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NEW ROYAL DECREE REGARDING RESTRICTIONS ON THE USE OF CERTAIN HAZARDOUS SUBSTANCES IN ELECTRICAL AND ELECTRONIC EQUIPMENT

On Tuesday 20th November 2018, Royal Decree 1364/2018 of 2nd November entered into force, which transposes EU Directive 2017/2012 of 15th November 2017 into Spanish legislation, and which partially modifies Royal Decree 219/2013 of 22nd March regarding restrictions on the use of hazardous substances in electrical and electronic equipment. I. Subject matter of the regulation This regulation is intended for…

WITHDRAWAL BY THE LESSEE FOLLOWING THE TACIT RENEWAL OF THE LEASE CONTRACT

I. Introduction  In a recent judgment dated 26th September 2018, the Spanish Supreme Court has ruled on whether it should be understood that the tacit renewal of a lease contract occurs monthly or annually, depending on whether an annual or monthly rent has been established in the contract, with the consequences that this entails for the purposes of withdrawing from…

HOW TO FINANCE A COMPANY

  Often companies have financial difficulties or need financing for investments or business projects. In order to cover such financial requirements, one option is to look to the company partners. There are several different options available for company funding by its partners, which we sort from lower to higher enforceability, depending on whether such financing entails an increase in the…

REQUIREMENTS FOR “STRONG” COMFORT LETTERS

 I. Introduction Comfort letters are an alternative to endorsements that fulfill a personal guarantee function against a creditor or a future creditor in order for them to grant the sponsored (debtor) a corporate finance. It is an obligation of result, in which the sponsor guarantees the good purpose of the designed financing operation. The Supreme Court distinguishes between “weak” and “strong”…

NEW JUDGMENT AGAINST SPAIN BECAUSE OF CUTS TO RENEWABLES IN THE MASDAR AND ANTIN CASES

Just recently two of the twenty-seven international arbitration proceedings have concluded, which were initiated by foreign investors against the Kingdom of Spain via the International Centre for Settlement of Investment Disputes (ICSID),  attached to the World Bank, regarding the cuts applied to the  incentive system for the generation of electric energy via renewable energy in 2013: Masdar v. España Case…