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The Consolidated Text of the Bankruptcy Law – Summary of the TRLC Cycle of Fide

"We publish an in-depth analysis of the Consolidated Text of the Bankruptcy Law, carried out in Fide throughout a cycle of 10 sessions."

After the numerous reforms that the Bankruptcy Law has undergone since its approval in 2003, the advisability of reordering its content by means of a Consolidated Text was raised that, using the possibilities that article 82, 5, of the Constitution recognizes to this legislative option (“ regularize, clarify and harmonize ”), adequately systematize the current bankruptcy regulations, thus contributing to its better interpretation and application. The Consolidated Text of the Bankruptcy Law (TRLC), prepared by a special group of experts within the General Codification Commission, was finally approved by the Royal Legislative Decree, of May 5, 2020, and entered into force last September 1st.


This Cycle of Sessions aims to offer an orderly analysis of the TRLC, selecting those aspects of its content that are most relevant, in order to examine the news they contain, comparing the resulting text with the one that came, as an immediate antecedent, of the Law Insolvency, also considering that, throughout its validity, both jurisprudential pronouncements and interpretative doctrinal criteria have been relapsed. Special interest, in this sense, is raised by the specific issues in which the recasting has introduced some different nuance, or some controversial change, in the preceding text, and this will be a reason for particular consideration throughout the successive sessions.


The Cycle 10 sessions are included, to be held between the months of January and June 2021, in which successively, following the systematic order of the TRLC, as can be seen in the program, the different moments of the bankruptcy procedure, from the declaration of the competition until its conclusion, also paying attention to pre-bankruptcy agreements and labor issues and Private International Law, which are so important in practice, especially at a time when, once the suspension period of the obligation to request the competition has expired, , it is foreseeable an increase in insolvency proceedings, on the one hand, and pre-insolvency initiatives, on the other, pending these, in addition, of adaptation to the European Directive on restructuring and second chance.

Each session of the cycle is intended to result in the development of a text prepared by the respective speakers, in which the problems dealt with are exposed, so that, at the end of the cycle, a complete compendium of materials, useful for a better knowledge of the TRLC and for a better interpretation and application of its content in various aspects.

Below you can find the final report of the TRLC Cycle:

Consolidated Text of the Bankruptcy Law – Summary of the TRLC Cycle of Fide

Cycle directors

  • Maria del Mar Hernandez Rodriguez, Magistrate of the 4th Section of the Provincial Court of Cantabria.
  • Jesus Quijano González, Permanent Member of the Commercial Law Section, General Codification Commission. Professor of Commercial Law, University of Valladolid. Academic Advisor of Allen&Overy. Member of the Academic Council of Fide

List of authors

  • Olga Ahedo, Magistrate of the Commercial Court No. 2 of Bilbao.
  • Javier Anton, Magistrate of the Provincial Court of Asturias.
  • Jose Maria Blanco Saralegui, Counsel in the procedural and arbitration area of ​​Uría Menéndez. Magistrate on leave of absence.
  • Juan Manuel de Castro Aragonese, Managing Partner of the Litigation, Insolvency and Arbitration Law Area of ​​the Barcelona office of Gómez Acebo y Pombo.
  • Luis Fernandez Del Pozo, Mercantile Registrar, Mercantile Registry of Barcelona
  • Núria Fachal, Magistrate of the Commercial Court 1 of A Coruña.
  • Ramon Fernandez-Aceytuno Saenz de Santa Maria, Managing partner of the Litigation, Insolvency and Arbitration Area of ​​Ramón y Cajal Abogados and associate partner to the management of the Firm.
  • Ignacio Fernandez Larrea, Partner of DLM Insolvia.
  • Ana Fernandez-Tresguerres, Notary of Madrid. Academic of Number of the RAJYLE. Member of the Academic Council of Fide
  • Francisco Garcimartin, Professor of Private International Law, Autonomous University of Madrid. Linklaters Consultant. Member of the Academic Council of Fide
  • Maria del Mar Hernandez Rodriguez, Magistrate of the 4th Section of the Provincial Court of Cantabria.
  • Xavier Mata, Managing Partner of Andersen's Madrid office.
  • Carlos Nieto Delgado, Magistrate, Head of Commercial Court no. 1 of Madrid.
  • Nuria A. Orellana Cano, Magistrate specialized in commercial matters. Provincial Court of Malaga.
  • Maria Aránzazu Ortiz, Magistrate of the Provincial Court of Mallorca and specialist in commercial matters.
  • Jesus Quijano González, Permanent Member of the Commercial Law Section, General Codification Commission. Professor of Commercial Law, University of Valladolid. Academic Advisor of Allen&Overy. Member of the Academic Council of Fide.
  • Yolanda Rios Lopez, Magistrate of the Commercial Court No. 1 of Barcelona.
  • Henry Sanjuan, Commercial specialist magistrate by the CGPJ. Professor of Commercial Law, University of Malaga.
  • Manuela Serrano Sanchez, Partner responsible for the Insolvency and Restructuring Area of ​​Ceca Magán.
  • Francisco Javier Vaquer Martin, Magistrate, Head of the Commercial Court no. 6 from Madrid.
  • Inigo Villoria Rivera, Lawyer. Partner at Clifford Chance, Litigation and Arbitration Department. Head of the Bankruptcy Area.

Fide, June 2021

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