Can I buy a company in bankruptcy liquidation?

compraventa empresa en concurso









Sometimes a company has no viability alone, but can be integrated into other interesting company or group: Can you buy a company in bankruptcy liquidation?

The bankruptcy law the priority of this form of settlement by favoring the business continuity and can facilitate getting a higher sale value would be achieved "scrapping" the company, thereby also benefiting the creditors.

Regarding the regulation, there are some rules in Articles 148 and 149 of the Bankruptcy Act, but insufficient. There will be the liquidation plan, whose approval is for the bankruptcy judge.

The buyer can get the company to pay a lower price than the company would have if it were in competition. If the company is running, get a few active part and the other, about intangibles embedded in a larger organization, can generate a lot of value.

Occasionally, buyers of the company may be workers of the company, who believe in the future of it and know very well the chances of it.

On most occasions when such operations occur, The buyer is another company in the same industry.

The receivers must submit your liquidation plan, and with the approval of the judge, would be responsible for selling the company.

In the plan of liquidation, the receivers determine whether globally or settlement is completed in parts, and Information System: It can be done by judicial or notarial auction, directly to the highest bidder above minimum or combination of the above systems for sale.

A very important aspect to consider is the following: The order of the court in which the sale of the company approved the agreed cancellation of all previous charges constituted the contest in favor of bankruptcy claims not special privilege under Article 90 of the Bankruptcy Act (art. 149.3 LC).

Buying the company understood unless expressly noted otherwise, intangibles as concessions, licenses, marks and claims against third parties. Thus, can be very interesting purchase for another company.

However, not considered a case of business succession, so are not passed to the buyer contracts, unless expressly stated otherwise.

Employment purposes, yes it is considered that no succession of the company and the buyer assumes the previous business debts and obligation to continue employment contracts (art. 149.2 Insolvency Act). But these obligations, can be excluded by the receivers in its liquidation plan.

There are opportunities to buy companies with valuable assets but bankrupt. There are many foreign companies are mainly looking for opportunities in Spain. Buying an insolvent company can be very interesting for all stakeholders, because when you try to sell the company in pieces, the total obtained is often much lower, whereby everyone loses.

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