NEW CONCURSAL LAW

On May 5 of this year 2,020, Royal Decree Law 1/2020 was approved for the new Bankruptcy Law, which will enter into force on September 1, 2020.
In said Law, Bankruptcy Law, claims its importance as an essential factor for the maintenance of companies and workers, which is still much more necessary in the new crisis, which is expected to not take long to arrive, unfortunately.
The creation of this legal text was very necessary, for the different insolvency concepts, which until now were dispersed in different regulations. It is a Law that wants to differentiate the different aspects that were insufficiently established in previous regulations, and with a view to new future European regulations, the aspect of which had not been taken into account previously.
The new Bankruptcy Law develops laws that protect companies, the self-employed and individuals in times of crisis, including mechanisms for the economic recovery of those affected in the best conditions and in the shortest possible time.