The Spanish Parliament is dealing with a preliminary draft of the amendment to the Insolvency Act. Therefore, although it is not yet a definitive and fully effective regulation, it clearly anticipates some significant aspects which are very likely to be approved in its current terms and which will impact positively restructurings in Spain. For instance, it will favour out-of-court restructurings by providing new restructuring alternatives for the different players in the current Spanish restructuring market.
May 30 2011