Clifford Chance

Spain Coronavirus: Insolvency measures

4 May 2020

Until now, the impact of the coronavirus health crisis on insolvency proceedings had been dealt with in a very limited way in Spanish legislation, by means of a measure set out in Spanish Royal Decree-Law 8/2020, of 17 March, on urgent extraordinary measures to address the economic and social impact of COVID-19 ("RDL 8/2020") permitting the debtor to defer its duty to apply for insolvency while the State of Emergency is in force and, as a consequence of this rule, providing protection for the debtor against an application for insolvency filed by the its creditors, until two months after the State of Emergency ends.

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