Resumen de Spain: : Pre-insolvency in Spain

• The article focuses on aspects of debt restructurings in Spain which include the pre-insolvency arrangements (pre-concurso), a preliminary level prior to any formal insolvency process. It mentions the two main effects of pre-insolvency stage such as protection over mandatory insolvency and directors of the debtors are not obliged to submit voluntary insolvency. It also features Spanish private gambling company Codere which filed a pre-insolvency petition in January 2014.