The Seventh Mediterranean Professional Congress wraps in Benidorm after two busy days of insights
The Seventh Mediterranean Professional Congress (CPM2023) concluded this Friday in Benidorm after two intensive days. Attendees closely examined the implementation of the bankruptcy reform approved in September 2022, including the reform’s impact and the judges’ commentary since it took effect. The program highlighted key milestones of the new directive the court community has been shaping, with emphasis on restructuring plans, prepack operations, and the concept of a second chance. The event also featured the participation of Coding Commission members, underscoring a concern shared by all professionals who advance the Statute of the Bankruptcy Manager.
Attendance reflected broad interest. This edition boasted more than 150 participants, including seasoned professionals and distinguished speakers. Local associations from Alicante, Murcia, Valencia and Castellón represented economists and lawyers across the region. Collaboration credits were extended to Eactivos.com, AXA – Alfonso Trasmonte, Clever Concursal, vLex, Tirant Lo Blanc, INBUSA and Sabadell Professional, whose support enriched the program.
The morning sessions opened with a discussion on liquidation and accountability. The panel featured Mª Dolores de las Heras Garcia, Judge of the Commercial Court No. 1 in Murcia; Salvador Vilata Menadas, Judge of the Commercial Court No. 1 in Valencia; and Carlos Martinez de Marigorta Menendez, Judge of the Commercial Court No. 2 in Santander.
Salvador Vilata Menadas explored the liquidation of bankruptcy while delving into transitional provisions and the scenarios in which this Law applies. Carlos Martinez de Marigorta Menendez analyzed liquidation processes for micro enterprises. The panel concluded with Mª Dolores de las Heras Garcia reflecting on accountability, recalling prior legislation and outlining innovations in the new framework. She emphasized that the crucial factor in reconciling accounts is knowing which system applies in each case.
After a coffee break, the session moved to the topic of “Qualification of the competition,” led by Alfonso Munoz Paredes, Judge of the Commercial Court No. 1 in Oviedo, and Carlos Nieto Delgado, Judge of the Madrid Commercial Court No. 16. Delgado highlighted six changes to bankruptcy classification, including revisions to liquidation budgets, the removal of the Public Prosecutor’s role in Article 6, and the expansion of creditor claims to potentially reclassify a case as criminal. The discussion also covered the transfer of adjudicative rights to related creditors (Article 449), preservation of the co-adjuvant role for certain personal creditors, and the technical procedural improvements under Article 450. Munoz Paredes advocated for random operation and provided practical scenarios that illustrated practical preferences.
“The law doesn’t really give a second chance because public credit is not extinguished”
This year’s convention featured an interactive session on reconstruction plans: creation and approval of classes, early warning, and business viability. Coordinators for this hands-on segment were Juan Carlos Robles Diaz and Rodrigo Cabero Gregory, both economists, along with Francisco Perez Crespo, a former member of the General Coding Commission from 2009-2011 and 2018-2021, who presented programmatic ideas for enforcement of bankruptcy governance.
Rodrigo Cabero Gregory delivered a detailed overview of different restructuring plans, their features, and potential pathways. Robles Diaz followed, noting the development of new solvency reporting tools designed to strengthen early detection and prevention under the Bankruptcy Act, ensuring that proactive measures can avert deterioration and support timely restructuring. The closing remarks from Perez Crespo presented an action plan aimed at modernizing the Bankruptcy administration and aligning it with current practice.
Thursday afternoon featured Francisco Cabrera Thomas, Judge of the Commercial Court No. 3 in Alicante, and Rafael Fuentes Devesa, Magistrate of the Murcia County Court Division 4. They discussed “Special procedures: micro-enterprise and non-collective competitions.” Fuentes Devesa emphasized mass competition frameworks, self-declared bankruptcy, and the role of a self-bankruptcy manager within the micro-enterprise landscape. The discussion also touched on the applicable regime and the conditions under which it can be implemented for very small businesses.
Francisco Cabrera Thomas also addressed the specific handling of special procedures for micro-enterprises as dictated by law, underscoring the unique challenges and practical steps involved.
The closing moment featured a review of changes to prior legislation in an agreement session. Attendees included Francisco Gil Monzo, Judge of the Commercial Court No. 1 in Castellón; Jorge de la Rua Navarro, Magistrate of Valencia County Court Section 9; and Juan Ignacio Martinez Aroca, Judge of the Commercial Court No. 2 in Alicante. Gil Monzo discussed the Temporary Law and the circumstances under which existing statutes continue to apply. Martinez Aroca outlined innovations introduced by the bankruptcy agreement and weighed the pros and cons of each option. Navarro highlighted the advantages and limitations of both the bankruptcy settlement and the restructuring plan, offering a balanced perspective on their practical consequences.
Throughout CPM2023, the focus remained on actionable insights for practitioners, with an emphasis on prevention, transparent governance, and effective use of structured procedures to support viable reorganization strategies. The event underscored the ongoing evolution of bankruptcy practice in the region, inviting ongoing collaboration among judges, lawyers, economists, and policymakers to refine a framework that serves both creditors and debtors while preserving the integrity of the process. [Attribution: CPM2023 conference proceedings and participating judges and organizers]