Royal Decree-Law 4/2014, of 7 March 2014, on urgent matters in relation to refinancing agreements and debt restructuring

The Spanish Council of Ministers passed on 7 March 2014 the Royal Decree-Law 4/2014, on urgent matters in relation to refinancing agreements and debt restructuring (RDL 4/2014). RDL 4/2014 was published on 8 March 2014 in the Spanish Official Gazette and it entered into force on the day immediately following its publication.

The main purpose of RDL 4/2014 is to amend Law 22/2003, of 9 July, on insolvency in order to ease the successful completion of refinancing and debt restructuring processes.

In relation to the communication to be filed with the competent court informing that the relevant debtor is negotiating with its creditors a refinancing agreement or a pre-insolvency creditors’ composition agreement, RDL 4/2014 introduces certain changes…

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