Royal decree-law 4/2014, on urgent measures for refinancing and restructuring corporate debt: amends the Insolvency Act and the exemption on mandatory takeover bids for rescue operations, and extends the special regime for calculating losses due tue impairment

Royal Decree-Law 4/2014, on urgent measures for refinancing and restructuring corporate debt, (i) introduces substantial reforms to the Insolvency Act, particularly regarding the regulation and court approval of refinancing agreements and other pre-insolvency institutions; (ii) amends the exemption on mandatory takeover bids for rescue operations; and (iii) extends for one more year (and broadens the scope of) the special regime for calculating loss based on impairment in cases of mandatory capital reduction and mandatory dissolution of companies.