Extrajudicial agreement of payments

Identifier:  TFG:506

Handle: https://hdl.handle.net/20.500.11797/TFG506

Authors:  Bigorra Rodríguez, Pau

Abstract:
In response to the current economic situation, by the legislature through the adoption of Law 14/2013, of 27 September, support for entrepreneurs and internationalization is entered in Title X of the Ley Concursal the figure of extrajudicial agreement of payments. This Final Project analyzed descriptively this figure pointing some propositions as conclusions about the measures that are considered necessary to provide such flexibility to the figure so that it can be fully operational and thereby achieve the desired purpose. It is an alternative measure to insolvency proceedings to be filed by the debtor, is substance to the Registrar or Notary depending on whether the debtor is a subject of compulsory registration in the Registro Mercantil, and is driven by the bankruptcy mediator with an unambiguous end: reach a payment plan with creditors. Are excluded from the negotiation public law claims and security interests despite the latter if the holders can participate desirable understand the agreement. The contents of the payment plan, a central element of the Settlement Payment, may not establish in any case, remove over 25% of the loans involved, and neither can be established waits exceeding three years. To be approved, the payment plan must be accepted by those creditors representing, at least, 60% of the funds affected. In any case, the agreement frustration will lead to the consecutive insolvency proceeding, which is none other than the insolvency proceedings pending itself with some specificities. Such failure shall be confirmed given the impossibility of reaching an agreement, judicial annulment of the agreement or the breach of the payment plan.