Clifford Chance

Schemes of arrangement in the reform of Spain's Insolvency Law?

28 April 2011

The text of the Draft Bill for the Reform of the Spanish Insolvency Law has recently been published and is currently pending approval before Parliament. One of the main changes is that the Draft Bill introduces a Fourth Additional Provision in relation to refinancing agreements, the contents of which draws its inspiration from other European systems, mainly from the UK model for Schemes of Arrangement.

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