Avalanches of bankruptcy to prevent law change in Alicante

This is what the experts consulted by this newspaper pointed out after learning the latest data from the General Assembly of the Judiciary reflecting the unusual behavior recorded by this statistic.

In particular, according to the governing body of judges, between July and September seen in state courts. 283 new bankruptcy caseswell 92% more Compared to the same period last year and a new record for Alicante.

Also, unlike what happened in previous quarters, special competitions The most growing – as the so-called second chance law becomes more known – is the lawsuit filed this time with the commercial courts, that is, the commercial courts. companies and freelancers– the most increased. Up to 208 were registered in 2021, compared to 75 requested on the same dates. For their part, the number of non-business persons was 75 compared to 68 last year.

as they point out Pedro Algarra Y francisco nieto A significant part of the competitions presented by Galsán Consultores this summer, corporations or massless borrowersi.e. lack of assets to deal with debts. Something that usually happens, for example, small business those located in rental buildings or similar places.

Until now, legislation allowed such debtors to make claims. at the same time the announcement and closing of the competition, in what is known as “express competitions”. However new law Eliminating this possibility, which entered into force on September 26, and obliges to open a period of 15 days before any creditor can request the appointment of a manager. and the ordinary operation of the process, which, as the debtor explains on his behalf, complicates matters and opens up the possibility of undesirable consequences for the debtor, Sebastian CrespoFrom the procedural area of ​​Devesa & Calvo.

This has freed many small companies and self-employed people out of debt, considering the possibility of going to court. will further their decision and submitted their demands before the legislative change took effect.

change of mindset

However, experts agree that the only reason for the increase in processes that have been on an uptrend, albeit more moderately, since last year is not the interest of avoiding the new law.

For example, Pedro Algarra, many businessmen and individuals They lost their fear of applying to the competition to be free. «no longer taboo, is no longer something that points to you. There has been a change of mentality,” explains the expert. Many businessmen who once secured their personal assets and the debts of their businesses, and who, despite having lost the company long ago, still suffer the consequences of bankruptcy, would find themselves in this situation.

On the other hand, rising energy costs According to Sebastián Crespo, companies of all shapes and sizes have started to up a notch in the case of many companies, which has translated into an increase in bankruptcy filings.

Of course, in this case, the new bankruptcy law may be an advantage as it allows the debtor to file a bankruptcy case. mediation procedure negotiating a payment plan with its creditors while protecting the company from making a necessary objection. In this sense, Crespo points out that they have already prepared many of these processes in their company, given the liquidity problems that cause an increase in the energy bill and the remaining supply in many businesses.

On the other hand, Crespo argues that the new law is also a new rise in private bankruptciess, since it simplifies the procedure for accessing the so-called liability exemption assistance. so, for be debt free To date, in order to claim, it had to show good faith and put forward a payment plan, and the creditors had to reject it. With the changes made, there will be no need for a step that will no longer be necessary, and everyone will be able to directly file for bankruptcy and directly request liquidation and this release.

end of moratorium

In addition to the legislative change, another reason for the increase in the number of bankruptcies is the end of the moratorium applied during the pandemic period. prevented creditors from filing the necessary bankruptcy As the dean of the Alicante College of Economists recalls, companies that owe them Francisco Menarguespredicts that the number of processes will continue to increase in the coming months. Among other things, because statistics show that the bankruptcy figure is underused in Spain than it should be, because many companies in trouble are blindly lowering it without carrying out a regular liquidation.

So when you’re in Europe registered 47 competitions for every 10,000 companiesinside Spain is only published 13, as Menargues recalled. yes there is more data crossed over With the volume of bankruptcy that the Salary Guarantee Fund has to deal with, these procedures, the result is as follows: 15% more contests should have been encouraged already what’s happening, according to the dean of economists. In any case, Menargues underestimates the numbers, pointing out that in general companies are maintaining the economic situation with considerable solvency.