The General Council of Economists positively values ​​the final wording of the Bankruptcy Reform Law

MADRID, 26 Ago. (EUROPA PRESS) -

The General Council of Economists of Spain (CGE) has stated, after the final approval of the Bankruptcy Reform Law last Thursday in the Congress of Deputies, that the bankruptcy reform represents "an advance" to reduce the barrage of insolvency proceedings planned after the end of the insolvency moratorium.

Precisely, the rule has been approved in an extraordinary plenary session of Congress so that its entry into force could take place in September, although the procedure for micro-enterprises will not be available until 2023.

In addition, the CGE has referred to the improvements introduced during its parliamentary process, which it hopes will be defined "more clearly" in a future regulation.

Regarding the proposals made in this phase by the Registry of Forensic Economists (Refor, the specialized body of the General Council of Economists of Spain in matters of insolvency), the economists have lamented that not all the proposals have been taken into account, but they have shown "reasonably satisfied" with the changes that, in his opinion, "significantly improve the initial text".

Specifically, of the 38 amendments presented by Refor, the final text has included 14 in whole or in part, which represents 37% of the proposals. "It shows the good disposition that has existed when it comes to listening to professionals in the sector", highlighted the president of the General Council of Economists of Spain, Valentín Pich.

Among the improvements introduced, forensic economists have highlighted the lowering of the limits of the new micro-enterprise procedure, the extension of the exemption from public credit and the clarification of the figure of the restructuring expert.

The president of the General Council of Economists of Spain has offered the "full collaboration" of the economists with regard to the regulatory development of the law, since they understand that "there are still many technical aspects that need to be clarified".

For its determination, it could be very useful to have the experience of bankruptcy administration professionals, Valentin Pich has expressed.

In addition, Pich has congratulated those responsible for the Ministries of Justice and Economy, and all the parliamentary groups for the improvements introduced that will "undoubtedly" give a great boost to the restructuring plans, with the consequent development of the pre-bankruptcy phase, "to try to avoid as many liquidations as possible."

The approval of this law occurs in a context in which self-employed insolvencies have almost multiplied by seven between the second quarter of 2019 and the same period of 2022, according to data from Refor and the National Institute of Statistics (INE).