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International Corporate Rescue

Journal Issues

  • Vol 1 (2004)
  • Vol 2 (2005)
  • Vol 3 (2006)
  • Vol 4 (2007)
  • Vol 5 (2008)
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  • Vol 12 (2015)
  • Vol 13 (2016)
  • Vol 14 (2017)
  • Vol 15 (2018)
  • Vol 16 (2019)
  •         Issue 1
  •         Issue 2
  •         Issue 3
  •         Issue 4
  •         Issue 5
  •         Issue 6
  • Vol 17 (2020)
  • Vol 18 (2021)
  • Vol 19 (2022)
  • Vol 20 (2023)

Vol 16 (2019) - Issue 3

Article preview

Treatment of Shareholders’ Right of Separation in Insolvency Proceedings

Agustín Bou, Partner, Restructuring and Insolvencies, JAUSAS, Barcelona, Spain

Synopsis

The judgment of Audiencia Provincial de A Coruña (Provincial Court of A Coruña, the 'Provincial Court') in its ruling number No. 12/2018 of 15 January 2018 (the 'January 2018 Judgment') resolved some of the most relevant issues related to the exercise of the right of separation by a company’s shareholder pursuant to Article 348bis of the Spanish Capital Companies Act ('LSC'), including, among others, after what time a shareholder loses its status for the purpose of Article 92.5 of the Spanish Insolvency Act ('LC') (see below) and the status of the shareholder’s claim arising from the exercise of the right of separation in the waterfall upon insolvency.

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International Corporate Rescue

"International Corporate Rescue is the ultimate legal and commercial guide through the maze of complex cross border insolvency and restructuring issues."

William Q Derrough, Managing Director and Co-head of Recapitalization & Restructuring Group, Moelis & Company, New York

 

 

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