Government’s bankruptcy law collides with 607 amendments in pursuit of “political consensus”

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Administrators caution that the superiority of public debt in collections facilitates waiver of loans to viable firms

The Minister of Justice, Pilar Lopp, congratulates Nadia Calvino, the Economic Vice President.
The Minister of Justice, Pilar Lopp, congratulates Nadia Calvino, the Economic Vice President.Europa Press

The new bankruptcy law will proceed before next June 30 if yes or no. It is a commitment that the government acquired with Europe to receive part of the funds. next generation requested the European Commission. However, the transfer of the European Directive – which is dated from 2019 – will not be free from political confrontation. up to 607 revision Various parliamentary groups have presented a project that still marks the distance with our European neighbors and, despite the fact that the Minister of Justice, Pilar Lopp, has emphasized on several occasions that it is a “consensus project”.

Relevance that the public debt still persists Insolvency is one of the most controversial aspects in the eyes of experts within the stage. This item is not privileged in most European countries, however, the EU chooses to introduce ‘loose’ legislation on the matter and gives member states the ability to comply with their laws. In Spain, everything indicates that its prevalence will continue, a situation that, according to the region, will “reduce a second chance.”

Bankruptcy administrators warn that not reducing the current priority of the public debt in our legal system violates one of the fundamental principles on which the Directive is based: Loan waiver facility to protect companies that are viable, “Practically all groups agree that the public debt should not be so privileged as it may make it difficult to get a second chance and one of the purposes of this law was to improve its access. almost impossible”, underlined Diego CommanderPresident of the Professional Association of Bankruptcy Administrators (Espaq).

In the eyes of Comandador, this is not the only problem that has arisen from the writing of this document. The Aspac leader assured that ” New special process designed for micro enterprises“puts the creditors in a position of “helpless” because it is the debtor who gets all the powers to settle their debts. He says that “an administrator must be present” to control the process because a debtor is a Those in bankruptcy who “do not leave” find themselves in the best mental state to liquidate their assets”, which “can lead to unorthodox practices and mistakes”. “We defend that this should be handled by the bankruptcy administrator to guarantee creditors that the liquidation has been carried out in an orderly fashion,” he explains.

Espac’s president recalls that the law, approved in 2003, was approved “unanimously” and encourages parliamentary groups to “obtain broad consensus” within the chamber. Remember that “this is a transversal law that affects everyone” and it regulates an activity that contributes “between 0.5% and 1%” to the national GDP annually. “What is desirable is a unanimous consensus. I can’t tell you what it’s going to be, it depends on the flexibility of the government. Many amendments from different groups match, they are unanimous. It depends. The flexibility of the government to introduce changes,” he remarked.

no avalanche of competitions

The moratorium imposed by the executive after the outbreak of the pandemic expires this June. Don’t think the Spanish courts will collapse, retained EL Mundo as sources close to the drafting of the bankruptcy text. They emphasize that the economy is “not going through such a bad phase” as the above situation arises. “There are no statistics that indicate this may be the case,” he insists.

For his part, Diego Comandador assures that they are “hopeful”, although he also says that it will not be a barrage. “There will be a huge number of companies that have fallen by the wayside,” he says.

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