Miguel Lamo de Espinosa at the III Restructuring Forum | El Economista

The Forum ‘The new insolvency law, lessons and learnings from major restructurings”, brought together experts from the sector, including Miguel Lamo de Espinosa, partner and head of the Restructuring and Special Situations area at Gómez-Acebo & Pombo.

Miguel Lamo de Espinosa, a partner in the Banking and Finance practice at Gómez-Acebo & Pombo, took part as a speaker in the III Business Forum organized by elEconomista.es on October 9. Experts from the legal and financial sectors discussed the challenges posed by regulation and its reform, as well as the fundamental aspects of restructuring processes.

In his speech, Miguel stressed that “we are faced with the prisoner’s dilemma and game theory. Everyone wants consensus and neither prisoner wants to harm the other, but if the new regulation encourages saving the company, regardless of who owns the capital, because the aim is to preserve the productive fabric, this makes us rethink consensus”. The regulation doesn’t encourage consensus and that’s the problem we’re having,” he added.

Fundamental issues were also addressed, such as the importance of restructuring plans and the pre-bankruptcy phase. In addition, the difficulty of attracting new capital in these processes was discussed, especially in companies with high indebtedness and few assets available to offer as collateral.

Another relevant aspect was alternative financing, which was presented as an agile and flexible option, although with less penetration in Spain compared to other European countries. This form of financing seeks to adapt to the specific needs of each company in this situation, but always with a prudent approach to guarantee investor protection.

Gómez-Acebo & Pombo’s participation in this event reflects the firm’s active involvement in interpreting regulatory changes and its ability to offer innovative solutions in restructuring processes.

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