MEDIATION IN STATE OF INSOLVENCY. THE EXTRAJUDICIAL AGREEMENT

MEDIATION IN STATE OF INSOLVENCY. THE EXTRAJUDICIAL AGREEMENT

News0 comments

With the entry into force of the Law 5/2012, is introduced in Spain the figure of mediation aimed at prevent the start of disputes that can be resolved through agreements.

In 2014, following an modification at the insolvency Law, it is established the insolvency mediation, also known as extrajudicial payment agreement. The purpose of this change is to try to solve the big traffic jam that commercial courts have, which makes it difficult to run an agreement and the continuation of the activityThus, with the mediation what you get is a higher speed.

The most important characteristics of this new figure are:

- The presence of a lawyer or solicitor is not required, facilitating the access

- Can access both natural persons like legal entities

- It begins by presenting an instance before a notary or commercial register

- The agreement may include the assignment of property.

- The goods may be delivered in undivided to the creditors.

However, although it has many advantages over the proccess, we highlight the existence of disadvantages or characteristics that narrow the chances of access to this figure, being the principal that the debtor must prove that you have sufficient assets to pay the mediator, otherwise you can not access.

Along with this modification we find the call “second chance”. But about that we will talk at the next article, because it be of great relevance to many considering the economic situation and its consequences.

Comments are closed.

Leave a Reply

You must be logged in to post a comment.