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SPANAIR: VOLUNTARY INSOLVENCY PROCEEDINGS VS COMPULSORY INSOLVENCY PROCEEDINGS

I. Introduction On Friday  January 27th the airline Spanair announced the cancellation of all flights and expressed its intention to apply for voluntary insolvency proceedings on Monday January 30th. After initial uncertainty, SEPLA (the Spanish Union of Airline Pilots) announced that it would file for compulsory insolvency proceedings in an attempt to get a step ahead of the management of…

DISTRIBUTION OF DIVIDENDS AND EXIT RIGHTS FOR COMPANY PARTNERS

The application of this right has been suspended until 31st December 2014. For more information, please click here. I.- INTRODUCTION Law 25/2011 of 1st August on the partial reform of the Capital Companies Act and the incorporation of Directive 2007/36/CE of the European Parliament and Council of 11th July on the exercise of determined rights of shareholders of listed companies entered into…