Posts Tagged ‘Mariscal’

Enforcement of bank guarantees

Eurofenix publication Enforcement of bank guarantees – April-2010

What happens if the beneficiary of a bank guarantee or other surety decides to enforce it against a payment default by a debtor who has been declared insolvent? This is a crucial question not only for the beneficiary of the guarantee but also the granter thereof – in many cases a financial institution.

Spanish Insolvency Law: the responsibility of directors in a situation of insolvency

The Insolvency Law of Spain protects creditors in case of misconduct or negligence by directors (“administradores”) of a company in insolvency; such a disposition is specifically useful as it is of utmost importance for there to be confidence in the protection that the economic legal framework offers to creditors.