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NEW AMENDMENT TO THE INSOLVENCY ACT. REFINANCING AND DEBT RESTRUCTURING

I.- INTRODUCTION Royal Decree-Law 4/2014 of 7th March introduced important changes to the Spanish Insolvency Act, principally orientated to facilitate company debt restructuring operations and particularly to transforming debt into capital of the company in financial crisis. II.- MAIN AMENDMENTS (a)    During the term set forth for the negotiation of debt restructuring, article 5 Bis of the Insolvency Act now allows the suspension…

NEW AMENDMENT TO THE INSOLVENCY ACT. REFINANCING AND DEBT RESTRUCTURING

I.- INTRODUCTION Royal Decree-Law 4/2014 of 7th March introduced important changes to the Spanish Insolvency Act, principally orientated to facilitate company debt restructuring operations and particularly to transforming debt into capital of the company in financial crisis. II.- MAIN AMENDMENTS (a) During the term set forth for the negotiation of debt restructuring, article 5 Bis of the Insolvency Act now…

RESTRICTIONS ON CASH PAYMENT

I. – Introduction Law 7/2012 of 29th of December on the modification of the tax and national budget regulations and on the adaptation of financial regulations in order to increase actions to prevent and fight tax fraud (hereinafter the “Act”), is aimed at establishing a series of measures to prevent and fight against tax fraud. Restrictions on cash payment are…

DECREASE IN SOCIAL SECURITY CONTRIBUTIONS

On the 1st of March Royal Decree-Law 3/2014 of 28th of February entered into force regarding urgent measures to impulse employment. This regulation sets out substantial reductions in contributions borne by the employer to the Social Security system. A) Amount of the reductions: The quota for common contingencies shall be as follows: 100 Euro per month for full time employment agreements. 75…

DECREASE IN SOCIAL SECURITY CONTRIBUTIONS

On the 1st of March Royal Decree-Law 3/2014 of 28th of February entered into force regarding urgent measures to impulse employment. This regulation sets out substantial reductions in contributions borne by the employer to the Social Security system. A) Amount of the reductions: The quota for common contingencies shall be as follows: 100 Euro per month for full time employment…