On 21 February 2019, the Spanish Congress passed the Act 5/2019, regulating real estate credit (the Act), after a long and "tortuous" legislative process. The final text of the Act has been published in the Spanish Official...more
Financial players in the distressed market in Spain are commonly using the LMA sub-participation agreement. However, “sub-participation” is not a concept that has been traditionally recognised under Spanish law. This has...more