Three years of restructuring plans: legal trends and real-world applications

Three years after the enactment of Law 16/2022, restructuring plans have become the core instrument of Spain’s pre-insolvency framework. This article examines the recent judicial developments regarding creditor class formation, the definition of affected liabilities, and the requirement of business viability, together with the evolving role of restructuring experts. It also addresses divergent judicial approaches to court confirmation and interim financing. The analysis shows an increasing consolidation of protective standards but highlights persistent inconsistencies that call for greater uniformity and a more substantive culture of preventive restructuring in Spain.

You can read the full article here.