In late August 2022, the Spanish Parliament passed the transposition into Spanish law of the Directive (EU) 2019/1023 of the European Parliament and of the Council, of June 20th 2019, on Preventive Restructuring Frameworks. The draft of this new Act was subject to multiple amendments and created great local expectations (also considerable controversy). The text finally enacted in Law 16/2022 introduces major reforms in the insolvency field which we hereby depict. Introduction of the so-called…

1. Purpose The Fund to support the solvency of strategic companies (“Fund”) is aimed at offsetting the impact of the health emergency on solvent companies’ balance sheets, when these are considered strategic for the national or regional productive and economic fabric, among other reasons, on account of their significant social and economic impact, their role in terms of security, public health, infrastructure, communications or their contribution to the smooth operation of the markets, in cases…