The Protection of Involuntary Creditors by Spanish Insolvency Law (Los Acreedores Involuntarios en el Concurso) (Spanish)

Abstract

This paper reviews the treatment afforded to involuntary creditors (ie, creditors for damages) by Spanish Law 22/2003, of July 9, on Insolvency. The article describes the legal regime (mainly, art. 91.5 of the Law), points out interpretative difficulties and shortcomings of the current legal regime, and advances a functional interpretation and several options for reform of the legal system - with the aim to provide enhanced protection to involuntary creditors.

Note: downloadable document is in Spanish

Keywords: Involuntary Creditors, Insolvency, Bankruptcy, Creditor Privilege

JEL Classification: K13, K29, K39