Insolvency and reorganization lawyers in Spain also advise debtors and creditors in restructuring operations and extrajudicial refinancing of their debts, as well as about legal measures to be taken in order to ensure that agreements reached out of the scope of court proceedings may be valid against third parties. Investors and financial operators may require the service of a reorganization attorney in order to analyze certain aspects of the refinancing operation that is proposed, such as the debt repayment schedule and the security package.
Clients are also advised by lawyers within this practice on matters such as the acquisition of distressed companies, distressed debt and assets coming from distressed companies, as well as the financing of those types of operations. Such advice may include the drafting of offers, purchase agreements, due diligence reviews, etc.
Credit recovery is another area included within this specialty. It covers legal defense in court proceedings regarding credit claimed against the debtor and/or third parties who may also be held liable for their debts.
Finally, it should be noted that, when facing companies’ insolvency proceedings, their directors and managers run the risk of being held liable for damages and companies' debts in certain cases. For this reason, insolvency and reorganization lawyers also provide legal counsel for directors and executives and defend them in court proceedings where such liability is claimed.
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