Pre-insolvency · Insolvency proceedings · Restructuring · Second Chance
From the viability analysis to an orderly liquidation or obtaining second-chance debt relief. We stand by companies and self-employed professionals through every stage of an insolvency situation.
Don't wait until the situation is irreversible. The sooner you act, the more options are available. These are the signs that it is time to seek specialist advice.
When cash flow does not stretch to the end of the month and debts pile up with suppliers, the Spanish tax authority (Hacienda) or Social Security, you need to act before seizures or court claims arrive.
If the company has recorded losses for several financial years and its net equity has fallen below half of its share capital, the directors have legal obligations that cannot be ignored.
If enforcement proceedings are already under way, a pre-insolvency filing can suspend seizures for 3 months and buy time to negotiate with creditors.
The Second Chance Law (Spanish Law 25/2015, as amended by Law 16/2022) allows individuals — both self-employed workers and private individuals — to obtain the full or partial cancellation of their debts when they cannot pay them and have acted in good faith.
The process ends with the discharge of unpaid debts (Exoneración del Pasivo Insatisfecho, EPI): a court order that releases the debtor from the debts they have been unable to pay, allowing them to start over without the weight of unpayable obligations.
Insolvent individuals (private individuals and self-employed workers) acting in good faith: with no convictions for economic offences in the last 10 years and willing to cooperate with the process.
It depends on each case, but the 2022 reform has simplified the process. The out-of-court route can be resolved in 3 to 6 months. The court route can take between 6 months and a year.
The discharge (EPI) can cover debts owed to private creditors, banks, the tax authority and Social Security (with limits). Child and spousal maintenance and criminal fines are not cancelled.
Yes, but with conditions: 10 years must pass from the first discharge before you can use the mechanism again.
Tell us about your situation. The first consultation is free and comes with no obligation. We analyse your case and explain the options available to you.