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Insolvency & Restructuring

Our firm specialises in the handling of insolvencies and providing advice to both debtors and creditors on restructuring and insolvency proceedings.

Our team comprises experts on insolvency law and other areas of practice which have an impact on restructuring (tax, corporate and administrative law), who stand out due to their vast knowledge on the particular features of key economic sectors. This enables us to understand how the company works, providing an essential element to drive success in restructuring or insolvency proceedings.

When the client is the debtor, we analyse their financial situation and design the most pertinent legal strategy to help them achieve their goals and guide them throughout the entire proceedings, from the petition for insolvency (voluntary or involuntary) to the proposal of arrangements, insolvency cases or, where applicable, liquidation and defence against the ruling of liability for insolvency.

Moreover, we advise clients such as creditors in insolvency proceedings, ensuring efficient communication and executing the corresponding securities where required.

The CMS Insolvency and Restructuring international team is present in 44 countries and 79 offices, advising both domestic entities and international groups in complex cross-border issues.

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The new Insolvency Legislation
In recognition of the recent changes made to the Spanish Insolvency Law, the Insolvency & Restructuring legal team of CMS Albiñana & Su

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23/02/2024
Harmonisation of avoidance rights from a Spanish perspective
Avoidance action is an umbrella term for adversary proceedings that seek to unwind or avoid transactions that occurred before an insolvency filing. These actions are also referred to as “claw-back claims”...
10/01/2024
Harmonisation of insolvency avoidance in Europe
This article continues our Law-Now series "Harmonisation of Insolvency Laws in the EU" in which we provide an overview of the articles addressing insolvency avoidance actions of the draft EU directive.As...
31/08/2023
Pre-Pack reorganisation in Serbia and Montenegro: An overview
In response to the proposal by the EU Commission on 7 December 2022 that an EU Directive be issued to harmonise certain aspects of insolvency law, this article provides a look into one of the main topics...
31/08/2023
Pre-Pack reorganisation in Bosnia and Herzegovina: An overview
In response to the proposal by the EU Commission on 7 December 2022 that an EU Directive be issued to harmonise certain aspects of insolvency law, this article provides a look into one of the main topics...
06/07/2023
The future of pre-pack sales in Luxembourg
On 7 December 2022, the EU Commission issued a proposal for a directive harmonising certain aspects of insolvency law (the Draft Directive). One key aspect of this Draft Directive is the regulation of...
06/07/2023
Proposal for European rules on pre-pack proceedings should be supported
On 7 December 2022, the European Commission published the Proposal for a Directive of the European Parliament and of the Council harmonising certain aspects of insolvency law. This Proposal is intended...
06/07/2023
Pre-pack proceedings under Belgian law: is this a fresh start?
Belgium is finally about to transpose Directive 2019/2023 on preventive restructuring frameworks and regulated pre-pack proceedings are now ac­cess­ible.European and Belgian legislative de­vel­op­mentsIn­solv­ency...
07/03/2022
EU and UK Sanctions against Russia: a focus on the Financial Sector
In recent days the EU and the UK have adopted and expanded a number of sanctions measures against Russian and Belarusian individuals and companies. This article focuses on restrictive measures directed...
01/06/2021
Some leaks can't be fixed
“Confidential information is like an ice cube... give it to the party who has no refrigerator or will not agree to keep it in one, and by the time of the trial you have just a pool of water.” This...
02/02/2021
EC Consultation on sustainable corporate governance: deadline approaching
Key action point On 26 October 2020, the European Commission launched its public consultation on sustainable corporate governance (Consultation). The Consultation closes on 8 February 2021 and we would...
07/10/2020
Germany's Business Judgement Rule not applicable to insolvency administrators
In a recent decision, the German Federal Supreme Court addressed the applicability of the Business Judgement Rule to insolvency administrators in Germany and rejected the applicability of the rule in...
05/10/2020
Restructuring outside of insolvency proceedings for imminent illiquid companies...
This article has been updated on 18 December 2020. Federal Ministry of Justice and Consumer Protection submits draft bill on preventive restructuring On 18 September 2020, the Federal Ministry of Justice...