Law 44/2015, of 14 October 2015, of Labour Companies came into effect in Spain on 14 November 2015. It repealed Law 4/1997 of Labour Companies and established a new legal framework for corporate entities while introducing important improvements and updates.
The use of prices within advertisements is not uncommon since it is an effective way to advertise. It is a way of luring and enticing consumers with lower prices compared to other stores or with a reminder of the money they could save. There are several types of price advertising: prize competitions, promotional gifts, price display regulations, rebates & special offers, and loss leaders.
Money laundering is the process by which goods or assets from criminal activity are made to appear as if they were derived from a legitimate and legal source.
The Financial Action Task Force (FATF), established in 1989 by the G-7, combats money laundering at the international level. There are also other institutions similar to the FATF combating money laundering internationally.
Unlike most legal proceedings in Spain, in advertising disputes, preliminary measures such as injunctions to advertising, are largely allowable. Article 26 of The General Advertising Law of Spain imposes a duty to give notice to the entity that is in the process of executing an illegal advertising campaign, but this duty is not enforced when the claim concerns damage to the collective interest of consumers due to the advertisement. Law 29/2009 states that one may take action against such illicit publicity. Article 32 of this law sets out the entire process that will ensue once there has been an act of illegal advertising.
In the current economic climate – and particularly considering the conditions of the real estate market in Spain characterized by the absence of credit and lack of investment liquidity – SOCIMIs have developed as an important tool to boost the market as well as provide and promote access to leasing for citizens. This is particularly true given that leasing is seen as the only viable option for the future due to the difficulties of accessing property and other risks involved.
SOCIMIs (sociedades anónimas cotizadas de inversión inmobiliaria or a real estate investment trust) enjoy certain significant tax advantages given that, once they have fulfilled the necessary legal requirements, they are protected by a special tax regime based on a 0% Corporate Tax rate.
Financial technology, more commonly known as FinTech, is transforming the way money changes hands. The term refers to all technological innovation within the financial sector. FinTech is changing the way in which people borrow and save, purchase foreign exchange, send money and the way in which individuals and businesses pay and buy, amongst others. FinTech is an industry that shows exciting prospects both today and in the future.
Before discussing the issue of the validity of agreement clauses that regulate compulsory retirement in Spain, it is advisable to pay attention to the definition of the term retirement and remember that Articles 160 and the following articles of the General Law on Spanish Social Security regulate everything relating to retirement.
The legal framework for restructuring debt is a broad system of rules that governs the decision making process of restructuring debt, which includes a reorganization of obligations, often achieved by reducing the burden of debt by decreasing interest rates and increasing the payback period. The restructuring of debt is extremely beneficial for a company that wants to increase its ability to meet responsibilities. Furthermore, creditors may forgive some debt in exchange for a position in the debtor company.
Out-of-Court restructuring is a procedure in which an old debt is replaced by a new one. In practice, a debtor enters into a contractual agreement with its creditors in order to amend its debt obligations. The debt restructuring procedure demands a lot of time and effort due to the negotiation procedure with bankers, creditors, vendors, and tax authorities.