Assignment of receivables and legal standing: are there expansive effects of arbitration?

The assignment of receivables is a deal, which is concluded between a creditor or assignor and a third party or assignee where the former transfers to the latter the ownership of a certain receivable, without the need of the debtor’s intervention. However, once the debtor knows of the assignment, only the payment to the assignee frees the debtor from their obligation.

Marketing high-risk products in Spain: new case-law?

Recently, the press has referred to a specific judgement of the Provincial Court of Madrid from 14 November as unprecedented on the ground that, in declaring the contract void and ordering the bank to pay back its client the amount of their investment, the court based its judgment on the (mere) wrong qualification of the product in question (a structured bond) and not on the concrete circumstances of each client of the product.

Setting-up a branch vs. subsidiary in Spain

A branch and a subsidiary are the two main legal forms through which a foreign investor can develop their activity in Spain. While a subsidiary is an independent and autonomous legal entity, different from its parent Company, for which it participates in the market on its own account and risk, a branch is a secondary establishment completely dependent on its parent Company, being a mere extension of the latter on Spanish territory.

Definition and requirements of a collective dismissal in Spain

Introduction

Regulation and interpretation of a collective dismissal according to European Law

European Directive 98/59/EC regulates collective dismissals and defines them as dismissals by an employer for one or more reasons not related to the individual workers, where the number of dismissed employees is at least 20, for a period of 90 days, regardless of the number of workers normally employed in the workplace in question.