THE FRESH START INTRODUCED INTO THE SPANISH LEGAL SYSTEM BY LAW 14/2013 O F 27 SEPTEMBER, ON SUPPORT FOR ENTREPRENEURS AND THEIR INTERNATIONALIZATION

Abstract

In this article, the author examines the reform of the Insolvency Law with the passage of Law 14/2013 of 27 September, on support for entrepreneurs and their internationalization, which originates from the Order of Commercial Court no. 3 of Barcelona, of 26 October 2010. This Order has been followed by other judicial rulings, which have even gone so far as to retroactively apply the mechanism for the write-off of debts introduced by this Law into article 178.2 of the Insolvency Law. The newness of this rule means that as yet there is no consolidated caselaw to clarify many of the uncertainties that arise with regard to its interpretation. As such, there follows an examination of the most recent learned opinion generated in connection with this rule, and in particular the document ‘Conclusions of the meeting of the commercial judges of Madrid concerning the criteria for the application of the reform introduced by the Law on Support for Entrepreneurs, with regard to insolvency matters', with a critical and reasoned commentary on this document. The article examines the subjective, objective, and formal premises for the application of the fresh start and the consequences that the ex lege write-off of debts has, also providing a critical commentary on the small number of judicial decisions that have applied the fresh start retroactively.