Main amendments to Spanish Pre-Insolvency debt restructurings introduced by Royal Decree Act 4/2014

2. Main amendments
&nbsp,
The main amendments introduced by RDA 4/2014 can be summarised as follows:
&nbsp,
a) New effects of filing for pre-insolvency
&nbsp,
Traditionally, the main effect of filing for pre-insolvency under art. 5.bis SIA (for the purpose of entering into negotiations to refinance a debt or reach an early composition of creditors) has been the protection of the debtor from being filed for insolvency within a period of 3+1 months as well as suspending the obligation of such debtor to file for insolvency…