The Madrid Senior Commercial Judges have published the conclusions of the meetings held on November 7 and 21 on the unification of applicable criteria of the reforms of the Insolvency Act enacted by Royal Decree-Law 11/201415 and Act 17/2014.16
The document analyzed matters relating to article 5 bis IA, Additional Provision Four IA, article 71 bis IA, the insolvency agreement, the subordination of loans, the classification of the insolvency, the sale of the production unit and liquidation in insolvency. It specified that these resolutions are not binding decisions that could condition a legal decision, but an approach to the criteria used to deal with practical problems detected to date. They are interpretation guidelines for uncertain issues, mainly of a practical and operational nature. The intention was to provisionally establish common positions guaranteeing, to the extent possible, homogeneity in legal treatment and legal certainty for those operating in practice.
The conclusions are available in Spanish at Conclusions of Madrid Commercial Judges on 2014 Reforms.