The success of a business depends on many factors. Sometimes problems of insolvency and lack of liquidity arise that need to be addressed through an insolvency proceeding. The reform of the Insolvency Law has made significant advances in this legal procedure for those situations in which a professional or a company cannot meet the payment of its debts and need to address the situation with its creditors.
The Insolvency Law is the set of rules that regulate insolvency proceedings for all types of debtors, both individuals and legal entities. Insolvency proceedings or insolvency systems pursue an economic objective: to ensure that productive resources are reallocated in an efficient manner.
In September 2022, the reform of the Insolvency Law came into force. To discuss the main changes and how companies are responding in these first 6 months in force, we have with us Itsaso Santos, partner of the restructuring and insolvency area of PKF Attest.
