The discussion in the Spanish Parliament of the draft of the new Insolvency Law, which must enter into force no later than June 30, is currently underway. The high number of amendments (607) will make it necessary for politicians to work hard and reach a consensus on the text in order to meet the required deadlines.
In insolvency proceedings, speed is vital for a company to be able to continue operating, both during the process and to reach an agreement with its creditors. If it is slow, the stigma of insolvency becomes chronic and economic activity is penalized, jeopardizing or ending its possible viability.
It is foreseeable that the new law will lead to a lower number of appointments, but its figure, endowed with due content, power and economic recognition, must be vital to bring us closer to the agility, in terms of time, and success, in terms of the viability of insolvent companies, which we see with envy in other legal systems.
