo devengados con posterioridad a la declaración del concurso cuando tengan su origen en una resolución judicial dictada con anterioridad.

8.º Los generados por el ejercicio de la actividad profesional o empresarial del concursado tras la declaración del concurso. Quedan comprendidos en esta regla los créditos laborales correspondientes a ese período, incluidas las indemnizaciones por despido o extinción de los contratos de trabajo que se hubiesen producido con posterioridad a la declaración de concurso, as well as surcharges on prestaciones por incumplimiento de las obligaciones en materia de salud laboral, hasta que el juez acuerde el cese de la actividad profesional o empresarial, o declare la conclusión del concurso. Los créditos por indemnizaciones derivadas de extinciones colectivas de contratos de trabajo ordenados por el juez del concurso se entenderán comunicados y reconocidos por la propia resolución que los apruebe, sea cual sea el momento.

9.º Los que, conforme a esta ley, resulten de prestaciones a cargo del concursado en los contratos con obligaciones recíprocas pendientes de cumplimiento que continúen en vigor tras la declaración de concurso, and obligaciones de restitución e indemnización en caso de resolución en interés del concurso o por incumplimiento posterior a la declaración de concurso por parte del concursado.

10.º Los que, in cases of pago de créditos con privilegio especial sin realización de los bienes o derechos afectos, en los de rehabilitación de contratos o de enervación de desahucio y en los demás previstos en esta ley, correspondan por las cantidades debidas y las de vencimiento futuro a cargo del concursado.

11.º Los que, in cases of rescisión concursal de actos realizados por el deudor, correspondan a la devolución de contraprestaciones recibidas por este, salvo que la sentencia apreciare mala fe en el titular de este crédito.

12.º Los que resulten de obligaciones válidamente contraídas durante el procedimiento por la administración concursal o, con la autorización o conformidad de esta, por el concursado sometido a intervención.

13.º Los que resulten de obligaciones nacidas de la ley o de responsabilidad extracontractual del concursado con posterioridad a la declaración de concurso y hasta la conclusión del mismo.

14.º En caso de liquidación, los créditos concedidos al concursado antes de la apertura de la fase de liquidación para financiar el plan de viabilidad necesario para el cumplimiento del convenio aprobado por el juez. No tendrán la consideración de créditos contra la masa los créditos, nacidos durante la fase de cumplimiento del convenio, de que fuera o hubiera sido titular cualquiera de las personas especialmente relacionadas con el deudor, como consecuencia de préstamos o de cualquier otro contrato de análoga finalidad o como consecuencia de aportaciones dinerarias realizadas en operaciones de aumento del capital de la sociedad deudora, aunque el aumento hubiera quedado sin efecto.

15.º Cualesquiera otros créditos a los que esta ley atribuya expresamente tal consideración.”

The insolvency administration report

It is regulated in the Título VI del Libro I del texto refundido. In the articles 289 ff.

Content and structure

According to him article 292, el informe contendrá lo siguiente:

1º. Análisis de la memoria presentada.

2º. Exposición del estado de contabilidad del concursado.

3º. Memoria de la principales decisiones y actuaciones llevadas a cabo por la administración concursal.

4º. Exposición motivada sobre la situación patrimonial del concursado.

List of creditors

Uno de los documentos que irá anejo al informe, será el listado de acreedores, con la relación de créditos contra la masa ya devengados y pendientes de pago, y con expresión de los vencimientos respectivos (article 293.1. 2º).

The creditors agreement

Proposal, limits, accessions and approval

The article 315 states "He debtor and creditors cuyos créditos superen una quinta parte de la masa pasiva podrán presentar propuesta de convenio en las condiciones de tiempo, forma y contenido establecidas en esta ley. En ningún caso podrá presentarse propuesta de convenio si el concursado hubiera solicitado la liquidación de la masa activa.”

En cuanto al contenido de la propuesta de convenio, the article 317 recoge que deberá contener proposiciones de quita, de espera o de quita y espera, aunque la espera no podrá ser superior a 10 years old.

No se podrá ni alterar la cuantía de los créditos establecida legalmente, sin perjuicio de los efectos de la quita o quitas que pudiera contener, ni alterar la clasificación de los créditos. La propuesta tampoco podrá consistir en liquidar la masa activa para satisfacer los créditos (article 318).

La adhesión contendrá: cuantía del crédito o de los créditos, y la clase del mismo (article 354.1).

“Cuando la propuesta anticipada de convenio se presente con la propia solicitud de concurso voluntario, deberá ir acompañada de las adhesiones de acreedores de cualquier clase, prestadas en instrumento público, cuyos créditos alcancen la décima parte del pasivo presentado por el deudor. In the demás casos, the adhesiones a la propuesta anticipada de convenio deberán superar la quinta parte de ese pasivo.” (article 334).

“Una vez admitida a trámite una propuesta de convenio, the adhesión a dicha propuesta habrá de efectuarse mediante comparecencia ante el Letrado de la Administración de Justicia o mediante instrumento público.” (article 355).

The aprobación del convenio habrá de ser judicial, namely, el convenio aceptado por los acreedores será sometido a la aprobación del juez (article 381).

Compliance and non-compliance

Cada seis meses, el concursado tiene obligación de informar al juez del concurso acerca de su cumplimiento (article 400). Failure to comply, cualquier acreedor le podrá solicitar al juez la declaración de incumplimiento (article 402).

The liquidation in the bankruptcy

La fase de liquidación del concurso de acreedores se regula en el Título VIII del Libro I del texto refundido, on articles 406 ff.

Opening

La apertura de esta fase puede ser a solicitud del propio deudor, de forma obligada, a solicitud de la administración concursal o de oficio, produciéndose una serie de efectos sobre el concursado y también sobre los créditos concursales.

Settlement plan

El plan de liquidación se elaborará siguiendo los criterios legales establecidos en el article 417, atendiendo al interés del concurso, a la más adecuada satisfacción de los acreedores, debiendo proyectarse la enajenación unitaria del conjunto de las unidades productivas de la masa activa, o de alguna de ellas. También podrá preverse, salvo para los créditos públicos, la cesión de bienes o derecho en pago o para pago de los créditos concursales, exigiéndose para ello el consentimiento de los acreedores a los que afecte.

El plan de liquidación será aprobado por el juez mediante auto. Una vez aprobado, tendrá valor de autorización para enajenar los bienes o derechos afectos a crédito con privilegio especial o para darlos en pago o para pago, o de autorización para enajenar las unidades productivas cuando conste así en dicho plan de liquidación que se ha aprobado. Frente al auto de aprobación, cabe recurso de apelación (article 419).

Payment to creditors

Viene regulado en el Título IX del Libro I del texto refundido, on articles 429 ff.

Antes de proceder al pago a los acreedores, la administración concursal tiene que deducir de la masa activa, los bienes y derechos necesarios para satisfacer los créditos contra la masa (article 429).

Later, se pagará a los acreedores, dependiendo de la clase de crédito que tengan, en este orden legalmente establecido: credits with special privilege, créditos con privilegio general, créditos ordinarios, créditos subordinados y, last, los intereses (articles 430 ff.).

The qualification of the contest

It is regulated in the Título X del Libro I del texto refundido.

Supuestos

El concurso de acreedores se calificará por el juez como fortuito o como culpable (article 441).

Será calificado el concurso de acreedores como culpable cuando “en la generación o agravación del estado de insolvencia hubiera mediado dolo o culpa grave del deudor o, si los tuviere, de sus representantes legales y, en caso de persona jurídica, de sus administradores o liquidadores, de derecho o, in fact, directores generales, y de quienes, dentro de los dos años anteriores a la fecha de declaración del concurso, hubieren tenido cualquiera de estas condiciones.” (article 442)

También se regulan supuestos especiales de calificación del concurso como culpable en el article 443.

Consequences of the guilty classification

Las consecuencias de calificar el concurso de acreedores como culpable se establecen en la sentencia de clasificación. The article 455.2 las enumera:

“1.º La determinación de las personas afectadas por la calificación, as well as, if, la de las declaradas cómplices.

2.º La inhabilitación de las personas naturales afectadas por la calificación para administrar los bienes ajenos durante un período de dos a quince años, así como para representar a cualquier persona durante el mismo período.

3.º La pérdida de cualquier derecho que las personas afectadas por la calificación o declaradas cómplices tuvieran como acreedores concursales o de la masa.

4.º La condena a las personas afectadas por la calificación o declaradas cómplices a devolver los bienes o derechos que indebidamente hubieran obtenido del patrimonio del deudor o recibido de la masa activa.

5.º La condena a las personas afectadas por la calificación o declaradas cómplices a indemnizar los daños y perjuicios causados.”

Conclusion and reopening of the contest

Hay una serie de causas tasadas que proceden al archivo de las actuaciones y, therefore, a la conclusión del concurso, enumeradas en el article 465 the revised text, as, for example, that, de la lista de acreedores definitiva, resulte un único acreedor.

En cuanto a la reapertura del concurso, se regula en los articles 503 ff. Dependerá de si el concursado es persona natural, o persona jurídica, las causas que podrían dar a dicha reapertura.

The exoneration of the unsatisfied liabilities (BEPI)

The benefit of the exemption from liability dissatisfied, también llamado “BEPI”, se regula en los articles 486 y siguientes del texto refundido.

En caso de que el concurso de acreedores concluyese con la finalización de la fase de liquidación de la masa activa o la insuficiente de esa misma masa para poder satisfacer los créditos contra la pasa, el deudor persona natural, tendrá derecho a solicitar el BEPI, siempre que sea deudor de buena fe. Para que el juez pueda considerar al deudor, como de buena fe, ha de reunir dos requisitos¸ denominado “presupuesto subjetivo” (article 487.2):

  • That the contest has not been found guilty.
  • Que el deudor no haya sido condenado en sentencia firme por delitos contra el patrimonio, against the socioeconomic order, of documentary falsity, contra la Hacienda Pública y la Seguridad Social o contra los derechos de los trabajadores en los diez años anteriores a la declaración de concurso.

Para poder obtener el BEPI, es necesario que en el concurso de acreedores se satisfagan en su integridad los créditos contra la masa y los créditos concursales privilegiados, and, also, que el deudor hubiera, at least, intentado, celebrar un acuerdo extrajudicial de pagos (AEP). En caso de no haber celebrado el AEP, podrá también obtener el BEPI si, además de satisfacer los créditos contra la masa y los privilegiados, satisface, at least, the 25% del importe de los créditos ordinarios (article 488, “presupuesto objetivo”).

En cuanto a los efectos que produce el BEPI, se diferencian entre los efectos sobre los acreedores, respecto de los bienes conyugales comunes y sobre los obligados solidarios y los fiadores.

The article 500 regula los efectos de la exoneración sobre los acreedores, stating that “Los acreedores cuyos créditos se extingan por razón de la exoneración no podrán iniciar ningún tipo de acción frente al deudor para el cobro de los mismos.”

For his part, the article 501, que regula sobre los efectos de la exoneración respecto de los bienes conyugales comunes, states that “Si el régimen económico del matrimonio el deudor fuera el de sociedad de gananciales o cualquier otro de comunidad de bienes, la exoneración beneficiará a los bienes comunes respecto de los créditos anteriores a la declaración de concurso frente a los que debieran responder esos bienes, aunque el otro cónyuge no hubiera sido declarado en concurso. La misma regla será de aplicación a los bienes de la sociedad o comunidad conyugal ya disuelta en tanto no haya sido liquidada. Queda a salvo la facultad de los acreedores de dirigirse contra el patrimonio privativo del cónyuge del deudor por sus deudas propias en tanto no haya obtenido este el beneficio de la exoneración del pasivo.”

Last, the article 502, regula los efectos de la exoneración sobre los obligados solidarios y los fiadores, stating that “La exoneración no afectará a los derechos de los acreedores frente a los obligados solidariamente con el deudor y frente a sus fiadores o avalistas, quienes no podrán invocar el beneficio de exoneración del pasivo insatisfecho obtenido por el deudor ni subrogarse por el pago posterior a la liquidación en los derechos que el acreedor tuviese contra aquél, salvo que se revocase la exoneración concedida.”

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